A US start-up developing “sushi-grade” cell-grown salmon as part of plans to create “the most sustainable seafood on Earth” has attracted $100m in backing from a host of A-list investors, including Leonardo DiCarprio and groups led by Robert Downey Jr and Amazon founder Jeff Bezos.
Wildtype, which claims its cultivated salmon is free of mercury, antibiotics, and other contaminants, said its latest funding round yesterday marked the largest ever for a cell-grown seafood company, bringing total investment raised to date by the company to $120m.
The funding injection will allow Wildtype to expand production capacity as it prepares to launch its cultivated salmon to the US market, according to the firm’s co-founder and CEO Justin Kolbeck.
“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,” he said. “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-calibre group of investors will help us achieve this.”
The production process involves isolating cells from salmon found along the northern Pacific coast which are then grown in cultivators “similar to those found in breweries”, according to the firm, which claims the process provides a renewable and sustainable source of seafood.
By scaling up its production systems, the firm has also promised to bring “an unprecedented level of transparency and traceability to the salmon supply chain”.
Having worked on improving the taste and texture of the product, Wildtype opened its first pilot production plant last year in San Francisco and has since sought to recruit culinary partners with a view to bringing its sushi-grade salmon product to market via its “soon-to-be-announced” restaurant clients.
Hollywood actor and environmentalist DiCaprio said Wildtype held the potential to “transform our food system with its incredible salmon”.
“Wild fish populations are threatened more than ever before,” he said. “Wildtype is the clear leader in cultivated seafood, which will give us the chance to protect our oceans while creating the cleanest seafood on the planet.”
Other investors unveiled as backers in the latest funding round, include Bezos Expeditions, Downey Jr’s FootPrint Coalition, and global food and agriculture giant Cargill, as well as a raft of prominent chefs and professional athletes. The funding round was led by private equity firm L Catterton and Temasek, S2G Ventures Oceans, Seafood Fund, Spark Capital, and CRV were also named as backers.
“As consumers continue to look for more sustainable seafood options, Wildtype is a brand that stands alone due to its technology and product quality,” said Jon Owsley, a managing partner in L Catterton’s Growth Fund. “We are on the cusp of a consumer revolution around cultivated proteins, and Wildtype is well-positioned to play a leading role in this transformation, starting with salmon.”
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