Finless Foods Gains Funding
The firm uses fish cells to create lab-grown seafood in Emeryville.
Image: Anneli Star Josselin Rufus
Finless Foods, a biotechnology company that creates lab-grown seafood in Emeryville, has just announced a funding milestone.
The company raised a $3.5 million in a recent seed round led by Draper Associates, Finless Foods' CEO Mike Selden revealed on Medium.
“As a year-old company founded by two biochemists with a history of environmental activism and agricultural research, we are honored to gain the support from large names like Draper and more to bring resources to bear on this important technology at such an early stage,” Selden wrote.
"We’ve already come a long way since ... we created the world’s first clean fish cakes to ever be eaten," he wrote.
Using actual fish cells to produce in-vitro flesh, Finless Foods is part of a growing movement aiming to create meat sustainably and painlessly.
Previous investment efforts have secured investment from Norwegian aquaculture accelerator Hatch and from the sustainability-based Italian company Hi-Food.
"We’ve already dramatically lowered cost and secured precious cellular material that will push us into rapid commercialization within years, not decades," Selden added.
The new Emeryville facility "is providing us a solid and state-of-the-art base, giving us the room to grow in the coming years," he wrote.