Dive Brief:
- Meatable is inviting a group of global leaders, including meat industry representatives, scientists, investors and policymakers to an invite-only Series C fundraising in early 2025, CEO Jeff “Trip” Tripician said in a statement to Food Dive.
- The Dutch cultivated meat company plans to use the funds to continue its work to scale and commercialize its technology. Tripician previously told Food Dive that the company’s end goal is to license Meatable’s manufacturing capabilities to meat companies.
- The exclusive event comes on the heels of the appointment of a new chief technology officer in Dr. Aris de Rijke, who during the company’s next phase of growth will be focused on scaling the technology in a cost efficient manner, Tripician said.
Dive Insight:
Six-year old Meatable has made its mark in the nascent cultivated meat industry and, recently, has bucked the trend and said they want to work with the meat industry, not against it.
In March, the company announced it cut its production time in half (from eight days to four) which the company claimed is the fastest in the cultivated meat industry.
Since its inception to the U.S. market in June 2023, cultivated meat has hit roadblocks between consumer acceptance and legislative bans.
Whereas other leading companies looked to get into foodservice and retail, Meatable takes a different approach by working directly with meat industry leaders.
Similar to how beef companies are able to put a “Certified Angus Beef” label on products in grocery stores, Tripician envisions the same meat companies using Meatable’s manufacturing technology so that when companies use its seal, cattle ranchers and the like get a premium and consumers can feel better about their consumption. Tripician sees working with farmers and processors who could use a percentage of cultivated meat in their products as a solution to many of the industry’s issues.
At the exclusive event in the New Year, Tripician — who only took the CEO seat in June — said he hopes politicians and investors will “experience firsthand how cultivated meat can be part of the solution to the world’s most pressing issues.”
The company expects the upcoming funding round to be key in improving its technology in the next couple months to years, and that meat companies are able to see how it’s commercially viable, Tripican said.
Rijke leading the technology strategy will be key to that happening, he said.
With Rijke’s appointment, Meatable’s co-founder, Daan Luining, will be moving to the role of chief innovation officer. Tripician said that with this new position, Luining will have a more external-facing role to look at innovation partnerships, explore new technologies and ideas and expand the innovation pipeline.