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US-based cultivated seafood company BlueNalu has raised $33.5 million to scale its cultivated toro platform.

BlueNalu Secures $33.5M to Expand Cultivated Toro Platform Ahead of Launch

October 14, 2023October 13, 2023

US-based cultivated seafood company BlueNalu has raised $33.5 million from new and existing investors in a Series B round, announces Agronomics, the UK’s leading biotech VC with a strong portfolio of cell ag companies, including BlueNalu. The new funds will allow BlueNalu to scale the production of cultivated toro (the high-value portion of bluefin tuna) and demonstrate the technological capabilities of its platform to create whole-muscle products. BlueNalu is based in San Diego, California, where it operates a 40,000-square-foot pilot facility producing small batches and carrying out market testing and research insights in food service settings across the USA. The announced plan is to scale the current production further and prepare to launch, following regulatory approval, its first commercial product (toro). BlueNalu raised $60 million in debt financing …

Organisations and brands:

BlueNalu

Israeli food tech Wanda Fish Technologies has secured $7 million in seed funding to scale the production cultivated bluefin tuna.

Investments & Finance

Wanda Fish Technologies Raises $7M for Pilot Production of Cultivated Bluefin Tuna

October 9, 2023

Israeli food tech Wanda Fish Technologies announces it has secured $7 million in seed funding to scale the production of its first product — cultivated bluefin tuna whole-cut filet. The company claims that its cultivated bluefin tuna, produced according to non-GMO standards, replicates the texture, flavor, and nutritional value of wild-caught fish without ocean pollutants like mercury. The round was led by Netherlands-based global aquaculture investment fund Aqua-Spark, with additional funding from previous pre-seed investors The Kitchen Hub by the Strauss Group, Peregrine Ventures, LLC, PICO Venture Partners, MOREVC, and CPT Capital, LLP. To date, the company has raised $10 million in capital. “We are on a shared mission to improve the global food value chain, creating a tasty, more sustainable future for all. This financial backing …

Organisations and brands:

Wanda Fish Technologies

Company News

BlueNalu Strengthens Deals with APAC Seafood Leaders to Introduce Cultivated Bluefin Tuna in Asian Markets

October 4, 2023

US-based cultivated seafood company BlueNalu has announced extended and improved partnerships with three prominent seafood APAC industry leaders: Japan’s Mitsubishi Corporation, South Korea’s Pulmuone Co. Ltd., and Thai Union. The expanded collaborations include independent Memorandums of Understanding with each company to support BlueNalu in developing market strategies to launch its sustainable cultivated bluefin tuna in the region over the coming years. The strategic partners will support the biotech in three areas including market research on consumer preferences, emerging trends, and evolving market dynamics. It will also help expedite the approval process of regulatory requirements and support market entry, distribution, and supply chain management strategies to introduce BlueNalu’s products to consumers, food service, and retailers across the APAC region. Lou Cooperhouse, president and CEO of BlueNalu, shared: “We are …

Organisations and brands:

BlueNalu

German Pea Protein Leader endori Adds Vegan Tuna to its Growing Portfolio of Pea Products

September 1, 2023

Germany’s endori, previously known as Amidori, is the newest addition to a list of at least ten global vegan tuna launches so far this year. While many of the plant-based tuna products are produced with soy, wheat, legumes, seaweed and algae, or a mix of plant proteins, this stands out as one of the few created with a pea protein base, making it suitable for those with dietary requirements and allergies. It is worth noting that Nestlé’s Vuna has been priced at around €6.50 euros for a small jar, creating an opportunity for more affordable products on the European market. Authentic flavour with tuna-like structure The NPD joins the brand’s two existing alternative seafood products — fishcakes and fingers — in its portfolio which entails …

Organisations and brands:

Endori

Image courtesy of Squeaky Bean

Products & Launches

Squeaky Bean Enters Plant-Based Seafood Category with Tuna Flakes and Smoked Salmon Slices

August 30, 2023

British plant-based meat brand Squeaky Bean announces the launch of its first-ever fish alternatives: Squeaky Bean Tuna Style Flakes and Squeaky Bean Beechwood Smoked Salmon Style Slices; marking what the brand claims to be the first vegan smoked salmon-style slices to be available in major retailers. The new smoked salmon slices will launch first at Waitrose on the 20th of September. And from the 27th of September, both products will be available at Sainsbury’s stores across the UK. Squeaky Bean, which keeps expanding its portfolio with vegan versions of the traditional snack sausage rolls or crumbed ham slices, says that its NPDs respond to the growing demand for plant-based fish. Becky Youseman, marketing controller at The Compleat Food Group, said: “Eating fish is a popular diet …

