BlueNalu Secures $20 Million in Series A Financing
The financing will enable BlueNalu to develop a production facility, implement strategic alliances for global operations and distribution, and prepare for market launch
BlueNalu, an innovative food company producing seafood directly from fish cells, announced the successful completion of its $20 million Series A round of funding. This financing will enable BlueNalu to develop a good manufacturing practices (GMP) pilot production facility in San Diego, expand its world-class team, implement strategic alliances for global operations and distribution, and prepare for its market launch.
The Series A round is co-led by Stray Dog Capital, CPT Capital, New Crop Capital, and Clear Current Capital, each of which participated in BlueNalu’s seed round. BlueNalu secured $4.5 million in 2018 and has attracted investors from 11 nations to date demonstrating global interest in the disruptive potential for the company. These investors originate from Brazil, Hong Kong, Israel, Japan, Luxembourg, Netherlands, Saudi Arabia, South Korea, Sweden, United Kingdom and the United States.
BlueNalu’s A round attracted a significant number of strategic investors that provide a broad range of expertise and infrastructure in supply chain, operations, sales, marketing and distribution. The strategic investors include global supply chain leaders that will provide guidance and raw material expertise to BlueNalu. These include Nutreco, a global leader in animal nutrition and aquafeed, and Griffith Foods, a global product development partner to the food industry, with expertise in market insights, food science, culinary and sensory optimization. Strategic investors also include organizations with expertise in operations, sales, and distribution, including: Pulmuone, a leader in healthy lifestyle and sustainable food products with distribution in Asia and North America; Sumitomo Corporation of Americas, a global investor and supplier of goods and services, including foods; Rich Products Ventures, the Corporate Venture arm of Rich Products Corporation, a leading multinational supplier of icings, cakes, pizza, desserts, appetizers and various bakery products, and which has a growing line of brands in the value-added seafood category.
New investors to this round include KBW Ventures, led by His Royal Highness Prince Khaled bin Alwaleed bin Talal Al Saud. KBW Ventures supports innovative companies like BlueNalu that have tremendous potential for growth, and can sustainably feed the world.
Investors to date include: Agronomics Ltd; AiiM Partners LP; Alwyn Capital LLC; Baleine & Bjorn Capital; Beyond Impact Vegan Partners, LLP; Cibus Enterprise Fund, LP; Clear Current Capital; CPT Capital; EverHope Capital; Greenwich Estates; Griffith Foods Worldwide; ImpactAssets Inc.; JVP International Management; Marstar Investments, LLC; MCS, Ltd; MLC50 LP; New Crop Capital Trust; Nutreco Investments BV; OurCrowd, LP; Pulmuone USA; PWR Capital; Rich Product Ventures, LLC; SIF Angelist, LLC; Stray Dog Capital; Sumitomo Corporation of Americas (Presidio Ventures), Sustainable Foodies; Tech Coast Angels - San Diego; and VegInvest Trust. The Berry Family Trust, and a number of additional investors and trusts, have also participated in company financings. Additional investors also include celebrity chef Roy Yamaguchi, and award-winning record producer Axel Hedfors of music supergroup Swedish House Mafia.