Business
Meatly completes £10.4 million Series A funding
Agronomics Limited announces that its portfolio company, Meatly, has successfully completed a £10.4 million Series A funding round, bringing its total funding to £17.5 million. This new capital will be used to establish a 20,000-litre bioreactor facility in London, anticipated to be Europe's largest, with product launches planned for 2027. Meatly has demonstrated significant progress in reducing production costs, including a tenfold reduction in bioreactor costs and a decrease in medium cost to £0.22 per litre, and successfully launched the world's first cultivated pet food in a commercial trial in 2025. Agronomics' equity ownership in Meatly remains at 11.57% on a fully diluted basis, with its position carried at £3.2 million. Disclaimer*
About this update from Agronomics Limited
[{"type":"text","content":"\n\n Agronomics Limited\n(\"Agronomics\" or the \"Company\")\n \nPortfolio company Meatly completes £10.4 million Series A funding round\nProceeds to fund 20,000-litre facility in London\n \nAgronomics (AIM: ANIC), the leading AIM listed clean food company, announces that its portfolio company, Good Dog Food Limited, trading as Meatly (\"Meatly\"), has completed a £10.4 million Series A funding round. Participants included Clean Growth Fund, Oyster Bay, JamJar Ventures, Jim Mellon and existing investors.\n \nThe financing follows £7.1 million of seed funding from Agronomics and Pets at Home, bringing total funding raised by Meatly to £17.5 million.\n \nSince launching in 2022, Meatly has focused on reducing the cost of cultivated meat production. In 2024, it announced a reduction in the cost of its protein-free medium to £0.22 per litre and, in 2025, an approximately tenfold reduction in bioreactor costs. Following regulatory authorisation in 2024, Meatly launched the world's first cultivated pet food in a commercial trial in 2025.\n \nThe new funding will support development of a 20,000-litre bioreactor facility in London, which Meatly expects to be the largest of its kind in Europe. Fit-out is expected to commence immediately, with product launches anticipated in 2027.\n\nOwen Ensor, CEO, Meatly, comments: \"This investment marks 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.\"\n \nEnsor continued, \"This step will allow us to prove commercial viability at scale and start to continually produce Meatly Chicken to the UK pet food market.\"\n \nJim Mellon, Executive Chair at Agronomics and Chair and Founding Investor at Meatly said: \"The market opportunity for sustainable and high-quality protein is enormous, but success in this category ultimately comes down to one thing: bringing down the cost of production. The team at Meatly has consistently cracked this challenge, reducing costs by building their own bioreactors, developing...