Meatly, a London-based firm that became the first company in Europe approved to sell lab-grown meat in 2024, is now planning to open the continent’s “largest cultivated meat facility” after securing new funding.
The company, which predominantly provides pet food groups with its cultivated meat products, announced on Thursday that it raised £10.4m in a Series A funding round.
Meatly plans to ramp up its research and development capabilities following the capital injection. The group said it will build a 20,000-litre bioreactor facility in London that will be producing usable products by 2027.
“This investment marks a powerful endorsement – not just of Meatly, but of Britain’s foodtech and biotech sectors,” said chief executive Owen Ensor.
“Meatly has one focus – to make commercially viable cultivated meat a reality. Over the last four years, Meatly’s pioneering team has systematically focused on reducing key costs and building the strongest possible technical foundation for growth.
“Now we have our own industry-leading technology, and we are ready to scale.”
The funding round saw three VC funds join the group’s investor base, including Oyster Bay Venture Capital, Clean Growth Fund and JamJar Investments.
“Rethinking how we produce protein is an essential part of tackling the climate crisis. We’ve invested in Meatly because they are showing it’s possible to produce real meat cost-competitively and with a fraction of the environmental impact,” said Connor Duffy, investment manager at Clean Growth Fund.
“The team is focused on building a commercially viable path to scale, which will ultimately determine whether solutions like this can deliver meaningful change. We’re delighted to be backing Meatly as they set out to build Europe’s largest cultivated meat production facility.”
The company previously raised £7m in a seed round.
