- Wildtype raises $100 million from investors including Leonardo DiCaprio to expand production capacity in preparation for market launch.
San Francisco-based cultivated salmon startup Wildtype has raised $100 million in its Series B funding round. Led by L Catterton, the round is the largest ever for a cultivated seafood company.
The list of investors includes Leonardo DiCaprio, Bezos Expeditions, Temasek, Cargill, several notable chefs and athletes, and more. The round takes the total amount raised by Wildtype to over $120 million.
Wildtype says it will use the funding to expand production capacity. The startup is preparing for a market launch at fine dining restaurant partners as soon as its cultivated salmon gains regulatory approval from the FDA.
Wildtype initially launched a preorder list in September of 2020, announcing plans to partner with selected chefs to get its salmon on the menu at restaurants. This was followed by the opening of a pilot plant last July, which is said to be able to produce over 200,000 pounds of cultivated seafood per year. But for its commercial launch, Wildtype will need to further increase this capacity.
“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.”