DSM Venturing is among the investors backing the cultured meat start-up
Delft-based cultivated meat start-up Meatable has closed a $47 million Series A funding round from a consortium consisting of Dr Rick Klausner, Section 32, Dr Jeffrey Leiden, and DSM Venturing, as well as existing investors BlueYard Capital, Agronomics, Humboldt, and Taavet Hinrikus.
The latest round brings the company’s total funding to $60 million.
Meatable said its technology replicates the natural process of fat and muscle growth, in proportions that emulate traditional cuts of meat, adding that the entire process, when fully developed, is expected to take weeks to produce meat, compared to the years to it takes to grow a live animal.
Meatable added it will use the new funds to advance small-scale production at its Biotech Campus Delft and to diversify its product portfolio.
Krijn de Nood, co-founder and chief executive of Meatable. “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 realising that potential is a huge step for Meatable.
“We are honoured 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.”
Investor Klausner is a former director of the US National Cancer Institute and former executive director of global health at the Bill & Melinda Gates Foundation. He said: “We are committed to joining Meatable in its mission to address the world’s most pressing challenges. We see a smart start-up that has accomplished a lot in a short amount of time. They have a great team and game-changing technology that can address the challenges around the global food insecurity issues our planet is facing. They have all the right ingredients to become the leading choice for sustainably and efficiently produced meat.”
Date published: 24 March 2021