Meatable, one of the key players in the cultured meat world, has bagged $47M in a Series A round of funding. So far the Netherlands-based company has raised over $60M.
The round was led by Dr. Rick Klausner, Section 32, Dr. Jeffrey Leiden, and DSM Venturing. Existing investors including BlueYard Capital, Agronomics, Humboldt, and Taavet Hinrikus, also participated.
The size of the cash underlines how the investors see the potential of cultured meat to disrupt the $1,223.4bn global meat industry It is also a thumbs up that the three-year-old company is ready to bring its products to market and scale its output.
Meatable is focused on the further development of cultivated pork and beef, though its technology could in theory replicate any type of animal-based meat.
For now though the cash will enable Meatable to advance its small-scale production at the Biotech Campus Delft and to diversify its product portfolio.
Krijn de Nood, CEO and co-founder of Meatable, says, “With this funding, we believe we are well on our way to bringing our first products to market to sustainably satisfy the world’s appetite for meat.”
The company claims that its patented Opti-Ox cell technology that enables growing a single cell under controlled differentiation into any cell type, uses up to 96 per cent less water and 99 per cent less land than industrial farming. By optimising its energy-efficient processes, it could decrease emissions associated with meat production even further.
Krijn de Nood believes, “To be able to meet the growing demand for meat worldwide, we need breakthrough solutions. Cultivated meat has the potential to continue to produce the product we love – meat – using a much more efficient production process.”