Global demand for seafood is set to soar in the coming years, yet in the first half of 2024 funding was down 40% compared to the first half of 2023.
“We have very low capex, which allows us to to sell at parity, or even in some instances, to undercut traditional seafood,” says CEO Brittany Chibe.
The startup has entered into an assignment for the benefit of the creditors (ABC), an alternative to formal bankruptcy proceedings that transfers a distressed company’s assets from the debtor to a trust.
Finless Foods is not commenting on rumors that it is reducing headcount to extend runway, raise capital, and rebuild at a later time.
Who will fund cultivated meat facilities if VC funds are no longer willing to stump up cash for capex projects?
36 alt seafood startups in 14 countries—spanning cultivated, plant-based, and fermentation-based segments—have joined forces to create a new trade association: Future Ocean Foods.
San Diego-based cellular aquaculture startup BlueNalu has raised $33.5m in a series B round from “new and existing investors.”
While the unit economics of cultivated chicken nuggets will likely be challenging for some time, making a high-value product such as Bluefin tuna in a bioreactor makes more sense, claims San Diego-based startup BlueNalu.
Aquaconnect will use the new capital to build up its product portfolio for both pre-harvest and post-harvest services for the aquaculture industry.
Victory Farms, East Africa’s largest commercial fish farmer, is setting its sights further afield in DRC, Tanzania and Rwanda.
The New Zealand startup just closed its pre-seed round.
Cultured Decadence has developed “proprietary cell lines and cell feed” for seafood products including lobster and other crustaceans.
The Chicago-based company will use the funds to commercialize its seafood analogs made with microbial fermentation.
CEO Sriram on why she made the leap from full-time scientist to founder – and how she reconciles vegetarianism with being a cultured meat eater.
The US startup will use the convertible note financing to complete its pilot production facility in San Diego. But its next factory could very well be in Asia, says CEO Lou Cooperhouse.
Hong Kong’s Avant will expand its focus beyond traditional Chinese cuisine with new products tailored to Western markets.
Shiok Meats is the first ‘lab-grown seafood’ venture in the aquaculture-focused VC’s portfolio, Aqua-Spark co-founder Amy Novogratz told AFN.
Two of Asia’s highest-funded alt-protein startups have joined forces to bring cultured, cellular ag-grown seafood to the masses.
Shiok Meats has just raised another $3 million in bridge funding as it sets its sights on commercialization of its cultured seafood products.
In the US, roughly 70% of seafood consumption is at restaurants and only 30% at home. With restaurant business falling off a ledge, what are the pandemic-evoked ramifications for seafood businesses? To find out, our resident fish geek called a variety of players in the chain to find out.
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