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German biotech start-up Pacifico Biolabs has secured $3.3 million in an oversubscribed pre-seed funding round.

The funding will be used to advance the start-up's fermentation technology, which is aimed at replacing animal-based and plant-based foods.

Led by Simon Capital and FoodLabs, with Exceptional Ventures and Sprout & About Ventures, the investment will enable Pacifico to scale its technology and launch its first products in the European market.

Pacifico Biolabs is developing whole-muscle structures using a fermentation process that involves the cultivation of multiple microorganisms, including mycelium (mushroom root), to provide nutrition, flavour and texture. The company is building a new production process. with an initial focus on the alternative seafood market.

Pacifico's CEO Zac Austin said: “Our technology was developed with a focus on solving many of the challenges that have been faced by both plant-based and fermentation companies in the alternative protein sector. With the support of our expert investors, this funding will enable us to scale our solution effectively, setting the stage for launching our products across Europe."

Friedrich Droste, managing partner of Simon Capital, commented: “We are impressed by the swift and significant progress Pacifico Biolabs has made in a short time since founding. Their innovative technical approach to alternative seafood addresses critical environmental and ethical concerns, fitting perfectly with the growing demand for sustainable food choices. Our investment is a testament to our belief in Pacifico’s potential to transform the industry market building a sustainable business, aligning seamlessly with our investment for the next generation"

Patrick Noller, general partner at FoodLabs, added: “Supporting Pacifico Biolabs in their mission to reshape the seafood industry is a commitment we're thrilled to make. This focus is not only a strategic move but also aligns with the pressing need for sustainable practices in the seafood sector. We are confident that Pacifico's technology strongly positions them to transform seafood and beyond, addressing the urgent demands of a changing climate.”

Founded in November 2022, Pacifico Biolabs was recently awarded the first prize in the ‘Net-Zero Food System Mission’ at the EIT FOOD Summit in Lisbon, Portugal.


#PacificoBiolabs #Germany

Pacifico Biolabs raises $3.3m in pre-seed funding for alt-seafood

Phoebe Fraser

16 February 2024

Pacifico Biolabs raises $3.3m in pre-seed funding for alt-seafood

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