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Meatable secures $10million in seed funding.

L-R Meatable co-founder Daan Luining and Meatable CEO Krijn de Nood

“To me, this is convincing evidence that the EU now sees cultivated meat as a credible aid to combating climate change.”

Cultured meat start-up Meatable has announced that it has raised an additional $10 million in seed funding.

The capital came from existing investors including BlueYard Capital, as well as angel investors and the European Commission. This brings Meatable’s total funding to $13 million.

In a blog post, Meatable CEO Krijn de Nood said the new funds would enable the company to accelerate the “development of our beef and pork cells and, importantly, our process for forming whole cuts of meat”.

Meatable will also use its new capital to reach its goal of unveiling its first cultivated pork prototype in the summer of 2020.

Cultivated meat joins plant-based proteins as a potential solution to sustainably feeding the world’s growing population. Industrial farming practices strain the Earth’s already limited land and water resources and are responsible for 14% to 18% of human caused greenhouse gas emissions.

Cultivated meat has the potential to use up to 96% less water and 99% less land than industrial farming, and with energy efficient processes could slash emissions associated with meat production.

Launched in 2018, the company has been developing a technology that will let it grow meat from a single cell quickly, and without the need for controversial (and expensive) Fetal Bovine Serum.

Commenting on the fact that the European Commission contributed funds to the seed raising, De Nood said: “To me, this is convincing evidence that the EU now sees cultivated meat as a credible aid to combatting climate change.”

Earlier this year, Bio Market Insights interviewed Meatable co-founder Daan Luining. Describing Meatable’s technology, Luining said: “It’s like a command line for cells. The cell lines we’ve developed proliferate indefinitely and produce millions of identical cells, at unprecedented purities and within a very short timeframe.

“Essentially, we have a programme for liver, we have a programme for muscle, we have a programme for fat. The result is genuine tissue that does not require fetal bovine serum to grow – the standard cellular medium upon which cells usually feed.

“The system we have developed is like a phone. The cells are the hardware of the pone. The software you install on this phone determines what functionalities it has. It’s the same with the cells. These cells need the software to have specific functionalities. This is what we do with our technology, we know what software to install to give it it’s specific functionality.

“Some people are sceptical, but once they understand what we are doing they are more sympathetic.”

If you were interested in this bioeconomy story, you may also be interested in the ones below.

Read: 5 Minutes With…. Daan Luining from Meatable.

Read: 5 Minutes With… Alexander Lorestani from Geltor.

Read: 5 Minutes With… Joško Bobanović from Sofinnova Partners.

Read: 5 Minutes With… Thomas Grotkjær from Novo Seeds.

Read: Ginkgo Bioworks invests $80m in Synlogic.

Read: The chemical innovation taking anti-cancer compounds out of the sea slug and into the lab.

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