Cultivated meat leader Meatable raises $35 million in new funding to scale and accelerate commercial launch of its pork products
DELFT, Netherlands, Aug. 8, 2023 /PRNewswire/ -- Meatable, the industry-leading food tech company, announced today it has raised $35 million in new funding to bring the company's total funding so far to $95 million. Led by Agronomics, the successful close saw Invest-NL, a Dutch impact fund, coming on board as a new investor. The round also drew significant renewed support from existing investors, including BlueYard, Bridford, MilkyWay, DSM Venturing and Taavet Hinrikus.
The funding will be used to further scale its processes and accelerate commercial launch of its cultivated meat products. The scale up and process optimization reduce the production costs to become cost competitive with traditional meat and reach production to commercial volumes. Starting in Singapore, Meatable is launching in selected restaurants and retailers from 2024. The company is also making solid progress on expanding to the United States and beyond, boosted by recent regulatory developments.
Krijn de Nood, co-founder and CEO of Meatable said: "We're thrilled to welcome Invest-NL on board and to have renewed support from our existing investors. Both the regulatory landscape and the continued investments are aligning to show demonstrated momentum. This is a huge sign of confidence in the incredible quality, taste, and proven scalability of our product, especially in the current investment climate. We look forward to working closely with our investors as we enter our next growth phase and cement our position as global leaders in the cultivated meat industry."
To make its cultivated pork, Meatable takes one sample of cells from an animal without harming it and replicates the natural growth process of the cells using patented opti-ox™ technology combined with pluripotent stem cells. This technology makes it possible for Meatable to produce real muscle and fat cells in only eight days. This efficiency will enable the company to scale cultivated meat production quickly and affordably.
View original content:https://www.prnewswire.co.uk/news-releases/cultivated-meat-leader-meatable-raises-35-million-in-new-funding-to-scale-and-accelerate-commercial-launch-of-its-pork-products-301893545.html
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