BlueNalu whole muscle yellow-tailed amberjack based on cells.
Source: BlueNalu
First, it was chicken raised in the laboratory. Now, it’s seafood.
San Diego-based food startup BlueNalu said on Tuesday that it has raised $ 60 million in convertible banknote financing as it prepares for a possible market launch later this year.
“This recent funding will allow us to continue to advance our mission and into the next phase of our marketing plans, while continuing to develop strategic partnerships that we hope will provide us with a global market reach over the next few years,” said Lou Cooperhouse, President of BlueNalu and CEO, in a statement.
BlueNalu plans to use the funds to complete its regulatory review with the Food and Drug Administration and begin testing its products at a variety of foodservice outlets across the United States. The company did not disclose the names of any foodservice partners.
Plans are also underway to open a nearly 40,000 square foot pilot production facility.
Rage Capital led this round of financing. Agronomics, Lewis & Clark AgriFood, McWin, KBW Ventures and Siddhi Capital also participated.
Cell-based or cultured seafood is created by extracting fish cells and growing samples in large bioreactors. The company plans to introduce mahi mahi as its first cultured seafood item, followed by bluefin tuna.
At the end of last year, the Singapore Food Agency approved the cell-grown chicken made by Eat Just. This was the first chicken raised in the laboratory to receive regulatory approval, and the company is seeking additional approvals to sell its products in other markets, including the United States.