Alternative seafood startup Aqua Cultured Foods reels in $5.5M

News Summary

  • The company also produces minced “seafood” fillings for applications like dumplings, ravioli and sushi rolls.“Just texturally speaking, there’s nothing like it,” Palermo said.
  • Meanwhile, investors expect 40 investments to be made in this sector this year, up from 36 in 2022, according to the Good Food Institute’s annual investor report.Within the past year, TechCrunch reported on a number of those investments into startups producing alternatives to traditional seafood.
  • For example, one of the biggest venture capital investments into alternative seafood in 2022 went into Wildtype, which raised $100 million in a Series B round for its cultured salmon product.
  • Venture capital investors focused on food tech are calling 2023 the year when alternative seafood startups will make notable strides.
  • “Then we can produce it ahead of time to get exactly what they need.”4 investors discuss the next big wave for alternative seafood startups
  • It’s quite an accomplishment.”Palermo was mum on exactly how the technology worked, but did say the company was using proprietary mycoprotein (fungi) fermentation processes that don’t include any animal inputs, genetic altering or modification.
Venture capital investors focused on food tech are calling 2023 the year when alternative seafood startups will make notable strides. Meanwhile, investors expect 40 investments to be made in this sec [+5347 chars]