Organisations and brands:

Squeaky Bean

©Crespel Deiters Group

Meat- and Fish Alternatives

Loryma Develops Plant-Based Tuna from Wheat as Alt Tuna Continues to Soar

August 30, 2023

German wheat specialist Loryma, a brand of the Crespel & Deiters Group, has developed vegan concepts for wheat-based fish substitutes, as demand and interest for fish-free fish continues on a global level. For context, and as we previously noted, a recent report by Data Bridge Market Research predicts that the plant-based seafood market will grow with a considerable CAGR of 28.5% through 2029; a previous report highlights alt seafood as a significant driver of the plant-based food market as a whole; and another from this June cites vegan seafood as an area of increased relevance to the industry as a whole. Additionally, this week ProVeg stated that although the alt seafood sector is still smaller than plant-based meat and dairy, it has experienced exponential growth and …

Organisations and brands:

Loryma

Meat- and Fish Alternatives

UNLIMEAT to Further Expand its Portfolio With Plant-Based Tuna

August 9, 2023

UNLIMEAT’s CEO and founder, Keum Chae Min, confirms that the company is preparing for the launch of its new plant-based tuna products, which will be available in three different flavors. The South Korea-based company is most known for its plant-based Pulled Pork and Korean BBQ lines, which are sold in 1,500 Albertsons stores across the US and were recently promoted through an LA Food Truck Tour. In May, the company further announced a partnership with the Korean-Style corn dog shop Two Hands to launch a vegan option containing UNLIMEAT’s vegan sausage. The plant-based meat company has now announced its first step into fish alternatives with a line of plant-based tuna products, as interest in alt seafood continues to rise globally. The new range, said to …

Organisations and brands:

Unlimeat

Company News

Impact Food and Pokeworks Enter Distribution Deal to Bring Plant-Based Tuna to the Masses

June 27, 2023June 27, 2023

Californian alt seafood startup Impact Food announces the launch of its flagship plant-based tuna at Pokeworks’ most popular location in Irvine, California, from the 28th for a limited time. Impact Food, which debuted in February its Impact Tuna at Onigilly, a Japanese eatery with three locations in San Francisco Bay Area, now announces a strategic distribution agreement with the fast-casual poke brand to expand and provide a broader audience with “uncompromising” sustainable alternatives. Pokeworks, the world’s leading fast-casual poke brand, has more than 60 locations nationwide and restaurants in Taiwan, Mexico, and Canada, and it plans to expand to over 100 stores in 2023. The chain has launched vegan offerings such as crab legs made by Aquamar and Omni’s vegan pork musubi. Impact Tuna Stephanie Claudino Daffara, co-founder & …

Organisations and brands:

impact food

Pokeworks

Meat- and Fish Alternatives

Seafood Giant John West Launches Plant-Based Tuna Salads in the UK

June 27, 2023

166-year-old seafood company John West has launched plant-based tuna salads in the UK, marking the first time it has offered an alt protein option in its home country. The salads are available in two varieties — Harissa and Indian — both containing couscous, lentils, and a tuna alternative made from soy and wheat protein. Other ingredients include vegetables, chickpeas, split peas, wild rice, and quinoa. “Enjoy a protein-packed Plant Power vegan salad to keep you fuelled throughout the day,” says John West on its website. “Powered by plants, just peel, stir, and eat for a deliciously convenient meal that’s bursting with flavour. 1 of your 5 a day, 100% recyclable packing, and no artificial ingredients.” The launches come after John West introduced its first ever …

Organisations and brands:

John West

Umani to launch new seafood made with microalgae

Meat- and Fish Alternatives

Philippines’ WTH Foods to Launch New Microalgae-Based Seafood Overseas

June 16, 2023

WTH Foods, a food tech startup based in the Philippines, has expanded into the plant-based seafood category with new frozen microalgae-based products enriched with Omega-3. The company, which already introduced its NPDs in the country, has plans to launch its vegan seafood products — crab cakes and plant-based tuna — in Europe and South East Asia, reported Food Navigator ASIA. WTH Foods claims its new products use microalgae biomass to deliver seafood flavor and provide DHA and Omega-3. They are said to be clean-label, with microalgae and oil as the main ingredients, 100% fishless, without heavy metals or microplastic. In January, the company launched Umani, a frozen plant-based meat brand made with microalgae, soy, and wheat proteins. The new seafood products join the Umami range, which includes sausages, meatballs, mince, …

Organisations and brands:

