Forsea Foods attracts $5.2M to expand cultivated seafood

Startup pioneers organoid technology to make nature identical, cultured eel meat at cost parity

Forsea Foods, an Israel-based foodtech startup, is the first company to use organoid technology for culturing seafood products. With a goal of redressing the destruction of marine life due to overfishing, Forsea embarked on a mission to cultivate seafood, initially eel meat, without harming sea life. The eel has become an endangered species, while the demand for its meat keeps increasing in markets such as Europe and Asia.

Toward this effort, Forsea has raised $5.2 million in a seed round led by Berlin-based Target Global. Also invested in the round were The Kitchen FoodTech Hub; PeakBridge VC; Zora Ventures; FoodHack, and Milk & Honey Ventures. The new funding will initially go towards growing cultivated eel meat, high in demand for kabayaki and sushi. Target Global’s contribution to this round marks one of its first investments in the foodtech industry.

Forsea will inaugurate its pilot plant during 2023. The plant will allow the company to create a preliminary design for a large-scale alpha production system, and to launch the company’s first products. The startup will invest the newly raised capital to accelerate R&D for both growing eel meat and developing the process for other fish species. Forsea also will improve and expand its core technology to enable organoid growth in large-scale bioreactors, while developing methods to increase production yield and profitability at a lower cost. These include perfecting a continuous feeding strategy and nutritional support. Recently Forsea expanded its R&D team and activities to Rehovot, in the heart of Israel’s FoodTech valley.

Image credit- prnewswire

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