Cultivated meat producer Meatable has raised $47m in a Series A funding round to enhance its portfolio with beef products and support its next phase of growth.

The funding round was led by a consortium of life sciences and food investors, including DSM Venturing, Section 32, Dr Rick Klausner and Dr Jeffrey Leiden, as well as existing investors such as BlueYard Capital, Agronomics, Humboldt, and Taavet Hinrikus.

Meatable co-founder and CEO Krijn de Nood said: “To be able to meet the growing demand for meat in Asia and across the world, with Asia having the biggest pork demand in the world, we need breakthrough solutions.

“Cultivated meat has the potential to continue to produce the product we love – meat – using a much more efficient production process. Having Rick Klausner, Jeffrey Leiden, Section 32 and DSM support us in realising that potential is a huge step for Meatable.”

The latest round raises the total financing raised by the company so far to $60m.

Meatable finalised its first showcase product last year.

The new funds will be used by Meatable to advance small-scale production at the Biotech Campus Delft and diversify its product portfolio.

Nood added: “We are honoured to welcome a like-minded group of investors who support us on our mission – to develop, accelerate and bring to life sustainable, healthy and environmentally sound technologies that can improve the human condition.

“With this funding, we believe we are well on our way to bringing our first products to market to sustainably satisfy the world’s appetite for meat.”

Using its proprietary platform technology, Meatable aims to produce cultivated meat with no animals slaughtered, and by using less land and water and with low greenhouse gas (GHG) emissions.

Meatable explained that its technology is adaptable to any cell-based species such as cows, pigs, sheep, and fish.

The firm claims that its end-product will provide the full experience of eating actual meat, with the same texture, taste and nutritional benefits.

Meatable is currently focused on the further development of cultivated pork and beef.