THE NETHERLANDS, Amsterdam. Meatable, the cultivated meat start-up, has closed $47 mill. in its Series A funding round, bringing the company's total funding to $60 mill. Meatable finalized its first showcase product in 2020 and aims to use the new funds to advance small-scale production at the Biotech Campus Delft and to diversify its product portfolio.
The consortium consists of Dr. Rick Klausner, Section 32, Dr. Jeffrey Leiden, and DSM Venturing, and includes existing investors, such as BlueYard Capital, Agronomics, Humboldt, and Taavet Hinrikus, showing continued support. They recognize the positive impact cultivated meat will have on climate change, see the trillion-dollar potential of the cultivated meat marketplace, and are betting on Meatable to solve the industry's scalability and speed-to-market challenges with its patented opti-ox technology.
Meatable's proprietary platform technology enables a fundamentally more cost effective and scalable production process. It replicates the natural process of fat and muscle growth, in proportions that emulate traditional cuts of meat. The entire process, when fully developed, is expected to take only weeks to produce meat, whereas it takes years to grow a live animal.
The start-up aims to produce cultivated meat, for which no animals are slaughtered, fewer GHG emissions are released, and significantly less land and water are required. And, unlike plant-based alternatives, the end-product will provide the full experience of eating actual meat, with the same texture, taste, and nutritional benefits.
After successfully completing its first pork showcase product, Meatable is currently focused on the further development of cultivated pork and beef. The technology is adaptable to any cell-based species, including cows, pigs, sheep, and fish, giving the company great opportunity for further product development.