of San Francisco Militant typeWhich is an incredible raise $100 million in Series B last year from investors including Leonardo DiCaprio, it said It hopes to introduce its farmed sushi-grade salmon to restaurants later this year
Wildtype co-founder Justin Colbeck told IntraFish that the company is waiting for the FDA to complete a pre-market consultation that studies the safety of its farmed salmon, and once the process is complete, Wildtype will be able to commercialize it.
If the company gets the FDA’s green light, WildType will become the first to launch a commercially grown food in the United States.
What is the meaning of any question paper?
According to Kolbeck, UPSIDE Foods, which received a question-and-answer letter from the FDA last year for its farmed chicken, had to complete a similar pre-market consultation.
If the FDA greenlights the wildtype—which is not an approval process but a safety agreement—the company must secure the remaining approvals before commercialization.
Wildtype has a pilot facility capable of producing more than 200,000 pounds of farmed seafood annually, where it grows its sushi-grade salmon. The startup has hosted several tastings for its fish over the past few years with professional chefs testifying to the quality of the product. The company has also secured retail and restaurant partnerships with US restaurant chains ahead of FDA approval and commercial launch..
Famous investor of Wildtype
Last year’s recorderies B round was the largest amount ever raised by a farmed seafood company and was backed by investors including Bezos Expeditions, Temasek, Cargill and several notable chefs and athletes.
Wildtype farmed salmon have also attracted foreign capital; By November, SK Inc, The investment arm of SK Group, South Korea’s third largest conglomerate, has announced a $7 million investment in alt seafood company.
“Whether you’re looking for mercury- and microplastic-free seafood options or trying to eat more sustainably, we want wildtype seafood to be accessible to as many people as possible. The passionate support of our group of high-powered investors will help us achieve this,” said Colbeck about the Series B funding. commented