Silicon Valley’s faith in cellular salmon grows as Wild Type gets USD 12.5 million investment, as well as the support from top venture capitalist.
The San Francisco-based company, Wild Type known for growing “clean meat” salmon from cells, posted on Medium that they have secured a multimillion-dollar investment to bring their product to market.
“The $12.5 million round included participation from Maven Ventures and renewed support from our seed investors including Spark Capital and Root Ventures,” it wrote. A seed round of USD 3.5 million was raised in May.
In June, SalmonBusiness reported how the company and founders Justin Kolbeck and Arye Elfenbein produced a pound of lab-grown salmon to make the world’s first sushi created with cellular agriculture technology. The “cellular” salmon rolls cost USD 200 each but the company hopes to eventually produce full slabs of lab-grown salmon at a competitive retail cost of USD7 to USD8 per pound.
— George Zachary (@georgezachary) October 8, 2019
George Zachary has now been added to Wild Type’s board of directors. Currently heading CRV’s Deep Insight Bioengineering program, Zachary was an early-stage investor in Twitter. He was also invested in enterprise social networking app Yammer three years before Microsoft acquired it for USD 1.2 billion.