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San Diego startup BlueNalu, which is growing fish fillets directly from real fish cells, has raised $60 million in convertible debt financing to build out a pilot factory, continue to pursue regulatory approval and launch its seafood in restaurants.
The 3-year-old firm, which was featured on CNBC’s Streets of Dreams with Marcus Lemonis on Tuesday, is developing cell lines to grow up to eight species of seafood — with mahi-mahi and bluefin tuna targeted as its initial products.
Depending on the pace of U.S. Food and Drug Administration review, BlueNalu could roll out its first cell-based mahi-mahi this year, said President and Chief Executive Lou Cooperhouse.