Tuesday, April 16, 2024
HomeTechnologyBluu Seafood reels in $17.5M to deliver cultivated fish merchandise to market

Bluu Seafood reels in $17.5M to deliver cultivated fish merchandise to market

Bluu Seafood, a German firm creating cultivated (i.e. “lab-grown”) fish merchandise, at present introduced it has raised €16 million ($17.5 million) in a Sequence A spherical of funding.

Based out of Berlin in 2020 initially as Bluu Biosciences, Bluu Seafood begins with a “one-time” fish biopsy — which, it says, doesn’t require killing any fish — after which makes use of stem-cell expertise to develop total cell traces (i.e. fish species) inside a lab.

The corporate unveiled its first merchandise final August, together with a line of fish sticks (or “fish fingers”) and fish balls. These are created from cultivated fish cells which are enriched with plant proteins, a course of it says helps make their mouth-feel and cooking course of extra reasonable.

bowl of lab-grown seafood

Bluu Seafood’s cultivated fish balls Picture Credit: Bluu Seafood

Manufacturing issues

Bluu Seafood is one in all quite a few biotech startups which are setting out to handle the world’s seafood manufacturing issues, which incorporates overfishing, contamination, and cruelty. However the motion will not be restricted to marine animals, with numerous firms elevating bucketloads of VC money to breed the whole lot from bacon to burgers and hen and past.

Bluu Seafood, for its half, had raised €7.1 million in funding up to now, and with one other €16 million within the financial institution it’s now gearing as much as attain regulatory approval in numerous markets, together with Singapore which is at the moment the one market on this planet the place cultured meat (hen) is that can be purchased. Nevertheless, the Meals and Drug Affiliation (FDA) additionally began rubberstamping such edibles as being protected for human consumption, and simply this week it accredited two firms to start promoting their lab-grown hen merchandise — so we are able to count on some industrial exercise within the U.S. within the very close to future.

First up, Bluu Seafood is aiming to enter Singapore, the place it says it expects to obtain approval a while in 2024, whereas it says it has additionally kickstarted the approval course of with the FDA, and can then set about concentrating on the European market.

Bluu Seafood’s Sequence A spherical was led by Sonae-subsidiary Sparkfood and LBBW VC, with participation from Supply Hero, SeaX Ventures, Manta Ray Ventures, Norrsken VCHamburgische Investitions- und Förderbank and Dr. Oetker.



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