Food Tech Funding Round

Wanda Fish Secures $7M in Seed Funding to Advance Cultivated Bluefin Tuna Production

Key Takeaways

  1. Wanda Fish Technologies has raised $7 million in seed funding from Netherlands-based Aqua-Spark.
  2. The funding aims to accelerate the production of cultivated bluefin tuna filets that replicate the texture, flavor, and nutritional value of wild-caught bluefin tuna.
  3. The cultivated bluefin tuna is free from common ocean pollutants like mercury and adheres to non-GMO standards.
  4. Overfishing has pushed bluefin tuna to the brink of endangerment, intensifying the need for sustainable alternatives.
  5. Wanda Fish’s proprietary technique allows precise control of fat levels, enabling a diverse range of filet cuts, including the premium Toro cut.

Wanda Fish Technologies, an Israel-based FoodTech startup, announced on October 9, 2023, that it has secured $7 million in seed funding. The investment round was led by Aqua-Spark, a global aquaculture investment fund based in the Netherlands. Additional investors include The Kitchen Hub, Peregrine Ventures, PICO Venture Partners, MOREVC, and CPT Capital. This brings Wanda Fish’s total funding to $10 million since its inception in 2021.

The Mission

Founded by The Kitchen Hub and Daphna Heffetz, a leading figure in biotechnology-based innovation, Wanda Fish aims to produce premium quality, cultivated fish outside the ocean. The new capital will accelerate the creation and scaling of cultivated whole-cut filets of bluefin tuna. These filets are designed to replicate the texture, flavor, and nutritional value of wild-caught bluefin tuna, including essential nutrients like omega-3 fatty acids.

The Technology

Wanda Fish’s cultivated bluefin tuna is produced under non-GMO standards and is free from common ocean pollutants like mercury. The company has developed a proprietary technique allowing precise control over fat levels in the end products. This enables the creation of a diverse range of filet cuts, including the highly sought-after Toro premium cut.

The Need for Sustainable Alternatives

Bluefin tuna is a sought-after species, particularly popular in high-end sushi restaurants. However, overfishing has pushed the species to the brink of endangerment, and traditional farming methods are considered unsustainable. This has intensified the need for sustainable alternatives like the one the company is developing.

Industry Reactions

Lissy Smit, CEO of Aqua-Spark, expressed confidence in Wanda Fish’s ability to alleviate the burden of overfishing, especially for species like bluefin tuna that are unsustainable to farm. Jonathan Berger, CEO of The Kitchen FoodTech Hub, also praised Wanda Fish’s rapid progress since its inception less than two years ago.

Future Prospects

With this new funding, Wanda Fish is well-positioned to make significant strides in providing a sustainable, cruelty-free, and ocean-friendly alternative to bluefin tuna, contributing to a more sustainable future for ocean seafood.

Image provided by Wanda Fish

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