Bluu Biosciences secures investment for development of cell-cultured fish

Bluu Biosciences has secured an $8.2m (€7m) investment in a funding round to create a lab-grown fish replacement.

The funding round was joined by companies such as Manta Ray Ventures, Norrsken VC, Be8, CPT Capital and Lever VC.

Bluu Biosciences co-founder and managing director Simon Fabich was quoted by Tech Crunch as saying: “There is a lot of talent in Europe and very little companies built in this space. If you compare it to the mammalian space there are a lot fewer companies.”

Based in Berlin, Germany, Bluu Biosciences is engaged in the development of cell-based versions of fish.

The company is primarily focusing on cultivated versions of salmon, trout and carp with fish cells that are placed within bioreactors.

The company claims that the process helps in producing fish meat, without actually harming the ecosystem.

Bluu Biosciences intends to use the fund to support its biotechnology research and development work, as well as new product development efforts.

In January, US-based food technology company BlueNalu has raised $60m in debt financing from new and existing investors for producing cell-based seafood.

The company is engaged in developing a variety of seafood products directly from fish cells. It is using the funding for completing its commercial pilot facility for manufacturing cell-based seafood and support plans for market launch later this year.

Rage Capital led the $60m convertible note financing, with other significant participants, including Agronomics, Lewis & Clark AgriFood, McWin, and Siddhi Capital.