Bluu Biosciences has raised €7 million in a round of financing from investors including Manta Ray Ventures, Norrsken VC, Be8, CPT Capital and Lever VC to compete with a host of startups like BluNalu, Wild Type and Shiok Meats in a bid to market with a lab-grown fish replacement.
The company is picking up speed quickly thanks to those other technology providers that are coming to market and will look to have a prototype product out by the end of 2022.
Austrian-based Revo Foods announced on Facebook it will host what it believes is the ‘world’s first’ public tasting event for its 3D-printed, plant-based ‘Salmon with Attitude’ at a restaurant in Vienna on 6 March. “The future of seafood has arrived!” it wrote. “After countless of hours spent on R&D, we are happy to announce that the world’s first 3D-printed plant-based seafood is here!” The company is the result of a student project looking at ways to commercialize vegan alternatives to salmon and tuna in Europe.
UAE-based KBW Ventures has increased its stake in US-based BlueNalu, participating in its newly-raised $60 million convertible note financing round. KBW Ventures previously invested in BlueNalu’s $20 million Series A round.The fresh round was led by Rage Capital and included the participation of Agronomics, Lewis & Clark AgriFood, McWin, Siddhi Capital, Clear Current Capital, CPT Capital, Flat World Partners, Losa Group, OurCrowd, Silicon Valley Community Foundation, AiiM Partners and Stray Dog Ventures along with several strategic investors. It marks the largest financing to date in the cell-based seafood industry worldwide.
To create a more sustainable seafood option, three Ph.D. students decided to apply their experience in 3D bioprinting. The result is the Austrian startup Legendary Vish, which uses plant-based ingredients and 3D bioprinting to re-create a realistic salmon fillet.
“Our medallions of yellowtail can be cooked via direct heat, steamed or even fried in oil; can be marinated in an acidified solution for applications like poke, ceviche, and kimchi, or can be prepared in the raw state,” said BlueNalu’s CEO Lou Cooperhouse in a statement. “This is an enormous accomplishment and we don’t believe that any other company worldwide has been able to demonstrate this level of product performance in a whole-muscle seafood product thus far.”
A start-up backed by Brexiteer billionaire Jim Mellon has raised $20m (£16m) to grow “fake fish” in the lab and capitalise on the trend for meat-free dietsBlueNalu, based in San Diego, California, is raising one of the largest early stage funding rounds in emerging “alternative meat” sector speaheaded by Wall Street darling Beyond Meat.