• Singapore cultivated meat startup Meatiply raises $3.75M seed round, oversubscribed.
• Funding to expand R&D and open 2024 production facility, priming 5-year market launch.
• Meatiply looks to scale cell-cultured manufacturing amid cautious climate.
Summary
Oversubscribed seed round
Singapore-based cultivated meat startup Meatiply has raised $3.75 million in an oversubscribed first close of its seed funding round, bringing the company a step closer to commercialization within five years.
The round was co-led by existing backer Wavemaker Partners and AgFunder, with participation from government fund Seeds Capital. It builds on Meatiply’s $1 million pre-seed raise last year.
Meatiply will use the fresh capital to expand R&D capabilities and staff.
New Facility
A new production facility to begin operations in 2024 will let the startup scale up test production runs.
“This facility primes us to launch a product within an unprecedented five-year timeframe,” said COO and co-founder Benjamin Chua. The company aims to produce beef, pork, poultry, and seafood using cell cultures.
Meatiply says its technology can replicate conventional meat’s taste, texture, and nutrients more quickly than plant-based substitutes.
However, the nascent industry still faces hurdles in scaling production.
A rising tide?
As rising incomes in Asia drive up meat demand, analysts see opportunities for startups to develop sustainable alternatives.
Cultivated meat remains early compared to the more mainstream plant-based segment.
The fresh funding makes Meatiply one of few cell-cultured contenders to attract significant seed backing amid a cautious climate.
But success may hinge on efficiently honing its patent-pending production process.
Funding to scale production ahead of 2026 market launch
