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