BlueNalu Secures $20 Million in Series A Financing
02/26/20, 12:26 PM
Location
Money raised
$20 million
Industry
food and beverage
Round Type
series a
BlueNalu, a leading innovative food company producing seafood directly from fish cells, today 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 world-class team, implement strategic alliances for global operations and distribution, and prepare for its market launch.
Company Info
Location
san diego, california, united states
Additional Info
Prince Khaled is the founder and CEO of KBW Ventures, a venture fund focused on the intersection of innovation and economic growth, which has participated in three of BlueNalu’s financing rounds over the past five years. With holdings in three continents, Prince Khaled brings a global perspective, invaluable insights and relationships, which will make him a key asset in supporting BlueNalu’s goal to commercialize its premium cell-cultured seafood products over the coming years.
BlueNalu's platform technology is designed to produce seafood directly from fish cells in order to address the challenges of declining marine species populations and the increasing global demand for seafood. Approximately 3 billion people worldwide rely on seafood for nutritious protein, for which consumption has increased faster than any other animal-sourced food over the last 60 years with demand at an all-time high. By 2050, the global supply chain gap is expected to reach 50 million tons. The company aims to complement traditional fishing methods and provide a responsible alternative that is healthy for people, humane for animals, and sustainable for the planet.
BlueNalu’s mission is to develop great-tasting, healthy, safe and trusted cell-cultured seafood products that support the sustainability and diversity of our ocean. BlueNalu is a member of the United Nations Global Compact and aligned with the UN Sustainable Development Goals, a blueprint to achieve a better and more resilient future for our planet. BlueNalu began its operations in 2018 and is based in San Diego, California.
For more information about BlueNalu’s corporate and scientific advisory boards please visit https://www.bluenalu.com/advisory-board.