BlueNalu, producer a variety of seafood products directly from fish cells, today announced the closing of $60 million in debt financing from new and existing investors, which is the largest financing to date in the cell-based seafood industry worldwide, according to BlueNalu.
The company announced last year the closing of a $20 million Series A round in early 2020 and a $4.5 million Seed round back in 2018. The new funds will be used to open a nearly 40,000-square-foot pilot production facility, achieving FDA approval testing, and carrying out market testing in foodservice settings across the US.
“The BlueNalu team is committed to producing cell-based seafood products that are healthy for consumers, humane for animals, sustainable for the planet, and increase food safety in every country where we go to market,” said Lou Cooperhouse, president and CEO of BlueNalu. “This latest round of funding will allow us to continue to advance our mission and the next phase of our commercialization plans as we continue to develop strategic partnerships that we expect will provide us with global market reach in the years to come.”
