Cell-based salmon start-up Wildtype has confirmed that it has raised US$100 million in its latest funding round, with investments coming from actor and environmentalist Leonardo DiCaprio, Bezos Expeditions, S2G Ventures Oceans and Seafood Fund, Robert Downey Jr.’s FootPrint Coalition, Cargill, as well as prominent chefs, athletes and artists from around the world.
Private equity firm L Catterton led the funding round, while existing investors, including Spark Capital, CRV, Maven, AiiM and Root Ventures also continued their support for the venture with Series B investments.
San Francisco, California-based Wildtype is creating its sushi-grade cell-cultivated salmon for fine dining restaurants and stores.
The company was founded in 2016 by Justin Kolbeck (a former diplomat) and Aryé Elfenbein (a practicing cardiologist). Last year, it opened a pilot production plant in San Francisco, with its salmon – created from the living cells of Pacific salmon – grown in cultivators similar to those used in breweries.
In a statement, Wildtype said the new funding will not only give it the opportunity to continue improving its salmon and create the foundation for future products, it will also enable it to build a larger production facility and take its products to more outlets after it has completed its US Food & Drug Administration (FDA) safety consultation.
“It also allows us to invest in technologies that will improve production and lower the cost to our customers,” Wildtype said.
Commenting on his investment, DiCaprio said, “Wild fish populations are threatened more than ever before. Wildtype is the clear leader in cultivated seafood, which will give us the chance to protect our oceans while creating the cleanest seafood on the planet. Wildtype will surely transform our food system with its incredible salmon.”
Fellow Wildtype investor Jon Owsley, Managing Partner of L Catterton commented, “As consumers continue to look for more sustainable seafood options, Wildtype is a brand that stands alone due to its technology and product quality. We are on the cusp of a consumer revolution around cultivated proteins, and Wildtype is well-positioned to play a leading role in this transformation, starting with salmon.”
Wildtype has also confirmed that L Catterton’s Alice Raskin and scientist Dr Berta Strulovici have joined its board of directors.
