Finless Foods, an Emeryville, CA-based cell-cultured seafood company, raised $34M in Series B funding.
The round, which brings the total raised to nearly $48M since 2017, was led by Hanwha Solutions, with participation from Dainichi Corp, At One Ventures, Olive Tree Capital, Justin Kan, Humboldt, Gaingels, Draper Associates, Sustainable Ocean Alliance and SOSV.
The company intends to use the funds to:
- Launch plant-based tuna nationally into foodservice in the U.S., explore international distribution in Asia and expand its plant-based seafood portfolio;
- Expand the team, deepening the technical research and development staff and further building out the business capabilities;
- Gain regulatory approval for its cell-cultured bluefin tuna, enabling it to be sold and consumed;
- Lead the industry in reducing the price of cell-cultured bluefin tuna to reach price parity with its conventional equivalent.
Led by Michael Selden, CEO, and Brian Wyrwas, Finless Foods provides consumers with a range of responsibly produced cell-cultured and plant-based seafood products to diversify their daily habits and pave the way toward a more sustainable future and healthier ocean.