Netherlands-based Meatable, a startup specialising in cultivated meat technology, has been awarded €7.6M through the Innovation Credit programme administered by the Netherlands Enterprise Agency (RVO).
RVO is committed to helping businesses and organisations invest and expand their operations domestically and internationally. As a government agency under the Dutch Ministry of Economic Affairs, RVO claims to play a crucial role in fostering innovation and economic growth in the Netherlands.
“We’d like to thank Netherlands Enterprise Agency for their trust in us and great collaboration on our journey so far – their experience, knowledge and tools have helped us mature as an organisation. We look forward to the next chapters!” says Meatable in a LinkedIn post.
The Innovation Credit follows Meatable’s successful completion of a €30M Series B funding round earlier this year.
Capital utilisation
The funding is aimed at supporting innovative projects that face significant technological risks yet hold strong market potential.
The additional capital from the Innovation Credit is expected to accelerate Meatable’s efforts to meet global meat consumption demands sustainably. The credit will enable Meatable to enhance productivity and reduce costs as it prepares for commercialisation.
Producing meat without harming animals or the planet
With global demand for meat on the rise, Meatable seeks to provide sustainable alternatives to traditional livestock production, which has been linked to environmental degradation and social challenges.
According to a statement from Meatable, currently, around 828 million people worldwide suffer from hunger, highlighting the urgency for innovative solutions in food production.
Cultivated meat, which is produced from a single sample of animal cells, is set to be a viable alternative that could mitigate the environmental and societal impacts of conventional meat production.
Meatable’s technology platform aims to partner with the meat industry to scale up the production of cultivated meat products.
In May 2024, the Dutch company appointed Jeff Tripician as CEO, succeeding CEO and co-founder Krijn de Nood, who now serves on the Board of Directors.
01
Dutch at Slush 2024: Meet the four 4TU startups who are fundraising at the world’s most founder-focused event