Meatiply banks $3.75m in seed money to scale cultivated meat production

The Meatiply team with A*Star collaborators / Photo credit: Meatiply

Cultivated meat company Meatiply has secured US$3.75 million in the first close of its seed funding. Existing investor Wavemaker Partners and AgFunder co-led the round, with participation from Seeds Capital.

The Singapore-based startup will expand its R&D capabilities and scale up production in tandem with with commercial partners. A new facility will start operating in 2024, two years ahead of a planned commercial launch.

Benjamin Chua, co-founder and COO of Meatiply, said the new facility primes the company “to launch a product within an unprecedented five-year timeframe since our founding.”

Meatiply is developing meat products by using a combination of different cell types – such as muscle, fat, and skin – to produce natural compounds that can replicate the taste and nutritional value of real meat.

Since its US$1 million pre-seed round in 2022, the company has showcased three prototypes across different species, including Asia’s first cultivated smoked duck breast.

Amid a challenging investment climate, Meatiply is one of the few cultivated meat startups to raise seed funding this year. Meanwhile, Singapore’s agritech and foodtech firms that tackle plant-based proteins are receiving the lion’s share of funds, with cell-based meat companies taking a back seat.

See also: Is Singapore’s ‘30 by 30’ food security goal too far-fetched?