WTH Foods

Sustainability / Environment

BettaF!sh Celebrates World Ocean Day as It Saves 122 Tons of Tuna

June 8, 2023June 8, 2023

German alt seafood startup BettaF!sh is celebrating World Ocean Day by publishing official data on the company’s impact for the first time. BettaF!sh reports that it has saved 122 tons of real tuna to date — an estimated 29,775 skipjack tuna fish. This has prevented around 124 tons of bycatch. Figures suggest that 43% of worldwide tuna stocks are currently fished at unsustainable levels, with many fish caught before they can reproduce. Additionally, BettaF!sh has cultivated and harvested 11 tons of seaweed, which is estimated to have absorbed 1.32 tons of CO2 and conserved 1.25 million liters of freshwater. Seaweed does not require any soil, fertilizers, or pesticides to grow, and according to BettaF!sh, there is potential for many coastal communities to cultivate it as …

Organisations and brands:

BettaF!sh

Food Service

EAT HAPPY Trials Vegan Fish Sushi in Austria Where Vegan Diet is “Rising Steadily”

June 12, 2023May 31, 2023

EAT HAPPY, an in-store sushi concept and leading supplier of Asian convenience products in mainland Europe, launches three plant-based fish sushi products, stating that the company sees the “proportion of those people who eat a purely vegan diet rising steadily in Austria”. The products being trialed at four initial test markets in Vienna, Salzburg, and Innsbruck are Vegan Salmon Nigiri, Vegan Salmon Maki, and Vegan Tuna California. The vegan sushi products are set to expand nationally throughout Austria after the test phase. EAT HAPPY’s plant-based offerings EAT HAPPY is represented in more than 3,000 locations in stationary food retailers throughout Europe and operates 50 EAT HAPPY Shops as well as in more than 1,000 chests at stores such as Billa and Spar. Last May, the …

Organisations and brands:

EAT HAPPY

Meat- and Fish Alternatives

Singapore’s Yumeat Expands Shelf-Stable Vegan Meat Range Throughout Asia

May 29, 2023

In 2021, Ayam Brand — a Singaporean prepared and canned foods company established over 120 years ago — introduced a new plant-based meat brand called Yumeat. Using the tagline “Get your proteins from plants,” Yumeat debuted in Singapore with plant-based luncheon meat and minced meat — two shelf-stable, ready-to-eat plant-based products that were unique in the market at the time. “Good for you, good for the planet,” says Yumeat, adding, “Whether you are vegan or an aspiring flexitarian, we are here to help you achieve a sustainable lifestyle.” Expanding through Asia Over the past year, Yumeat has expanded into Malaysia, Australia, and Hong Kong, and it recently debuted in Thailand. Since its launch, the brand has been introducing new products, including Mapu Tofu and new …

Organisations and brands:

Asam Brand

Yumeat

Products & Launches

Franklin Farms Launches Plant-Based Tuna in Original and Jalapeño Flavors

May 10, 2023

Franklin Farms, a division of Keystone Natural Holdings has expanded its plant-based product line with the launch of a plant-based tuna product. Franklin Farms originally began as a mushroom farm in Franklin, Connecticut, over 20 years ago. Its product portfolio includes veggie patties, meatless meatballs, tofu, seitan, tempeh, chickpea tofu, vegan wraps, and more. The new tuna product will be available in two varieties, Original and Jalapeño, formulated from a blend of plant-based proteins. The alt tuna is non-GMO and cholesterol-free, and offers 9-10g of protein per 2oz serving. “Our plant-based tuna mimics the same bite, texture and flavor as traditional tuna and is unlike any other plant-based offering available in the market today,” said Cindy Wong, Vice President of Sales, Franklin Farms. “It is …

Organisations and brands:

Franklin Farms

Company News

BettaF!sh Tuna Sandwiches Available in Foodji Food Vending Machines Across Germany

May 4, 2023

BettaF!sh is now working with Foodji to supply offices, airports, train stations, hospitals, and production sites across Germany with the vegan tuna-style spread TU-NAH. Effective immediately, ready-to-eat sandwiches and salad bowls with BettaF!sh TU-NAH will be available in Foodji food vending machines across the country. The latest development from the Berlin startup follows its recent successes including expansion into +280 Müller stores in Germany, Austria, and Spain; 157 L’Osteria Restaurants; and onboard with Japan Airlines, to name a few. The partnership with Foodji is linked above all by the idea of sustainability: while BettaF!sh relies on the regenerative cultivation of European seaweed, Foodji manages its range with the help of artificial intelligence to prevent food waste. Controlled by artificial intelligence, the offer adapts entirely to …

Organisations and brands:

