Meatable raises $47 Million to continue scaling trajectory and expand its product portfolio with beef
Meatable, the very first startup that settled at Planet B.io, has closed $47 million in its Series A funding round, bringing the company’s total funding to $60 million. Meatable focusses on cultivated meat and finalized its first showcase product in 2020. They now aim to use the new funds to advance small-scale production at the Biotech Campus Delft and to diversify the 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 that cultivated meat will have on climate change 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. When fully developed, the entire process to produce meat is expected to take only weeks, whereas it takes years to grow a live animal.
“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. Having Rick Klausner, Jeffrey Leiden, Section 32 and DSM Venturing support us in realizing that potential is a huge step for Meatable,” said Krijn de Nood, CEO and co-founder of Meatable. “We are honored 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. 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.”
Meatable 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. Meatable’s technology is adaptable to any cell-based species, including cows, pigs, sheep and fish, giving the company great opportunity for further product development.
Want to learn more about Meatable? Check out their website or the community page on the Planet B.io website.