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Prince Khaled bin Alwaleed bin Talal Al Saud s KBW Ventures has made a further investment in California-based BlueNalu, which produces laboratory-grown seafood, after participating in the latest financing round of the food start-up.
BlueNalu raised $60 million in debt through the issue of new convertible notes to both new and existing investors, the company announced on Tuesday evening. This is its largest funding round to date, the company said.
“Our commitment to inject further capital is based on the company’s impressive forward roadmap, detailing a clear path to ramping up production and bringing its first product to market,” Prince Khaled, founder and chief executive of KBW Ventures, said.