Meatly Secures $14M Series A to Build Europe’s Largest Cultivated Meat Facility in London

Green Queen Media UK

Overview

British food tech firm Meatly has raised £10 million ($14.1 million) in Series A funding to construct a 20,000-liter cultivated meat pilot plant in London, set to become Europe’s largest. The company, which focuses on cultivated chicken for pet food, has achieved significant cost reductions, bringing its protein-free growth medium to £0.22 per liter and bioreactor costs down tenfold. This investment underscores growing investor confidence in the cultivated meat sector and signals a major step towards commercial-scale production in Europe, with products slated for launch next year.

In Depth

Background and the Cultivated Meat Industry Landscape

Cultivated meat, produced by growing animal cells in a bioreactor, presents a sustainable alternative to conventional livestock farming, promising reduced environmental impact and ethical benefits. However, its widespread commercialization has been hindered by substantial manufacturing costs, particularly associated with cell culture media and bioreactor infrastructure, as well as the inherent challenges of scaling production efficiently.

Meatly, a UK-based food tech company founded in 2021 (originally as Good Dog Food), has emerged as a key innovator in this space. By strategically focusing on the pet food market, which often has different regulatory and consumer acceptance pathways than human food, Meatly aims to accelerate its path to commercial viability. The company has demonstrated a consistent focus on technological advancements to dismantle these economic barriers.

Significant Funding and Production Expansion

Meatly recently announced the successful closure of its Series A funding round, securing £10 million (approximately $14.1 million). This capital injection is earmarked primarily for the construction of a 20,000-liter cultivated meat pilot plant in London. Upon completion, this facility will be the largest of its kind in Europe, representing a significant leap in the region’s cultivated meat production capacity.

The funding round saw participation from new investors, including Oyster Bay Venture Capital, Clean Growth Fund, and JamJar Investments, alongside existing backers. This robust investment signals a renewed and growing investor confidence in the cultivated meat sector, particularly noteworthy given previous periods of fluctuating funding in the industry.

Cost Reduction and Path to Commercialization

A cornerstone of Meatly’s strategy and success has been its systematic approach to cost reduction, which directly addresses the most significant barriers to cultivated meat commercialization:

• Reduced Media Costs: The company has achieved a breakthrough by lowering the cost of its chemically defined, protein-free growth medium to an unprecedented £0.22 per liter. This drastically cuts one of the largest expenditure categories in cultivated meat production, a critical step towards price parity with conventional meat.
• Bioreactor Cost Efficiency: Meatly has also reported a tenfold reduction in bioreactor costs, alleviating the capital intensity typically associated with scaling bioreactor-based biomanufacturing.
• Regulatory Milestones: In a landmark achievement for the European market, Meatly secured regulatory approval from the UK’s Animal & Plant Health Agency in 2024, becoming the first company in Europe permitted to sell cultivated pet food. This regulatory success is a crucial prerequisite for market entry and large-scale commercial operations.

With these advancements, Meatly plans to launch new products from 2027, addressing the surging demand for sustainable protein alternatives. This development not only positions Meatly as a leader but also serves as a significant milestone for the broader cultivated meat industry in Europe, demonstrating the tangible progression from pilot to commercial-scale production.