Menu Close

Meatable sinks its teeth into $35M to accelerate launch of its cultivated pork products

Venture capital funding to the cultivated meat industry has largely followed other industries in fewer investments made this year; however, there’s still movement in this sector yet.

Here in the United States, cultivated meat companies saw regulatory doors open widely after the Food and Drug Administration cleared Upside Foods and Good Meat in June to sell their cultivated chicken products across the country, and now both are in restaurants. In that same month, Omeat came out of stealth with its technology for making beef.

Europe is heating up as well. Just last week, Israel-based Aleph Farms submitted an application in the United Kingdom to sell its cultivated beef steaks under the Aleph Cuts brand in that country. This followed Aleph’s application submitted July 26 for regulatory approval in Switzerland. Meanwhile, U.K.-based Uncommon, formerly known as Higher Steaks, which also makes a wide assortment of cultivated meats, grabbed $30 million in Series A funding.

Now Meatable, based in The Netherlands, is adding to that excitement with the announcement of $35 million of its own new financing. The company, initially making pork products, has now raised $95 million in total funding.

Agronomics led the new investment and was joined by new investor Invest-NL, which contributed $17 million, according to the company. Existing investors coming back include BlueYard, Bridford, MilkyWay, DSM Venturing and Wise chairman and founder Taavet Hinrikus.

Anthony Chow, co-founder of Agronomics, was blunt during an interview when he said that it’s “the worst possible time you could want to raise money,” and that there has been a “real drought of announcements” in the cultivated meat sector, and that many of the more recent announcements, Omeat included, were for investments made “some time ago.”

“As far as I’m concerned, this [Meatable’s] is the only material financing that has been completed probably for 18 months, maybe even 24 months, of any meaningful size,” Chow said.

TechCrunch has followed Meatable since it picked up $10 million in funding back in 2019. At that time, the company was in its infancy, but had already unveiled its technology which uses precision fermentation to make meat derived from animal cells without hurting the animal.

Since its inception five years ago, the company has grown to a team of 100, started production in Singapore and held the first external tastings of its pork products after The Netherlands gave the green light for companies to organize tastings, Meatable’s co-founder and CEO Krijn de Nood told TechCrunch. Oh, and raised $47 million.

More recently, de Nood unveiled the company’s ability to slash production time it takes to make fat and muscle, from three weeks to eight days, telling AgFunder in May that while rivals are achieving 50-liter bioreactors, Meatable is currently able to reach 500-liter bioreactors and grow cells at 80 million cells per milliliter, thus enabling the company to make fat and muscle within days.

Faster production also helps narrow the gap in production costs, which has been the bane of the cultivated meat industry for years and why we haven’t seen a lot of it on grocery shelves yet.

Meanwhile, the new funding will help Meatable, which is still pre-revenue, scale its processes and accelerate the commercialization of its first products, which will include sausages and pork dumplings, in Singapore starting in 2024, de Nood said. The company also plans to establish a presence in the United States in two years.

“To build a profitable factory, you will need to put in $50 million to $60 million at least, probably a little bit more,” de Nood said. “We really want to make sure that we spend the capital wisely and first focus on scalability and cost reduction. Then in the next 18 to 24 months start building that large scale.”

The new funding will help Meatable scale its processes and accelerate the launch of its first products — sausages and pork dumplings — in Singapore starting in 2024.  Read More TechCrunch 


Innov8 is owned and operated by Rolling Rock Ventures. The information on this website is for general information purposes only. Any information obtained from this website should be reviewed with appropriate parties if there is any concern about the details reported herein. Innov8 is not responsible for its contents, accuracies, and any inaccuracies. Nothing on this site should be construed as professional advice for any individual or situation. This website includes information and content from external sites that is attributed accordingly and is not the intellectual property of Innov8. All feeds ("RSS Feed") and/or their contents contain material which is derived in whole or in part from material supplied by third parties and is protected by national and international copyright and trademark laws. The Site processes all information automatically using automated software without any human intervention or screening. Therefore, the Site is not responsible for any (part) of this content. The copyright of the feeds', including pictures and graphics, and its content belongs to its author or publisher.  Views and statements expressed in the content do not necessarily reflect those of Innov8 or its staff. Care and due diligence has been taken to maintain the accuracy of the information provided on this website. However, neither Innov8 nor the owners, attorneys, management, editorial team or any writers or employees are responsible for its content, errors or any consequences arising from use of the information provided on this website. The Site may modify, suspend, or discontinue any aspect of the RSS Feed at any time, including, without limitation, the availability of any Site content.  The User agrees that all RSS Feeds and news articles are for personal use only and that the User may not resell, lease, license, assign, redistribute or otherwise transfer any portion of the RSS Feed without attribution to the Site and to its originating author. The Site does not represent or warrant that every action taken with regard to your account and related activities in connection with the RSS Feed, including, without limitation, the Site Content, will be lawful in any particular jurisdiction. It is incumbent upon the user to know the laws that pertain to you in your jurisdiction and act lawfully at all times when using the RSS Feed, including, without limitation, the Site Content.