Fish-from-cells company raises $11m
Cell-cultivated seafood company BlueNalu has raised US $11 million (£8.13m) to advance commercialisation of its bluefin tuna meat grown from fish cells.
San Diego-based BlueNalu said the capital will support it as it prepares for market introduction of cultivated tuna, pending regulatory approval in the US.
The money is also expected to advance the company’s scale-up activities, including continued process optimisation and manufacturing readiness for its next-generation production facility, designed to support meaningful commercial production volume.
In parallel, BlueNalu plans to deepen its regulatory engagement in key global regions, including Singapore, Saudi Arabia, Japan, Korea, the United Kingdom and the European Union, and expand collaborations with culinary and distribution partners to support a strong international rollout over the coming years.
A differentiated approach
The internal fundraising was led by Agronomics, Siddhi Capital, and Lewis & Clark AgriFood, with additional participation from approximately 40 other existing investors.
“BlueNalu stands out in the cultivated protein space for its disciplined, differentiated approach and clear focus on premium foodservice demand,” said Steven Finn, managing partner at Siddhi Capital and a of the BlueNalu board. “The company has built a strong foundation around culinary quality and market relevance as it prepares for initial commercialisation.”
“We greatly appreciate the strong support from our prior investors and our global strategic partners as we advance towards commercialisation,” said Lou Cooperhouse, founder, president and chief executive of BlueNalu.
“This financing will enable us to move forward with our planned introduction of cultivated bluefin tuna toro, followed by commercialisation activities to expand our production and distribution capabilities to premium foodservice operators, initially in the United States and ultimately in markets worldwide.”
