Cultivated meat company Meatable has raised $47 million in a Series A financing round, bringing the company’s total funding to $60 million.
Founded in 2018, Meatable is a Dutch start-up working to produce, at scale, cultivated meat that looks and tastes like its conventionally farmed counterpart, with the same nutritional profile.
The company says that its proprietary opti-ox technology enables it to produce meat rapidly and sustainably, without harming animals.
The start-up’s latest financing push was backed by a consortium of life sciences and food investors, including Section 32, DSM Venturing, Rick Klausner, Jeffrey Leiden and existing Meatable supporters.
The company finalised its first showcase product in 2020, following a $10 million seed funding round the previous year. Meatable now plans to use the proceeds from its Series A round to advance small-scale production at the Biotech Campus Delft and diversify its product portfolio.
While Meatable is currently focused on cultivated pork and beef, the firm’s technology is said to be adaptable to any cell-based species, providing the opportunity for further product development.
“We are committed to joining Meatable in its mission to address the world’s most pressing challenges,” said Rick Klausner, former director of the US National Cancer Institute and former executive director of global health at the Bill & Melinda Gates Foundation.
“They have a great team and game-changing technology that can address the challenges around the global food insecurity issues our planet is facing,” he added.
Krijn de Nood, CEO and co-founder of Meatable, said: “Cultivated meat has the potential to continue to produce the product we love – meat – using a much more efficient production process.
“Having Rick Klausner, Jeffrey Leiden, Section 32 and DSM support us in realising that potential is a huge step for Meatable.
“We are honoured to welcome a like-minded group of investors who support us on our mission – to develop, accelerate and bring to life sustainable, healthy and environmentally sound technologies that can improve the human condition.”
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