Bluu Seafood, a German biotech startup that aims to produce sustainable and high-quality seafood products through cellular agriculture, plans to introduce lab-grown seafood in Singapore by 2024. By producing fish-grown cells in a laboratory, growing demand for seafood can be met while innovatively eliminating the need for traditional fishing or aquaculture methods. Their expansion into Singapore aligns with the country’s efforts to promote sustainable food production and reduce reliance on imports, with Singapore’s supportive regulatory environment and strong infrastructure making it an ideal market for the cultivated seafood industry.
Previously, the startup obtained approval from regulators for the sale of cultivated chicken in 2020, and expects to obtain regulatory approval for its cultivated fish by 2024. They are also researching hybrid products, such as fishballs and fish fingers manufactured from cultivated fish cells. The completed construction of their new pilot production plant this year will allow them to begin scaling-up production. So far, the startup has raised EUR 23 million (USD 25.3 million) since its founding in 2020, with investors including SeaX Ventures, Manta Ray Ventures, Norrsken VC, Delivery Hero Ventures, Innovationsstarter Fonds Hamburg and Dr Oetker. Its most recent funding round, led by Sparkfood and LBBW Venture Capitalist, raised EUR 16 million (USD 17.6 million). With these funds, Bluu Seafood will continue focusing on obtaining approval for its products, enhancing research projects, and initiating pilot production.
(Sources: Vegconomist; The Business Times)