BlueNalu raises $20m and announces

Key Facts:

Deep Dive:

It seems that 2020 will be a very good year for cell-based startups as major deals continue to be announced. Let’s hope that this is not a bitcoin or cannabis effect and that we will see real-world products derived from these startups in the next couple of years.

BlueNalu will use the funding to expand its team and grow its production. As many other cell-based startups (fish or meat), it targets the end of 2021 to make its first product (probably yellowtail) available.

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It is also interesting to see more and more corporates betting on lab-grown startups. Here the deal between BlueNalu and Nutreco could mean:

  • In the short term: the startup will benefit from the procurement capabilities and expertise of the corporate
  • In the long term: the corporate buys itself insurance against a future where conventional fish demand declines

This kind of short+long term deal is in principle interesting for both sides and are multiplying in the clean meat business. Time will tell us how they develop.

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