BlueNalu secures $20 million in financing

BlueNalu, a food company producing seafood directly from fish cells, has announced the successful completion of its $20 million Series A round of funding. This financing will enable BlueNalu to develop a good manufacturing practices (GMP) pilot production facility in San Diego, expand its team, implement strategic alliances for global operations and distribution, and prepare for its market launch.

The Series A round was co-led by Stray Dog Capital, CPT Capital, New Crop Capital, and Clear Current Capital, each of which participated in BlueNalu’s seed round. BlueNalu secured $4.5 million in 2018 and has attracted investors from 11 nations to date. This round attracted several strategic investors that provide a range of expertise. The strategic investors include global supply chain leaders that will provide guidance and raw material expertise to BlueNalu. These include Nutreco, a global leader in animal nutrition and aquafeed, and Griffith Foods, a global product development partner to the food industry, with expertise in market insights, food science, culinary, and sensory optimization.

“BlueNalu has made considerable progress toward bringing cell-based seafood products to the world,” said Lou Cooperhouse, president and CEO of BlueNalu. “We have designed and executed a platform technology in which we will ultimately offer a broad array of sustainable cell-based seafood products to consumers, and our team has been extremely focused on implementing systems and processes that will be needed for cost-effective, large-scale production. We are extremely thankful to the committed group of visionaries who participated in our earlier financing round and have invested again in this round; and we are eager to form partnerships with these five strategic investors so that we can efficiently commercialize and launch our cell-based seafood products in nations around the world.”

Press release