Cultivated Seafood Company Wildtype Raises $100M from Investors including Leonardo DiCaprio and Jeff Bezos
The cultured salmon company (real salmon grown from cells) has announced the completion of a $100 million Series B funding round, the largest ever for cultivated seafood.
Image: Wildtype
San Francisco-based aquaculture company Wildtype announced that it has raised $100 million in its Series B funding round, the largest ever for a cultivated seafood company.
This latest investment brings the company’s total funding to more than $120 million. This round, led by L Catterton, was supported by new investors including Leonardo DiCaprio, Bezos Expeditions, Temasek, S2G Ventures Oceans and Seafood Fund, Robert Downey Jr.'s FootPrint Coalition, Cargill, as well as existing investors, including Spark Capital and CRV.
To create its cultured, sushi-grade salmon, Wildtype uses a small number of salmon cells. This provides real fish, all while removing the need to farm, catch, or kill a single animal. Wildtype debuted the salmon just last year, opening a first-of-its-kind pilot production plant in San Francisco’s Dogpatch neighborhood.
Wildtype’s pilot plant is able to produce nearly 200,000 pounds of cultured fish annually, but to launch in U.S. markets, it must expand its production capacity. Now, this latest funding round will allow the startup to do just that.
“This investment provides us with the capital necessary to dramatically expand our production capabilities to match the rapid growth in awareness and demand for cultivated seafood,” said Wildtype co-founder and CEO Justin Kolbeck. “Whether you are looking for mercury and microplastic-free seafood options, or trying to eat more sustainably, we want Wildtype seafood to be accessible to as many people as possible. The enthusiastic support from our high-caliber group of investors will help us achieve this.”
Also known as lab-grown or cell-based, cultured seafood is one of the leading solutions to help protect the world’s oceans, and can help reduce environmentally-destructive practices like overfishing and offshore fish farms. Wildtype was launched with the mission of transforming the food system by offering consumers real seafood without the ocean devastation. Its products are also free from mercury, microplastics, antibiotics, and other common contaminants.
“This capital raise will allow us to deliver on the promise of cultivated seafood: protection of our oceans with a truly sustainable, nutritious, and contaminant-free source of seafood,” said Wildtype co-founder Aryé Elfenbein. “Wildtype’s scaled-up production systems will also enable us to bring an unprecedented level of transparency and traceability to the salmon supply chain. We couldn’t be more excited to expand our existing partnerships and offer healthful seafood that is free of harm to both people and the planet.”
Cultivated products in the U.S. are still awaiting FDA approval. In anticipation for when that time comes, Wildtype has signed an agreement with two nationwide companies that will serve the salmon as soon as the red tape is cut.
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