Finless Foods – one of a new wave of start-ups in the rapidly heating-up cultured fish arena – has raised $3.5m in a seed round that cofounder and CEO Mike Selden says will “bring us to the end of our initial R&D phase, meaning we’ll have the tools necessary to move into production pending the closing of a Series A.”
In a post on medium, Selden said the round – led by Silicon Valley-based VC rm Draper Associates – had been completed….
“The opportunity this money gives us to perfect our science and create delicious, safe, and healthy food is genuinely exciting to our entire team. We’ve already dramatically lowered cost and secured precious cellular material that will push us into rapid commercialization within years, not decades.”
As for the GMO factor, he said: “We’re not GMO [according to the ‘bioengineered’ definition enshrined in the federal GMO labeling legislation – not yet in force GMO]; we use genetic engineering in the creation of the growth factors used in our growth medium, but the proteins are not present in the final product.”
Read full, original article: Cultured fish co Finless Foods raises $3.5m, predicts “rapid commercialization within years, not decades”