Aqua Cultured Foods raises $2.1m in pre-seed round to build ‘whole cut’ alt seafood operation

27-Oct-2021 - Last updated on 03-Jan-2024 at 11:53 GMT

Aqua Cultured Foods is developing a Non-GMO fermentation-based production platform capable of delivering high-protein ‘whole cuts’ of fungi-based seafood. Pic credit: Aqua Cultured Food

Related tags seafood alternatives

Chicago-based startup Aqua Cultured Foods – which is carving out new territory in the seafood alternatives space with a Non-GMO fermentation-based production platform capable of delivering high-protein ‘whole cuts’ of fungi-based seafood - has closed an oversubscribed pre-seed funding round of $2.1m.

The funding - from investors including Supply Change Capital, Aera VC, Sustainable Food Ventures, Hanfield Venture Partners, Lifely VC, Conscience VC, Kingfisher Capital, Hyde Park Angels, Gonzalo Ramirez Martiarena, and Big Idea Ventures – will help the firm test market its wares on a small scale next year.

Aqua Cultured Foods – which is developing everything from filets of tuna and whitefish to popcorn shrimp, calamari, and scallop alternatives – is targeting foodservice and retail markets, including the fresh refrigerated set for grocery, said founder Anne Palermo, who will explain how her technology works today in FoodNavigator-USA’s ‘Where next for seafood alternatives?’ webinar.

Unlike synthetic biology companies genetically engineering microbes to express target proteins or other compounds, Aqua Cultured Foods has identified a strain of fungi that naturally grows into a fibrous biomass that can be harvested in its entirety as a Non-GMO, whole food ingredient.

Per serving, Aqua products will contain 18-20g protein, 10-12g fiber and no sodium, saturated fat or cholesterol, a range of B vitamins including B12 - and added omega-3s. (In comparison, a serving of cod contains 18g protein, 0.7g fat, nearly 43 mg cholesterol, 54 mg sodium, 0.19 grams of omega-3s, and no fiber).

Interested in seafood alternatives?

Aqua Cultured Foods will be joining us today (Wednesday Oct 27) at 10am PT/1pm ET in part three of FoodNavigator-USA’s broadcast series: Disrupting the meat and dairy case: From plant-based bacon to ‘real’ cheese (minus the cows)

The session begins with a fireside chat with Marika Azoff at the Good Food Institute.

This will be followed by a panel debate exploring everything from formulation to consumer insights, merchandising, nutrition, and processing capacity challenges, featuring:

David Benzaquen, co-founder Ocean Hugger, founder and managing director, Mission: Plant LLC
Chad Sarno, co-founder and chief culinary officer, Good Catch
Michelle Wolf, co-founder and CEO, New Wave Foods
Anne Palermo, Co-founder and CEO, Aqua Cultured Foods

Oct 13: Where next for meat alternatives? From plant-based burgers to fungi-fueled bacon. WATCH ON DEMAND! if you register here, click on the grey 'on demand' tab, then 'login' to the session).
Oct 20: Where next for dairy alternatives? From oatmilk to ‘real’ cheese (minus the cows). WATCH ON DEMAND! if you register here, click on the grey 'on demand' tab, then 'login' to the session).
Oct 27: Where next for seafood alternatives? From tuna to shrimp - featuring the Good Food Institute, Good Catch, Ocean Hugger, New Wave Foods and Aqua Cultured Foods. Register here!