The company says it has cracked key cost barriers in cultivated protein production, as new funding backs a 20,000-litre London facility aimed at scaling commercial output by 2027.
Cultivated meat pioneer Meatly, Europe’s first company to sell cultivated meat, has today announced that it has raised £10.4 million in Series A funding.
Since launching in 2022, Meatly has solved the key technical cost challenges facing the cultivated meat industry, accelerating the path to scalable, affordable production.
In 2024, Meatly announced it had reduced the cost of its chemically defined protein-free medium to an industry-leading £0.22/l, and in 2025, announced it had reduced the cost of bioreactors by ~10x. Following its regulatory authorisation in 2024, Meatly sold the world’s first cultivated pet food in 2025.
Check out our earlier interview with Owen Ensor, founder and CEO of Meatly.
This new funding will enable Meatly to build a 20,000-litre bioreactor facility in London, which is the largest of its kind in Europe. Fit-out of the facility will begin immediately, with product releases expected to follow in 2027.
Investors in the round include Oyster Bay Venture Capital, Clean Growth Fund, and JamJar Investments. This latest raise builds on the £7 million in seed funding provided by founding investor, Agronomics, and Pets at Home, bringing total funding raised to date to £17.4 million.
Owen Ensor, CEO, Meatly, sees the investment as a powerful endorsement, not just of Meatly, but of Britain’s foodtech and biotech sectors.
“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.”
Connor Duffy, Investment Manager at Clean Growth Fund, said:
“Rethinking how we produce protein is an essential part of tackling the climate crisis. We’ve invested in Meatly because they are showing it’s possible to produce real meat cost-competitively and with a fraction of the environmental impact.”
Elise Schumacher, Investor at Oyster Bay Venture Capital, said:
“Meatly is not just building a new product – it’s laying the foundations for an entirely new protein category.