Cultured Decadence, a Madison, Wis.-based cellular agriculture company, closed its $1.6M pre-seed financing.
Backers included Bluestein Ventures, Joyance Partners, Revolution’s Rise of the Rest Seed Fund, gener8tor, GlassWall Syndicate, Bascom Ventures, and China-based Dao Foods.
The company, which also received non-dilutive funding from the Wisconsin Economic Development Corporation administered by the Center for Technology Commercialization (CTC), will use the funds to expand its team and continue development of cell-cultured lobster meat prototypes in preparation for a commercial launch.
Led by John Pattison, CEO, and Ian Johnson, CSO, Cultured Decadence makes sustainable seafood products that have a lower environmental impact and higher nutritional quality through the cells of shellfish without the shell or organs. The company’s technology can be applied broadly to the $160 billion market for seafood including lobster, crab, shrimp, and scallops.