NEW TECH FOODS

Agronomics Limited portfolio company SuperMeat has secured $3.5 million in funding through a Simple Agreement for Future Equity (SAFE), with Agronomics contributing $2 million – $0.75 million in cash and $1.25 million via new shares.

Milk and Honey Ventures also participated in the round.

The funding will support SuperMeat as it commercialises premium cultivated chicken in Europe. The company has made significant strides in sustainable production: a 2024 life-cycle analysis estimated its chicken could cut carbon emissions by around 50% compared with conventional farming, while a cost-efficiency breakthrough lowered production costs to roughly $11.79 per pound at scale.

Agronomics first invested in SuperMeat in 2020 and has now invested £9.4 million, currently valued at approximately £14.2 million, representing 9.6% of Agronomics’ latest net asset value.

Jim Mellon, executive chair of Agronomics, said: "We are proud to further increase our investment in SuperMeat and its team. As global demand for protein continues to rise, it is essential to meet this demand sustainably, reducing the environmental and health impacts associated with industrial agriculture."

"Companies such as SuperMeat and its partners are delivering the science, technology and commercial readiness necessary to drive meaningful change. Its progress toward industrial-scale cultivated meat represents not only a compelling financial opportunity but also a strategic shift toward a cleaner, more resilient, and technologically advanced future for food."

Ido Savir, co-founder and CEO of SuperMeat, added: "We're honoUred by Agronomics' continued support and confidence in our work. Over the past year we have made substantial advancements across our production platform, for the first time, making cultivated chicken production commercially viable, and are now focused on translating these achievements into commercial launch."

"This investment supports our progress toward bringing cultivated chicken to market with partners who understand how significant this category can become as demand and expectations evolve."