KBW Ventures, the venture capital fund founded by Prince Khaled bin Alwaleed bin Talal Al Saud has invested in US-based innovative food company BlueNalu. The $20 million Series A round was led by Stray Dog Capital, CPT Capital, New Crop Capital, and Clear Current Capital.
Established in 2018 with a vision to promote ocean sustainability, the company has been on a mission to use fish cells to produce various seafood products. With the latest funding, the company will be able to develop a pilot production facility in San Diego, expand its team and scale up on a global level.
“BlueNalu has made considerable progress toward bringing cell-based seafood products to the world,” said Lou Cooperhouse, president and chief executive officer at BlueNalu.
This is the fourth cellular agriculture startup that KBW Ventures has invested in, including Singapore’s TurtleTree Labs, clean meat company Memphis Meats and clean meat pet-food focused Bond Pet Foods.