Big Idea Ventures, an early-stage investor in the alternative protein sector, has announced its latest accelerator cohort, which includes a number of new seafood-focused enterprises.
In total, 17 early-stage start-ups were selected for pre-seed investment as part of Big Idea Ventures’ bi-annual new protein accelerator programme. Investments were made through the firm’s three offices in New York, Paris and Singapore and the firm’s first fund – New Protein Fund I ($50M+ AUM).
“The 17 companies in our latest cohort are all working to solve key challenges in the alternative protein industry today. From new extraction and fermentation methods to AI-enabled micro fluids, connected bioreactors, and cell-based fats, these companies offer compelling solutions to scale production, cut costs and improve both the nutrition and taste profiles of alternative protein products,” said Andrew D. Ive, Founder and Managing General Partner of Big Idea Ventures.
“I encourage investors, corporate leaders, and partners to reach out to the founders of the companies that most excite them and find out more about the innovative technologies and applications they are developing.”
Within its Singapore Accelerator, ImpacFat specialises in the production of cultivated fat to enhance the flavour, texture, aroma and nutrition of alternative protein products.
According to Big Idea Ventures, this is the first company with a focus on fish cell-based fat.
The team has filed IP for their technology and currently works on scale-up manufacturing and optimisation of the taste and nutritional values of novel foods.
Another start-up – Sono Biosciences – is a life science company developing the next generation fish cell culture media that are free of animal derived growth factors, as well as fish cell lines that are immortal and traceable.
It hopes to reduce the cost of producing lab cultured fish by genetically modifying cell lines using CRISPR and bringing the serum-free cell culture technology used in the pharmaceutical industry to producing cultured fish.
Big Idea Ventures’ Paris Accelerator includes Esencia Foods, which is Europe’s first company building fish and seafood alternatives based on mushroom mycelium, using solid state fermentation.
The accelerator also features Loki Foods, which specialises in using 100% renewable energy to produce plant-based alternative-seafood products in Iceland. It will launch plant-based white fish (analogue of Atlantic cod) in 2023, as well as a line of seafood products to replace conventional seafoods.
Food Squared, meanwhile, is a UK plant-based company that formulates whole cut fish alternatives using 3D printing.
“With our 6th cohort, it is inspiring that we continue to see a strong trend of advanced technical achievements with start-ups that are IP driven,” said Henrietta Hearth, Vice President at Big Idea Ventures.
“We have also seen more and more companies focusing on alternative seafood as consumers start to understand the environmental impacts of fish consumption.”
