BlueNalu, a producer of cell-cultured seafood, has raised $33.5 million (€31.8 million) from new and existing customers.
UK-based investment firm Agronomics on Monday said BlueNalu, one of its portfolio companies, raised the funds in a series B financing round as the company targets premium foodservice operators in sushi and fine-dining establishments with its cell-grown portion of bluefin tuna.
Agronomics describes itself as a leading London company in the field of cellular agriculture, according to its website. Its investment portfolio also includes cultivated seafood producer Cell X and cultivated beef producer Mosa Meat.
Agronomics has invested $8 million (€7.6 million) across BlueNalu's seed and series A financings and a pre-series B convertible promissory note, with a 5 percent equity stake in the company, according to Marketscreener.
BlueNalue said last week it's strengthening its strategic partnerships with three major multinational seafood industry leaders in the Asia-Pacific (APAC) region.
These strategic alliances are designed to bolster BlueNalu's plans to introduce cell-cultured seafood in several APAC nations in the coming years, with a primary focus on gaining market insight, understanding regulatory requirements, and crafting effective go-to-market strategies.
The expanded partnerships involve independent Memorandums of Understanding (MOU) with Mitsubishi Corporation in Japan, Pulmuone Co. Ltd. in South Korea, and Thai Union in Thailand.
The three companies will provide BlueNalu with comprehensive market research; an understanding of regulatory requirements of each market, expediting the approvals and certifications needed for the distribution of BlueNalu's innovative products; and marketing and distribution strategies.