BettaF!sh

Company News

BettaF!sh Launches TU-NAH at 280+ Müller Stores Across Germany, Austria & Spain

April 20, 2023April 19, 2023

BettaF!sh announces the expansion of its plant-based TU-NAH spreads into to brick-and-mortar stores through a partnership with Müller, bringing the Berlin-based food startup one step closer to its vision of establishing seaweed in everyday life and building a new kind of algae industry. Effective immediately, TU-NAH spreads made with fava beans are available in +280 Müller stores in Germany, Austria, and Spain. With this step, the drugstore chain Müller not only wants to position itself as a food trendsetter, but is also driving the young algae industry in Europe together with BettaF!sh. The BettaF!sh team is particularly pleased with the product launch in Müller’s Spanish stores, as it marks the gain of a new European country. The development is the latest in a list of …

Organisations and brands:

BettaF!sh

Hooked Foods raises 10MSEK & opens crowdfunding

Investments & Finance

Hooked Foods Raises SEK10M From Top-Tier Investors & Opens Crowdfunding Campaign

April 13, 2023

After securing another ten million Swedish kronor (around $967,000) for its sustainable plant-based seafood, Swedish company Hooked Foods has announced its first limited crowdfunding round on Crowdcube. “We closed our raise with top tier investors, will continue to grow and YOU now have the unique opportunity to join our wave and invest in this round as well. Take your chance below, get your spot in our limited crowdfunding and join our movement!” said Tom Johansson, co-founder and CEO at Hooked Foods, on social media. A healthier seafood ecosystem Hooked was born in 2019 after Tom Johansson and Emil Wasteson were challenged to create a sustainable plant-based alternative to seafood to lead the transition to a healthier ecosystem. The company says that to date, it has …

Organisations and brands:

Hooked Foods

Interviews

Impact Food: “In the Next 5 years, Our Whole Cut Seafood Will Be Available Everywhere Around the World”

April 5, 2023April 5, 2023

San Francisco-based Impact Food was formed in 2020 when entrepreneur Kelly Pan met biochemist Adrián Miranda and computer scientist Stephanie Claudino Daffara, and the three set out to combine their fields of expertise to help prevent the collapse of wild tuna species through a scalable food technology platform. Backed by Future Food Fund, Serpentine Ventures, Ahimsa Foundation, and others, Impact secured $500,000 in strategic angel & VC funding last August, and just this month debuted its plant-based, sushi-grade tuna at all three locations of Japanese chain Onigilly. We were excited to speak to Kelly Pan, Impact’s co-founder and CEO, who holds a degree from UC Berkeley-Haas Business School. What is the mission of Impact Food? At Impact Food, we are building the future of food. …

Organisations and brands:

impact food

Food & Beverage

Aqua Cultured Foods to Begin First Public Tastings of Alt-Tuna, Shrimp and Scallops

March 30, 2023March 23, 2023

US food tech startup Aqua Cultured Foods announces it will begin consumer tastings of its seafood alternatives in Chicago, ahead of its public launch through chef partners and foodservice distributors. Beginning April 6, the startup will hold tastings of several alt-seafood products, including Aqua tuna rolls, shrimp dumplings and scallop crudo, at its headquarters in West Loop, Chicago. According to Aqua, it intends to solicit feedback from participants on the products’ quality compared to conventional seafood products, especially texture. Unique fermentation Founded in 2020, Aqua is developing a range of seafood alternatives, including whitefish, shrimp, scallops and tuna filets, with mycoprotein fermentation technology. Using a unique strain of fungi, the company says it is able to transform plant-based ingredients into realistic seafood alternatives that offer …

Organisations and brands:

Aqua Cultured Foods

Dongwon F&B / My Plant

Meat- and Fish Alternatives

South Korean Tuna Giant Dongwon, With Over 6.5 Billion Cans Sold, Unveils ‘My Plant’ Line

March 7, 2023

South Korea’s largest canned tuna maker Dongwon F&B has introduced a vegan food line called My Plant, unveiling a range of plant-based tuna and vegetable dumplings. The My Plant brand, which uses the slogan “plant-based recipes of my choice”, offers five plant-based tuna products, including one canned and four pouches. The Dongwon My Plant Dumplings range debuts with two products: kimchi flavor and regular dumplings. Both products are made from 100% plant-based ingredients, have 0% cholesterol, and contain plant protein. Dongwon’s new tuna has up to 31% fewer calories than lean tuna products while offering more dietary fibre than regular tuna, says the company. Alternatives in South Korea Dongwon F&B has been selling South Korea’s favorite tuna brand, Dongwon Tuna, since 1982. The brand, a …

Organisations and brands:

Dongwon

The vegconomist-newsletterinformation for decision-makers

The vegconomist-newsletter
information for decision-makers