London-listed investment company Agronomics has led a US$6 million initial closing of a Series A-4 round in Israeli cultivated meat company SuperMeat, contributing US$5 million of that total through the issue of new Agronomics shares rather than cash. Affiliated entity New Agrarian Company provided the remaining US$1 million in cash, with Milk & Honey Ventures and existing investors also participating. The round is targeting a total of US$10 million.
The shares are issued at 13.78 pence each, based on Agronomics’ net asset value per share as of 31 December 2025, and are subject to a one-year lock-in. Following completion, Agronomics will hold approximately 27.8% of SuperMeat on a fully diluted basis. The firm first invested in the company in December 2020 and has now committed a cumulative total of £15.2 million.
Switzerland as first commercial target
SuperMeat intends to use the funding to advance a licensing-led commercialization model, with Switzerland identified as its initial target market. Near-term activities include joint product development with Ajinomoto, under an existing R&D and technology development framework agreement, as well as a consumer validation study led by Migros in Switzerland, process verification at commercial scale, and a regulatory submission to Swiss authorities. The company has also extended its collaboration agreement with Micarna, a Migros Group subsidiary.
SuperMeat is additionally progressing a corporate reorganization under a UK holding company.
Cost and carbon benchmarks
The funding follows a series of technical milestones reported by SuperMeat over the past two years. In November 2024, the company disclosed a cost estimate of approximately US$11.79 per pound for 100% cultivated chicken at scale, a figure it described as broadly in line with premium pasture-raised chicken in the US. Earlier that year, a life-cycle analysis conducted by CE Delft estimated that SuperMeat’s cultivated chicken could generate around 50% lower carbon emissions than conventionally farmed chicken.
The Series A-4 also converts SuperMeat’s November 2025 SAFE instrument, in which Agronomics invested US$2 million, into equity.
Jim Mellon, Executive Chair of Agronomics, said: “SuperMeat’s Series A-4 financing marks an important step in its development and reflects continued progress towards commercial launch. Having supported the business since 2020, we believe the company is well-positioned to advance its licensing-led strategy, and we are pleased to continue backing the team through this next phase of growth.”
Admission of the new Agronomics shares to trading on AIM is expected on 15 May 2026.
