Atlantic Fish Co, a startup based in North Carolina, has raised USD 1.2 million (EUR 1.04 million) in new funding to continue work on its cell-cultivated whitefish.
The company raised the funds as part of a seed financing round with participation from Katapult Ocean, Alwyn Capital, DMV Capital, the Georgetown Angel Investment Network, and other investors. The company said that with the new fundraising, its total fundraising to date is USD 2.3 million (EUR 2 million).
Atlantic Fish Co said the new funding will help the company work on multiple projects, including product optimization and regulatory preparation. The U.S. Food and Drug Administration approved the first cell-cultured animal protein product for human consumption in 2022, and recently greenlit Wildtype’s cell-cultured salmon after a three-year process.
Atlantic Fish Co said it has successfully demonstrated its technology with a number of both land-based and seafood proteins, but wants to target high-value whitefish first starting with black sea bass.
"The cultivated meat sector has learned expensive lessons, and there are still only a handful of products on the market," Atlantic Fish Co CEO Doug Grant said in a release. "We've stayed capital-efficient with disciplined milestones and focused on seafood, the category best positioned to break through. This USD 1.2 million enables us to finalize our go-to-market product and secure the regulatory greenlights to launch in the U.S.”
Atlantic Fish Co said it is still building toward regulatory submissions, and is planning to launch its project in a collaboration with chefs and foodservice partners.
“Supporting the initial commercialization of their sustainable white fish filet – and their broader vision to expand across proteins – aligns perfectly with our mission to back ocean- and health-friendly blue foods with meaningful market opportunity and impact,” Katapult Ocean Investment Manager Sam Selig said.
