ARK Invest, a venture capital firm that invests in food technology startups, noted that 2023 is the year when alternative seafood startups will make notable strides. The investors expect 40 investments to be made in this sector this year, up from 36 in 2022.
One possible reason that alternative seafood products have been receiving hefty investment recently is due to the increasing demand for sustainable, less-caught seafood. In light of the devastating marine plastic pollution crisis, people are increasingly looking for ways to eat seafood responsibly. By investing in startups producing alternatives to traditional seafood products, venture capitalists are helping to meet this demand while also promoting environmentalism and responsible consumption.
CEO and co-founder Will Allen believes that Aqua Cultured Foods’ cultured seafood alternatives will help to revolutionize the seafood market, making it more sustainable and less polluting. By creating products from scratch rather than fishing for wild seafood, Aqua Cultured Foods is seeking to shift the industry away from its traditional reliance on unsustainable practices. The company’s first product, Aquaculture XTRA+, is a premium cultured salmon that boasts both a lower environmental impact and taste compared to traditional salmon farming methods.
Anne Palermo is hoping that her company’s new supplements will help to improve the quality of people’s lives. She’s been instrumental in creating these supplements, and knows that they can have a profound impact on people’s overall wellbeing. Her team is passionate about their work, and they are constantly exploring ways to make their products even better.
The shrimpy shrimp dumpling was a delicate creation that was filled with seasoned shrimp, a wrapper made from farro and olive oil, and boiled in water before being baked in the oven. The result was a unique dumpling that had
Despite having a successful health snack company, Karen struggled with a lack of time to pursue her own passions outside of her business. After realizing that she needed to change her lifestyle in order to be more productive and balance her work and personal life, Karen decided to start another health snack company that used components from animal proteins instead of protein isolates. This new venture allowed Karen the opportunity to focus on what she loved most – innovating new products and creating positive Impact in the world.
Alternative proteins have become increasingly popular in recent years, partially because they are healthful and contain less sugar. One such alternative protein is plant-based protein. Palermo found this out through her work on a product specific to this market segment. It was during the development of that product that she became interested in alternative proteins as a whole and began to explore their benefits more fully.
Some people believe that the rise in popularity of seafood as a food source is due to its instability and versatility. For example, seafood can be eaten as is or turned into dishes like sushi or ceviche, which are not only delicious but also pack a lot of flavor. Another reason why seafood has become so popular may be due to its high caloric content – per ounce, it’s almost twice as caloric as beef.
Palermo’s company, Jellyfish Innovations, has developed a new type of seafood product called “Jellyfishwich.” The sandwich is made of jellyfish tentacles served on a bun with mayonnaise and sour cream. The product is sustainable and affordable, and its commercial scale can help to replenish fish stocks.
Aqua Cultured Foods has created a variety of whole-muscle seafood alternatives that are perfect for those looking for a healthier and more sustainable meal. Their minced seafood fillings are also great options for applications like dumplings, ravioli and sushi rolls.
Aside from its stunning visual appearance, tuna sushi has many other benefits that make it a cherished food item. It is high in protein and omega-3 fatty acids, two nutrients that can help improve heart health and reduce chronic conditions such as anxiety and depression. Additionally, the Environmental Working Group (EWG) says that seafoods low in mercury are best for human health because they have lower levels of toxin exposure. In marine ecosystems where tuna are hunted extensively, this type of selective fishing creates significant depletion of stocks and can also lead to environmental destruction. Fortunately, sustainable fisheries methods like troll fishing or bycatch reduction minimize the negative impacts of tuna hunting on the oceans while still providing these nutritious fish for people to enjoy
The Palermo Family Restaurant is known for its seafood, but it has debuted a new menu item: mycoprotein-free seafood. This new menu option uses fungi fermentation to produce food that does not include any animal inputs, genetic alteration or modification. The company says this process yields food with a lower price point to narrow the gap in price parity with traditional seafood.
The fast-paced and innovative nature of Aqua Ventures has caught the attention of many in the food industry, who are eager to see what this upstart company will come up with next. Founder, CEO and product architect, Palermo believes that their novel production methods and technologies – which were developed over thousands of years – present less regulatory hurdles than those faced by other technology startups. This allows Aqua to have a much more accelerated market entry than many similar technology companies. So far, their tastings have been well-received by industry commentators impressed with both the ingenuity of Aqua’s products and Palermo’s passionate promotion thereof.
Aqua is a food delivery service that just raised a $8 million round of venture capital. The company was founded by Palermo, who previously developed the popular restaurant rating app OpenTable. Aqua’s new investors include Stray Dog Capital, H Ventures, Aztec Capital Management and Amplifica Capital. Together, they bring more than 60 years of experience in the food industry to Aqua’s table. Additionally, CJ CheilJedang invested in Aquas as part of its strategic investment portfolio – signaling the increasing importance of Asian cuisine in North America. With this round of funding under its belt, Aqua plans on expanding its reach throughout North America and developing innovative new products that will excite customers alike.
In a move that marks the beginning of a new chapter for Aqua, the food company has raised $16 million in Series B funding. The investment will allow Aqua to begin manufacturing its first products by early summer, including tuna, scallops and ground shrimp. This capital will also allow Aqua to expand its educational programs and grow its nationally network of retailers. Brittany Chibe, Aqua’s co-founder and chief growth officer, stated “This money will help us take our vision for seafood innovation further and bring our products to market sooner than we ever could have hoped.”
According to the company, Aqua will allow Palermo to produce a high volume of product at a lower cost than its previous methods. With this increased efficiency, the food-grade facility in Chicago is expected to help propel Palermo forward as one of the leading cannabis brands in North America.
Palermo is adamant that the company’s products can scale because they are manufactured on a decentralized basis. This could be huge for the company as it opens up new markets and avoids costly shipping expenses.
Aqua said it plans to use the investment in hiring additional employees and expanding its roster of restaurant and foodservice outlets for product introductions this year. The company also stated it expects growth in its sales due to increasing consumer demand for healthier, sustainable foods. Aqua believes this strategy will help the company continue gaining market share.
The announcement of Chibe’s imminent arrival onto the kitchen scene has chefs excited. The company sees a path to quickly reach commercial scale, and will respond to inbound interest from chefs with some initial pop-up shops to see how it goes. Whether Chibe succeeds or not, the rapidly changing industry of food delivery is sure to be affected in some way.
Presently, the restaurant’s produce is sourced seasonally and purchased in bulk. This system may not be sustainable in the long-term due to fluctuations in demand and potential Overspending. The future of demand forecasting could hinge on developing a system that can assess consumer behaviors with more accuracy, thereby enabling restaurants to anticipate what items will sell best at specific times of the year.
