Meatable, a Netherlands-based food tech company, has secured $35 million in new funding, contributing to total funding of $95 million. The company, which specializes in creating cultivated meat products, is gaining significant traction in the industry.
Agronomics led the successful funding round, with Invest-NL, a Dutch impact fund, joining as a new investor. The round also received substantial renewed support from existing investors, including BlueYard, Bridford, MilkyWay, DSM Venturing, and Taavet Hinrikus.
Cultivated Meat Products
The freshly secured funds are earmarked for expanding Meatable's processes and accelerating the commercial launch of its cultivated meat products. Through scaling up and optimizing its processes, the company aims to reduce production costs and achieve cost competitiveness with conventional meat.
Meatable is poised to launch its products initially in Singapore, with selected restaurants and retailers set to feature the products in 2024. The company's expansion into the United States and other markets is also progressing well, benefiting from recent regulatory advancements.
Krijn de Nood, Co-founder and CEO of Meatable, expressed his enthusiasm about the new investment and the ongoing support from existing investors. He highlighted the alignment of regulatory developments and investments as indicative of the growing momentum in the industry.
"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," de Nood said in a press release statement.
"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."
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Meatable's Approach to Cultivated Meat
Meatable's strategy for cultivated meat production entails obtaining cell samples from animals without inflicting harm. This method involves the application of patented opti-ox technology alongside pluripotent stem cells.
Through this inventive process, Meatable imitates the natural cell growth trajectory, yielding genuine muscle and fat cells within a mere eight days. This heightened efficiency is poised to expedite the rapid and cost-efficient expansion of cultivated meat manufacturing.
Originating in the Netherlands, Meatable distinguishes itself as a pioneering food company with the ambition to offer cultivated meat at a substantial scale. Their objective involves closely emulating the visual, gustatory, and nutritional attributes of conventional meat.
At the core of their approach lies the proprietary Opti-ox technology, which serves as the foundation for expeditious and sustainable meat production while maintaining animal welfare considerations.
As Meatable continues its trajectory of garnering financial backing and advancing within the cultivated meat sector, its capacity to create sustainable and ethically-sourced meat products holds significant potential for revolutionizing the landscape of food production.
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