Berlin-based start-up Bluu Seafood, formerly known as Bluu Biosciences, has developed a stem cell technology that allows for the production of lab-grown fish in a bioreactor. The company recently unveiled its first fish alternative products, including fish balls and fish sticks, made from cultivated fish cells that contain additional plant-based proteins. According to Bluu Seafood, the cooking process, texture, and taste of the lab-grown fish are comparable to that of real fish. The start-up plans to launch its products in Singapore, the first country to approve the sale of lab-grown meat, by 2024. The US market is also on the company’s radar, with the Food Safety and Inspection Service and the Food and Drug Administration recently approving the sale of lab-grown meat from other companies.
The market for lab-grown meat is significant in Germany, with a recent study by the University of Osnabrück showing that more than half of Germans would try a burger made from in-vitro meat. Bluu Seafood has raised a total of €23 million in funding since its founding three years ago, with its latest funding round of €16 million bringing the company closer to its goal of international expansion. Delivery Hero, Sea X Ventures, Manta Ray Ventures, Norrsken VC, the Hamburg Investment and Development Bank, and Dr. Oetker are among the investors in the current funding round.
Bluu Seafood’s decision to launch its products in Singapore is likely due to the country’s early approval of lab-grown meat sales. Good-Meat’s chicken nuggets have been available in Singapore since the end of 2022. With its significant capital raise, Bluu Seafood is well-positioned to achieve its growth goals and expand its presence internationally.
