REG - Agronomics Limited - Meatly completes £10.4 million Series A funding

AgronomicsAnnouncement

Thu 16:15

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RNS Number : 4852D  Agronomics Limited  07 May 2026

 Agronomics Limited

("Agronomics" or the "Company")

 

Portfolio company Meatly completes £10.4 million Series A funding round

Proceeds to fund 20,000-litre facility in London

 

Agronomics (AIM: ANIC), the leading AIM listed clean food company, announces
that its portfolio company, Good Dog Food Limited, trading as Meatly
("Meatly"), has completed a £10.4 million Series A funding round.
Participants included Clean Growth Fund, Oyster Bay, JamJar Ventures, Jim
Mellon and existing investors.

 

The financing follows £7.1 million of seed funding from Agronomics and Pets
at Home, bringing total funding raised by Meatly to £17.5 million.

 

Since launching in 2022, Meatly has focused on reducing the cost of cultivated
meat production. In 2024, it announced a reduction in the cost of its
protein-free medium to £0.22 per litre and, in 2025, an approximately tenfold
reduction in bioreactor costs. Following regulatory authorisation in 2024,
Meatly launched the world's first cultivated pet food in a commercial trial in
2025.

 

The new funding will support development of a 20,000-litre bioreactor facility
in London, which Meatly expects to be the largest of its kind in Europe.
Fit-out is expected to commence immediately, with product launches anticipated
in 2027.

Owen Ensor, CEO, Meatly, comments: "This investment marks a powerful
endorsement - not just of Meatly, but of Britain's foodtech and biotech
sectors. 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 and building the strongest possible technical
foundation for growth. Now we have our own industry-leading technology, and we
are ready to scale."

 

Ensor continued, "This step will allow us to prove commercial viability at
scale and start to continually produce Meatly Chicken to the UK pet food
market."

 

Jim Mellon, Executive Chair at Agronomics and Chair and Founding Investor at
Meatly said: "The market opportunity for sustainable and high-quality protein
is enormous, but success in this category ultimately comes down to one thing:
bringing down the cost of production. The team at Meatly has consistently
cracked this challenge, reducing costs by building their own bioreactors,
developing their own culture medium, and staying focused on what it takes to
scale.

 

That combination of technical rigour and financial discipline is exactly what
wins in this market, that's why we founded the company and continue to support
them. This approach has earned Meatly fresh capital from new investors as the
company scales production, aiming to build a more resilient, secure and
sustainable protein supply chain across the UK and Europe."

 

Agronomics has invested £1.1 million into Meatly since inception. Following
completion of the Financing, Agronomics will carry its position in Meatly at
£3.2 million (31/12/2025: £4.5 million). Agronomics has an equity ownership
in Meatly of 11.57% on a fully diluted basis.

 

 

ENDS

 

About Meatly

Meatly was founded in 2022. The company produces ethical and sustainable
cultivated meat products without compromising on essential nutritional
benefits. In the last four years, they have created industry leading
technology and became the first company to ever sell cultivated meat in
Europe. Their current focus is on the pet food market.

About Agronomics

Agronomics is a leading London-listed company focused on investment
opportunities within the field of clean food. The Company has established a
portfolio of over 20 companies developing technologies that produce food and
materials historically derived from animals, offering solutions for improved
sustainability, human health, and food security.

A full list of Agronomics' portfolio companies is available at
www.agronomics.im (http://www.agronomics.im/) .

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

For further information, please contact:

 

 Agronomics Limited   Beaumont              Cavendish Capital     Canaccord Genuity     33Seconds

                      Cornish Limited       Markets               Limited               Limited

                                            Limited
 The Company          Nomad                 Joint Broker          Joint Broker          Public Relations
 Jim Mellon           Roland Cornish        Giles Balleny         Andrew Potts          Jack Ferris

 Denham Eke           James Biddle          Michael Johnson       Harry Pardoe          Joel Watson
 +44 (0) 1624 639396  +44 (0) 207 628 3396  +44 (0) 207 397 8900  +44 (0) 207 523 8000  agronomics@33seconds.co

 info@agronomics.im

 

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated
Adviser and is authorised and regulated in the United Kingdom by the Financial
Conduct Authority. Beaumont Cornish's responsibilities as the Company's
Nominated Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM Rules for
Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont
Cornish is not acting for and will not be responsible to any other persons for
providing protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in the
announcement or any matter referred to in it.

 

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