Dutch cultivated meat brand Meatable has bagged €7.6m (£6.3m) funding from the Netherlands Enterprise Agency.
The lab-grown meat firm will use the funding to spearhead productivity and dial down costs as it ramps up commercial activity. This includes satisfying the growing global demand for meat by producing planet and animal friendly “real” meat products at scale.
The innovation credit programme aids “innovative development projects that are proven to have a good degree of technical feasibility and excellent market prospects”. As a recipient, Meatable will receive funding in spread out payments, which will be repaid once the project is completed.
Meatable has raised €97m in funding since launching in 2018, including a €30m Series B funding round in August 2023.
Earlier this year, it hosted Europe’s first cultivated meat tasting at its HQ in the Netherlands, and also announced it had reduced production time for its pork sausage product by 50%, meaning a four-day production period instead of eight.
Meatable showcased its first lab-cultivated pork product back in 2020. In 2021, it said its technology was adaptable to any cell-based species, including cows, sheep and fish. Its mission remains to mimic the biological process of fat and muscle growth, producing real cuts of meat in far less time than it would take to rear and slaughter animals through farming.
Jim Mellon, co-founder and executive chairman of Agronomics, a London-listed investment firm focused on cellular agriculture and a backer of Meatable, said: “As global meat consumption continues to rise, traditional livestock production methods are facing increasing pressure to meet demand while mitigating environmental impacts.
“Meatable’s innovative approach offers a promising solution by producing meat without the need for animal slaughter, thereby reducing carbon emissions, water consumption, and land use. We are excited to see Meatable enter the next stage of growth as it achieves regulatory approval and commercialises its products.”
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