Wanda Fish Technologies, an Israeli food tech startup, recently secured $7 million in seed funding for the production of cultivated bluefin tuna. Cultivated bluefin tuna is created using cell-cultivated technology, which involves growing animal proteins from cells without the need to slaughter the animal. Wanda Fish aims to replicate the texture, flavor, and nutritional value of wild-caught fish by creating whole-cut cultivated fish filets. The company’s co-founder and CEO, Daphna Heffetz, explained that they have successfully managed to produce bluefin tuna, a highly demanded and tasty fish, despite its high contamination levels. Wanda Fish is among the few companies in the market working on this specific type of fish.
Israeli food tech startup secures $7M funding
Wanda Fish Technologies, the Israeli startup specializing in food technology, recently raised $7 million in seed funding. This funding will be used to accelerate the initial production of cultivated bluefin tuna. By utilizing cultivated, or cell-cultivated, technology, Wanda Fish aims to create animal proteins without the need for animal slaughter. The company plans to grow bluefin tuna cells in a bioreactor, using fermentation techniques similar to those used in the production of beer. The goal is to replicate the texture, flavor, and nutritional value of wild-caught fish, specifically bluefin tuna, by creating whole-cut cultivated fish filets.
What is cultivated bluefin tuna?
Cultivated bluefin tuna is a type of fish that is produced using cell-cultivated technology. Instead of catching bluefin tuna in the wild, Wanda Fish grows bluefin tuna cells in a bioreactor. These cells are then differentiated into both muscle and fat tissues, creating a whole-cut prototype of bluefin tuna filets. The purpose of cultivating bluefin tuna is to offer a sustainable and ethical alternative to traditional fishing practices, as well as to address the contamination issues associated with wild-caught bluefin tuna. The end product aims to have the same texture, flavor, and nutritional value as wild-caught bluefin tuna.
Benefits of cultivated bluefin tuna
Cultivated bluefin tuna offers several benefits compared to its wild-caught counterpart. Firstly, it provides a sustainable and ethical alternative to traditional fishing practices, as it eliminates the need to catch and slaughter bluefin tuna. This helps to conserve the wild bluefin tuna population and reduce the negative environmental impacts associated with overfishing. Secondly, cultivated bluefin tuna is free from the contaminants that are often found in wild-caught fish, making it a safer and healthier option for consumers. Lastly, by creating a whole-cut prototype of bluefin tuna filets, Wanda Fish can precisely control the fat levels in its products, providing the opportunity to create other cuts, such as the premium-priced toro cut.
Competitors in the market
Wanda Fish is not the only company working on cultivated bluefin tuna. One of its competitors is BlueNalu, which has already raised over $80 million for its bluefin tuna production efforts. BlueNalu is specifically focused on the toro cut of bluefin tuna, which is highly sought after and commands a premium price. Despite the competition, Wanda Fish remains confident in its ability to succeed based on its dynamic approach and the expertise of its co-founders. It aims to differentiate itself through its experience and the various ideas it brings to tackle the challenge of producing cultivated bluefin tuna.
Co-founders and their expertise
Wanda Fish was co-founded in 2021 by Daphna Heffetz and the food tech incubator, The Kitchen Hub. Heffetz, who holds a PhD in biochemistry, has more than 20 years of experience in leading biotechnology companies. Prior to Wanda Fish, she worked at PhytoTech Therapeutics. Alongside Heffetz, the company is led by Malkiel Cohen, an expert in stem cell and genomic engineering, and Yaron Sfadyah. Wanda Fish has also established an exclusive licensing and sponsored research agreement with Tufts University and is working with David Kaplan, a Tufts biomedical engineering professor and cellular agriculture expert. The expertise of the co-founders and their collaboration with Tufts University position Wanda Fish for success in developing cultivated bluefin tuna.
Current progress of Wanda Fish
Although still in the early stages, Wanda Fish has made progress in developing its cultivated bluefin tuna products. The company has successfully formed a 3D filet structure using bluefin tuna cells, differentiating them into both muscle and fat tissues. This accomplishment brings them closer to achieving a whole-cut prototype. With its proprietary technology, Wanda Fish has the ability to precisely control the fat levels in its end products, which will enable the creation of various cuts, including the highly prized toro cut. The recent $7 million funding round will further support the optimization of the company’s technology and accelerate the scalability of its cultivated whole-cut filet of bluefin tuna prototype.
Funding details
Wanda Fish recently secured $7 million in seed funding to support the production of cultivated bluefin tuna. The funding round was led by Aqua-Spark, a sustainable aquaculture and ocean-focused venture capital fund. Existing investors, including The Kitchen Hub, Peregrine Ventures, LLC, PICO Venture Partners, MOREVC, and CPT Capital, LLP, also participated in the round. With this funding, Wanda Fish plans to optimize its technology and accelerate the scalability of its cultivated bluefin tuna prototype. To date, the company has raised a total of $10 million in venture-backed funding, positioning it well for future growth and expansion.
Regulatory approvals and timeline
Wanda Fish expects to begin obtaining regulatory approvals from the U.S. Food and Drug Administration (FDA) and other relevant agencies at the beginning of 2025. These regulatory approvals are necessary to ensure the safety and compliance of its cultivated bluefin tuna products. Once the necessary approvals are obtained, Wanda Fish plans to start selling its products to restaurants in 2026. This timeline reflects the company’s commitment to meeting the highest standards of food safety and regulatory compliance. By working closely with regulatory agencies, Wanda Fish aims to bring its cultivated bluefin tuna to market in a responsible and transparent manner.
Future plans and collaborations
Looking ahead, Wanda Fish has several future plans and collaborations in the pipeline. The company aims to scale up production and improve cost parity to make its cultivated bluefin tuna products more accessible and affordable. Additionally, Wanda Fish plans to collaborate with big food companies for distribution, leveraging their existing networks and resources to reach a wider market. While the core technology is being developed in-house, Wanda Fish recognizes the importance of collaboration to expedite its market entry. By partnering with established industry players, the company aims to accelerate the commercialization of its cultivated bluefin tuna and make a significant impact in the food tech industry.
