Harvested meat provider Meatiply raised $3.75 M Seed funding from Wavemaker Partners, others

Meatiply, a company that produces and sells harvested meat, has raised $3.75 million in its initial seed funding round. AgFunder and Wavemaker Partners, two current investors, co-led the round with Seeds Capital’s participation.

Together with business partners, the Singapore-based startup will increase production and R&D capacity. Two years before its anticipated commercial launch, in 2024, a new facility will begin operations.

Meatiply’s co-founder and COO, Benjamin Chua, stated that the company is now “positioned to launch a product within an unprecedented five-year timeframe since our founding” thanks to the new facility.

Meatiply is creating meat substitutes by combining various cell types, like muscle, fat, and skin, to create natural substances that mimic the flavor and nutritional benefits of actual meat.

The company has displayed three prototypes across various species since its US$1 million pre-seed round in 2022, including the first cultivated smoked duck breast in Asia.

Meatiply is one of the few cultivated meat startups to raise seed funding this year amidst a difficult investment environment. Cell-based meat producers are losing out to Singapore’s agritech and foodtech companies that focus on plant-based proteins, which are getting the majority of funding.