BLUU Seafood, a prominent European food biotech company specializing in cultivated fish, has recently concluded its Series A funding round, raising an impressive €16 million. This substantial investment will provide the German start-up with the necessary capital to advance its pioneering technology and prepare for the market launch of its first cultivated fish products. What sets cultivated fish apart is that it is real animal protein grown directly from fish cells, eliminating the need for animal slaughter.
The Series A funding was spearheaded by Sparkfood and LBBW VC, with additional participation from SeaX Ventures, Manta Ray Ventures, Norrsken VC, Delivery Hero, Innovationsstarter Fonds Hamburg GmbH, and Dr. Oetker. Since its establishment in 2020, BLUU Seafood has raised over €23 million, demonstrating the growing interest and support for its innovative approach.
The newly acquired funding will primarily be allocated toward securing regulatory approvals for BLUU Seafood’s initial product offerings, expanding research initiatives, and initiating pilot production. One of the key focus areas for the company will be the development of hybrid products that blend fish cells with plant-based proteins, such as fish balls and fish fingers. BLUU Seafood first showcased these products in 2022, and they have received positive attention for their potential to provide sustainable and ethical alternatives to traditional seafood options. The company aims to enter the market in Singapore by 2024, leveraging the fact that regulators in the country approved the sale of cultivated chicken as early as 2020.
The United States is also preparing for the launch of cultivated meat and fish, following recent approvals from the U.S. Department of Agriculture (USDA) and the Food and Drug Administration (FDA) for start-ups like GOOD Meat and UPSIDE Foods. With the recent final approval from the USDA, the sale of cultivated protein is now officially permitted. BLUU Seafood has already begun the approval process with the FDA.
Furthermore, BLUU Seafood is constructing a pilot production plant set to be completed by the fall of this year. This plant represents a significant milestone for the company as it transitions from lab-scale production to larger fermenters, capable of accommodating volumes of up to 500 liters. The scaling up of production will enable BLUU Seafood to meet growing market demands and bring its cultivated fish products to a wider consumer base.
Dr. Sebastian Rakers, Co-Founder and CEO of BLUU Seafood, expressed his excitement about the successful Series A funding round, emphasizing the immense potential of cultivated fish as a sustainable platform for animal protein. He highlighted the company’s scientific advancements and acknowledged the pivotal role played by their international investor base in propelling BLUU Seafood’s development. Dr. Rakers concluded that BLUU Seafood is poised to embark on the next phase of its journey, bringing its innovative products to market.
BLUU Seafood’s achievement in securing significant funding and advancing its technology signifies a promising future for cultivated fish and the broader field of alternative protein sources. By offering sustainable and ethical alternatives to traditional seafood, BLUU Seafood is contributing to the global efforts aimed at addressing the environmental and ethical concerns associated with animal agriculture while also meeting the growing demand for high-quality protein. As the company progresses toward regulatory approvals and expands its production capabilities, consumers can look forward to a new era of environmentally friendly and cruelty-free seafood options.
Image provided by BLUU Seafood
