German startup Bluu Seafood aims to launch cultivated seafood in Singapore in 2024

GERMAN food biotechnology startup Bluu Seafood is looking to launch its cultivated seafood products in Singapore come 2024.

The startup, which produces fish grown from cells in a laboratory, has raised 16 million euros (S$23.6 million) in Series A funding for the endeavour. This brings the total amount raised to 23 million euros since the company’s founding in 2020.

The funding round was led by Sparkfood, a subsidiary of Sonae and an operator of food companies across Europe, as well as venture capital firm LBBW Venture Capital.

Other investors include Asian investor SeaX Ventures, Manta Ray Ventures, Norrsken VC, Delivery Hero Ventures, Innovationsstarter Fonds Hamburg and Dr Oetker.

With the funds, Bluu Seafood will focus on obtaining regulatory approval of its products, enhancing its research work, and initiating pilot production. Its first focus area is in hybrid products such as fishballs and fish fingers developed from cultivated fish cells.

The company said it expects to obtain regulatory approval for its cultivated fish by 2024. The sale of cultivated chicken received approval from regulators in 2020.

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It is in the process of opening its pilot production plant, which is expected to complete construction this year. The plant will allow the startup to scale up production.