Meatly, a London-based cultivated meat startup focused on pet food, has raised £10.4M ($14.25M) in Series A funding led by Oyster Bay Venture Capital, Clean Growth Fund, and JamJar Investments, with participation from existing investors Agronomics and Pets at Home. The company grows real chicken cells from a single egg for sustainable pet treats like Chick Bites. The new capital brings total funding to £17.4M and will fund Europe's largest 20,000-litre bioreactor facility in London for commercial-scale production starting in 2027.
UK Approval Fuels Pet Meat Scale-Up
Meatly's raise follows the UK's pioneering approval of cultivated meat for pet food in July 2024, the first in Europe. This regulatory tailwind enabled Meatly to launch the world's first commercial cultivated pet food sales in the UK. Globally, Magic Valley debuted Australia's first lab-grown pet treats in March 2026, which sold out rapidly, while BeneMeat Technologies eyes a 2026 launch. Meatly differentiates through aggressive cost cuts, including a chemically defined medium at £0.22 per litre and in-house bioreactors 10x cheaper.
Pet Food Gulps 20% Global Meat
Pet diets account for 20% of global meat production, straining sustainability amid rising demand. The global pet food market reached $128.21B in 2024 and projects growth to $185.54B by 2030 at a 6.35% CAGR per Arizton. Conventional proteins face supply shocks from poultry shortages, pushing premiums and ethical concerns for pet owners. Current alt-proteins like plants lag in consumer acceptance compared to cultivated meat resembling real animal products.
Single-Egg Cells Slash Production Costs
Meatly starts with cells from one chicken egg to produce batches of cultivated meat, avoiding animal slaughter. Key breakthroughs include reducing culture medium costs to £0.22/litre and bioreactor expenses by 10x through vertical integration. These enable price parity with conventional meat, critical for pet food retailers. Already supplying UK retailers like Pets at Home, Meatly positions cultivated chicken as a premium, planet-friendly option.
As CEO Owen Ensor noted:
“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… Now we have our own industry-leading technology, and we are ready to scale.”
Vertical Integration Drives Differentiation
Unlike peers focused on R&D, Meatly vertically integrates bioreactor manufacturing for cost leadership. This allows scaling to industrial volumes while maintaining quality. The approach addresses the high capex barrier in cultivated meat, where media and hardware historically limited viability. Meatly's pet-first strategy leverages lower regulatory hurdles before human food expansion.
Strategic Investors Back Industrial Pivot
New lead investors Oyster Bay Venture Capital, Clean Growth Fund, and JamJar signal conviction in Meatly's path to commercialization. Oyster Bay's Elise Schumacher highlighted the shift from concept to application. Existing backers like Pets at Home provide retail validation, having co-launched Chick Bites. The round underscores a pivot from lab demos to factory buildout amid investor caution in broader alt-proteins.
As Elise Schumacher of Oyster Bay Venture Capital noted:
“Meatly is not just building a new product – it’s laying the foundations for an entirely new protein category… Meatly has shown a clear ability to move from concept to real-world application…"
Alt-Protein Trends Favor Pet Entry
Sustainability drives alternative proteins in pet food, with cultivated meat as an early beachhead due to lighter regulations. Consumer surveys show pet parents prefer lab-grown over vegan options for nutrition and ethics. European peers like Mewery advance cell lines, but trail Meatly's commercial sales and facility plans. UK guidance on cell-based meat hygiene further de-risks operations.
Factory Build Targets 2027 Launch
With the Series A, Meatly breaks ground on its 20,000-litre London facility, Europe's largest for cultivated meat. Production ramps for wider 2027 availability post-approval expansions. Hiring signals include facility managers and cell culture roles to support scale-up. Partnerships like Pets at Home position for national rollout, capitalizing on first-mover status.