Norwegian ocean impact fund manager Katapult Ocean has invested in Atlantic Fish Co., an American North Carolina start-up developing cell-cultivated seafood. The term refers to seafood produced by growing muscle tissue directly from fish cells, without using whole fish. According to Atlantic Fish Company, the approach aims to replicate the texture and quality of restaurant-grade fillets while reducing pressure on wild fish stocks.
The investment forms part of a USD 1.2 million seed round that Atlantic Fish Co. says will support the development of its first cultivated whitefish products. The round also included Alwyn Capital, DMV Capital and the Georgetown Angel Investment Network, bringing the company’s total funding to USD 2.3 million when combined with a Small Business Innovation Research grant from the US National Science Foundation.
Atlantic Fish Co. said global fish stocks are under strain, noting that 90 percent of stocks are harvested at maximum capacity or are overfished. Its platform grows muscle tissue from fish cells and is initially targeting high-value sea bass. The new funding will support further work on texture, flavour and nutritional performance, and preparations for discussions with the US Food and Drug Administration, along with pilot collaborations with chefs and foodservice operators.
Atlantic Fish Co. CEO Doug Grant said the cultivated meat sector had “learned expensive lessons” and that the company has focused its resources on seafood, which he described as the category best positioned for commercial success.
“This US$1.2M enables us to finalise our go-to-market product and secure the regulatory greenlights to launch in the US,” he said.
Katapult Ocean investment manager Sam Selig said the Atlantic Fish team had “consistently hit technical milestones” over the past two years, advancing what the Norwegian fund believes could be “breakthrough technology in cultivated protein.” He said supporting the company’s early commercialisation aligns with Katapult Ocean’s mission to back sustainable blue-food innovation.
The investment comes as Katapult Ocean expands its activities in Asia. The Norwegian venture has recently established an office in Singapore and, together with OCTAVE Capital, launched the Asia Ocean Fund aimed at accelerating early-stage ocean-related innovation across the region.
Katapult Ocean describes itself as the world’s most active ocean impact venture fund manager, investing in companies focused on restoring ocean health, addressing climate and biodiversity loss, and ensuring access to sustainable food and clean water.
Source: We Are Aquaculture
