Investment of €16 million secured by Blue Seafood for farmed fish production
Bluu Seafood Secures €16 Million in Series A Funding for Cell-Cultivated Fish Production
Bluu Seafood, a startup specializing in the cultivation of fish cells for sustainable fish meat production, has successfully secured €16 million in its Series A funding round. The round, which saw significant investments from various prominent entities, will enable Bluu Seafood to establish a pilot production plant in a former marzipan factory in Hamburg-Altona by autumn 2023.
The Series A round's largest investors include Sparkfood from Sonae in Portugal and LBBW Venture Capital of Landesbank Baden-Württemberg. Other participants include Asian investor Sea X Ventures, Innovationsstarter Fonds Hamburg, and Dr. Oetker.
Founded in 2020 by Dr. Sebastian Rakers and Simon Fabich at the Fraunhofer Institute for Marine and Cellular Biotechnology (EMB) in Lübeck, Bluu Seafood is now opening its headquarters in Hamburg and planning its pilot production facility for cell-cultivated fish.
Co-founder and CEO Sebastian Rakers speaks of the "enormous future potential" of cultivated fish as a platform technology for sustainable animal protein. He also notes that the market dynamics are huge, especially driven by recent approvals from U.S. regulatory bodies for cell-cultured foods and the upcoming launch of the first products in the American market.
Bluu Seafood aims to bring its first products, fish balls and sticks made from cultivated fish cells, to market in Singapore in 2024, followed by the USA and later Europe. The startup's mission is to revolutionize the seafood industry with its sustainable and ethical approach to fish production.
The Foodlab-Accelerator program may have been involved in the development of Bluu Seafood's business models. The startup's plans for the pilot production plant in Hamburg-Altona underscore its commitment to innovation and sustainability.
With the Series A funding, Bluu Seafood is poised to make a significant impact in the seafood industry, offering a more sustainable and ethical alternative to traditional fishing methods. The startup's success is a testament to the growing interest in cell-cultivated food as a viable solution for a more sustainable future.
bluu.bio, the brand name of Bluu Seafood, is set to change the way we consume seafood, one fish ball or stick at a time.
