Meatable winds down after funding efforts fall short
Delft-based cultivated meat startup Meatable is shutting down operations after failing to secure additional financing, according to a statement released by Agronomics, one of the company’s key shareholders. The London-based venture investor said the decision followed an inability to obtain continued funding from existing backers or attract new investors, despite the company’s technical progress and recent strategic moves.
Agronomics announced the development on Friday, 19 December, describing 2025 as a year marked by “foreseeable and unforeseeable risks and uncertainties” that affected Meatable’s ability to execute its strategy and meet expected performance targets. The investor said the company ultimately could not secure the capital required to continue operating.
Agronomics to write investment down to zero
Agronomics said it has invested close to €9 million (£7.9 million) into Meatable over time. Prior to the shutdown announcement, its stake was valued at €13.6 million (£11.9 million). That holding will now be written down to zero, the firm said.
The investment represented approximately 8.1% of Agronomics’ net asset value as of 30 September 2025, underlining the material impact of the closure on the investor’s portfolio. While the write-down reflects the loss of value in the specific holding, Agronomics positioned the decision as part of broader portfolio management.
Jim Mellon, Executive Chair of Agronomics, said the outcome was disappointing but framed the wind-down as a responsible step. “While this outcome is disappointing, we believe the decision has been taken responsibly and in the best interests of all stakeholders,” Jim Mellon said. He added that Agronomics remains focused on supporting other portfolio companies it believes have strong long-term growth potential.
Recent expansion moves could not offset capital pressures
The closure comes only months after Meatable announced the acquisition of UK-based Uncommon Bio’s cultivated meat platform. That deal included key technology, several intellectual property assets, high-performing cell lines, and specialist staff—elements that typically signal an attempt to accelerate product development and strengthen competitive positioning.
Meatable had also continued to build partnerships and visibility in the cultivated meat sector. The company collaborated with TruMeat on plans for a cultivated meat facility in Singapore, reflecting the industry’s focus on scaling production capacity and preparing for commercialization in markets with clearer regulatory pathways.
In April last year, Meatable hosted what it described as the first legally approved cultivated meat tasting in the European Union—an event that highlighted both consumer interest and the regulatory complexity surrounding cultivated proteins in Europe.
Founded in 2018, Meatable positioned itself as a technical leader
Meatable was founded in 2018 by Krijn de Nood, Daan Luining, and Dr Mark Kotter. The company promoted a patented approach it said could grow real muscle and fat cells from pluripotent stem cells (PSCs) “at speed and with 100% efficiency.” If achieved at scale, such a process could address two of the sector’s toughest challenges: cost and manufacturing throughput.
Leadership changes also signaled an effort to mature from R&D toward commercialization. In May, Meatable appointed US meat industry veteran Jeff Tripician as CEO, a move often interpreted as bringing operational and market expertise to complement scientific capability.
Funding history shows strong backing, but runway ultimately ended
Despite the shutdown, Meatable had attracted substantial capital over its lifetime. Data provider Traxcn estimates the company raised more than €85.3 million (about $100 million). Among its notable rounds was a €29.8 million ($35 million) financing in August 2023 led by Agronomics.
The company also secured non-dilutive and strategic support. In 2024, it was awarded €7.6 million under the Innovation Credit programme from the Netherlands Enterprise Agency, RVO. It also partnered with Desmos Capital Partners to place €30 million of capital and received strategic investment from Betagro Ventures, the venture arm of Thailand’s Betagro food group.
Even with that history, the inability to raise follow-on funding in 2025 underscores the difficult environment for capital-intensive food and deeptech startups, particularly those requiring large-scale manufacturing buildouts and long regulatory timelines before meaningful revenue can be realized.
Broader implications for cultivated meat funding
Meatable’s wind-down adds to signs of strain across the cultivated meat sector, where companies must balance scientific progress with the high costs of scale-up, facility development, and regulatory engagement. The shutdown also highlights how quickly sentiment can shift in venture markets, especially when investors prioritize near-term traction and clearer paths to profitability.
For the Netherlands and wider European ecosystem, the closure is a setback for a category that has been promoted as a potential pillar of sustainable food innovation. It also raises questions about how European cultivated meat companies can secure sufficient long-duration funding while navigating slower regulatory processes compared with some Asian markets.
Neither Meatable nor Agronomics disclosed details on the wind-down timeline, employee impacts, or whether any assets—such as intellectual property or cell lines—could be sold or transferred. For now, the company’s shutdown marks the end of one of Europe’s more prominent cultivated meat ventures.
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