Meatable closed $47 million in a Series A funding round backed by Section 32, DSM Venturing and existing investors.
Meatable, a Delft, Netherlands-based producer of alternative, lab-grown food products, announced the completion of a $47 million in Series A funding round.
The money was raised from investors including DSM, one of the largest food biotech companies in Europe, through its VC arm DSM Venturing, Section 32 and existing backers BlueYard Capital, Agronomics, and Humboldt.
Meatable, founded in 2018 by Daan Luining, Krijn De Nood (CEO) and Mark Kotter, 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.
To get there, Meatable developed a platform technology that allows for a cost effective and scalable production process of alternative food products. 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.