Last week, Meatable shared that the Dutch startup raised an additional $10 million in their seed funding round. Based in Netherlands, Meatable is a startup that uses cellular agriculture to grow cell-based meat. Cellular agriculture is the field of producing animal products, like meat, directly from cell cultures instead of raising animals for the same products. By growing cells that become meat from an animal, Meatable can make the same meat. Without requiring the animal.
In a recent post, Meatable co-founder and CEO Krijn de Nood shared that the additional $10 million funding came from existing seed round investors, including BlueYard Capital, and prominent angel investors Taavet Hinrikus, the CEO and founder of European unicorn TransferWise, and Albert Wegner, Managing Partner of Union Square Ventures. Meatable also received $3 million from the European Commission through its Eurostars Programme, an initiative to support innovative product development in Europe. According to de Nood, the round brings Meatable’s total funding to $13 million.
Meatable and Cell-based Meat
In October 2018, Meatable announced that the startup raised $3.5 million in seed funding. Founded by Krijn de Nood, Daan Luining, and Ruud Out, Meatable has developed a faster way to produce large batches of cell-grown meat using a proprietary technology platform called OPTI-OX. Using this proprietary technique, Meatable believes they can produce large amounts of cell-based meat in several days to weeks.
In addition to the funding announcement, Meatable announced that they will showcase a prototype of their first product next summer: a cell-based pork chop. Meatable shared that they will use their own scaffolding technology to develop their meat prototype. Meatable also said that their cell-culture media will be a plant-based formulation that does not require fetal bovine serum.
Meatable plans to use the additional funding to expand their research and development efforts as well as help scale production. The company will also use the funding to accelerate development of their beef and pork cells to form whole cuts of meat.
It’s will be interesting to see Meatable’s cell-based pork chop prototype. Compared to other cell-based meat prototypes, like a meatball or sausage, pork chops are a complex meat tissue with many technological barriers to overcome. It will be a significant technological accomplishment for Meatable to be the first cellular agriculture startup to produce the complex meat.
Considering the devastation of African swine flu on global pork supplies, it’s promising to see cell-based meat startups like Meatable looking to apply their food technology to address the shortage of pork meat in the global supply chain. It highlights how cellular agriculture can help improve and support a sustainable future of food.
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My name is Ahmed Khan, and I am the Editor of CellAgri. Subscribe to the CellAgri email newsletter at www.cell.ag to get the latest research and news about cellular agriculture, which I share exclusively with my email subscribers. We are regularly tweeting out interesting articles and thoughts via twitter @Cellagritech