Agronomics, an investor in cellular and cultivated meats, has announced £10 million of equity fundraising for alternative meat producers.

The fundraising will provide additional capital for Agronomics to make additional investments into the alternative meat market, having previously backed cultivated meat companies Mosa Meat, Meatable and LiveKindly.

Following the receipt of the net proceeds of the fundraising, Agronomics says it will have approximately £8.15 million cash available for investment.

Richard Reed, non-executive chairman at Agronomics, said: “The Board is extremely pleased to have raised a significant amount of funding to accelerate Agronomics growth and the still nascent field of cellular agriculture.

“With these funds, we will be able to continue to support some of the most exciting companies in sector that are already in our portfolio, as well as look to invest in new opportunities. In this round, we are glad to welcome new top tier institutional investors onto our register who are well placed to support us in our growth plans well into the future.”

Jim Mellon, non-executive director at Agronomics, added: “The further expansion of Agronomics’ capital is validation of its role in the thematic play of the New Agrarian Revolution. The company is at the forefront of investing in the food and material producers of the future.”