BlueNalu raises US$11M to advance cultivated bluefin tuna commercial plans
Company continues regulatory engagement in the US and overseas markets
USA – Californian cultivated seafood company BlueNalu has raised about US$11 million in fresh financing as it works toward launching cell-cultured bluefin tuna toro in the United States sushi and fine-dining market.
The San Diego-based startup said the funding was secured through a mix of convertible notes and preferred stock, lifting its total capital raised since inception to approximately US$129 million.
The round was led by Agronomics, Siddhi Capital, and Lewis and Clark AgriFood, alongside participation from around 40 existing investors, including Griffith Foods, Pulmuone, and Rich Products Corporation.
According to the company, the capital will be used to expand production capacity and support the commercial rollout of its cultivated bluefin tuna toro, a fatty cut traditionally used in high-end sushi and sashimi.
In a public statement, founder and chief executive Lou Cooperhouse said the financing followed a year of tighter capital markets and increased scrutiny across the food technology and agricultural innovation sectors.
Focus on premium seafood production
BlueNalu, which was founded in 2018, is targeting bluefin tuna, a species valued for its texture and flavour but difficult to farm due to its migratory behaviour and biological characteristics.
The company points to supply constraints, overfishing, illegal and unreported catches, and contamination risks such as mercury and plastic exposure as ongoing challenges facing conventional tuna fisheries.
BlueNalu currently operates two facilities in San Diego: one dedicated to research and bioprocess development, and another, a 38,000-square-foot pilot site, designed for technology transfer, early manufacturing, and preparation for market entry.
It has also outlined plans for a future 140,000-square-foot production facility that could produce up to six million pounds of cultivated seafood annually, with the new funding intended to support process optimisation and manufacturing readiness for that site.
Regulatory pathway and market outlook
The company has submitted documentation to the US Food and Drug Administration and is awaiting a no-questions letter before it can sell its cultivated tuna domestically.
At present, Wildtype remains the only company offering cultivated seafood commercially in the US, with its cell-based salmon available in select restaurants.
Beyond the US, BlueNalu has filed regulatory submissions in Singapore, joined the United Kingdom’s regulatory sandbox, and expanded engagement with authorities in markets including Japan, South Korea, Saudi Arabia, and the European Union.
The company has also established partnerships with food and distribution groups, including Pulmuone, Mitsubishi, Sumitomo, Thai Union, Nomad Foods, and Neom, as part of its longer-term international strategy.
The funding comes amid a broader slowdown in investment in cultivated meat and seafood, with startups in the sector raising about US$36 million in the first nine months of 2025, down from US$139 million in 2024, a decline that has coincided with the closure or retrenchment of several high-profile players.
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