The funding round was led by Oyster Bay Venture Capital, Clean Growth Fund, and JamJar Investments to support the construction of Europe's largest cultivated meat site.
"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 oversubscribed round was led by Oyster Bay Venture Capital to advance research and development on plant-based materials.
"Once optimised and patented, we will raise our next round to co-locate this continuous process alongside a brewery, enabling immense production outputs. We initially applied our technology to beer breweries and whisky distilleries because of their robust supply chains. As part of this raise, we will also prioritise commercial partnerships to introduce products to the fashion and other industries, starting on a small scale."
