Chief Seafood Producer BlueNalu Raises $20M in Series A Round of Funding

BlueNalu plans to develop a high-quality manufacturing practices (GMP) pilot production center in San Diego, implement strategic alliances for global operations and distribution, expand its world-class team, and prepare for its market launch.

FREMONT, CA: BlueNalu, a California-based pioneering food company that produces seafood directly from fish cells, announced the completion of $20 Million funding in Series A. The round of funding was co-led by CPT Capital, New Crop Capital, Stray Dog Capital, and Clear Current Capital, each of which took part in BlueNalu's seed funding.

In 2018, the company elevated $4.5 million. The disorderly potential of BlueNalu has enticed investors from 11 nations, comprising Luxembourg, Netherlands, Saudi Arabia, South Korea, Brazil, Hong Kong, Israel, Japan, the United Kingdom, and the United States.

With the freshly raised funds, BlueNalu plans to develop a high-quality manufacturing practices (GMP) pilot production center in San Diego, implement strategic alliances for global operations and distribution, extend its world-class team, and prepare for its market launch.

"BlueNalu has made substantial progress toward bringing cell-based seafood products to the world," stated Lou Cooperhouse, president & CEO of BlueNalu. "We have designed and fulfilled a platform technology in which we will finally offer a broad array of supportable cell-based seafood products to consumers.

Our team has been exceedingly focused on implementing systems and processes required for cost-effective, large-scale production. We are greatly thankful to the committed group of visionaries who engaged in our previous financing round and have invested repeatedly in this round; we are keen to form partnerships with these five tactical investors so that we can efficiently commercialize and launch our cell-based seafood products in nations around the world."

Investors of Series A come from various fields that provide a wide array of expertise and infrastructure in the supply chain, marketing, distribution, operations, and sales. New investors in this round incorporate KBW Ventures, headed by His Royal Highness Prince Khaled bin Alwaleed bin Talal Al Saud. Among other tactical investors, global supply chain leaders will offer guidance and raw materials to BlueNalu. Investors like Nutreco and Griffith Foods will give BlueNalu market insights, food science, culinary, and sensory optimization expertise. Strategic investors such as Pulmuone and Sumitomo Corporation of America will provide their operations, sales, and distribution expertise.