Cell-cultivated protein company Meatable has wound up operations after failing to raise new funding.
London-listed Agronomics, a long-term investor in the Dutch business founded in 2018, said the Meatable board and its shareholders “have resolved to dissolve the legal entity and its related group companies and to terminate all operating activities”.
In a stock exchange notice on Friday (19 December), Agronomics added the Dutch firm has faced a number of challenges in 2025, described as “foreseeable and unforeseeable risks and uncertainties”.
Those, it said, “have had an impact on the company's ability to execute its strategy and deliver its expected performance” and included the failure to rise new funds from either existing or other investors.
Agronomics was one of the early investors in Meatable, set up by Krijn de Nood, Daan Luining and Dr. Mark Kotter to produce pork sausages and dumplings from lab-grown pig cells.
It took part in a $47m Series A funding round in 2021 along with existing investors BlueYard Capital, venture-capital fund Humboldt and angel investor Taavet Hinrikus .
DSM Venturing, venture-capital fund Section 32 and doctors Rick Klausner and Jeffrey Leiden also contributed to that round.
A further $35m was raised by Meatable in August 2023, including from Agronomics, taking total funding at the time to $95m.
Agronomics said in its filing on Friday that it had invested a total of £7.9m ($10.6m) in Meatable with a carrying value of £11.9m. That will now be written off to zero, the investor added.
“Following a thorough review of strategic options, the board and shareholders have concluded that an orderly wind-down of the business is the most appropriate course of action,” the notice read.
“The winding-up of Meatable will be conducted in accordance with the applicable statutory liquidation procedures.”
Meanwhile, Jim Mellon, the executive chair of Agronomics, said: “While this outcome is disappointing, we believe the decision has been taken responsibly and in the best interests of all stakeholders.”
The demise of Meatable comes after another cell-cultivated meat company recently closed down operations - Israel-based Believer Meats.
While widely reported in the media, Anne Schubert, Believer Meats’ global head of HR, took to LinkedIn earlier in December.
“After two years of building something bold and ambitious, my journey with Believer Meats has come to an end,” she wrote. “While the outcome is not what any of us hoped for, I am incredibly proud of what we accomplished together.”
