Singapore: Shiok Meats, a leading cell-based crustacean meat company based in Singapore, has secured US$12.6 million in Series A funding round, led by Aqua-Spark, an investment fund focused on sustainable aquaculture.
The round also saw the participation a slew of investors from across the world, including SEEDS Capital (the investment arm of Enterprise Singapore), Real Tech Fund (Japan), Irongrey (a global tech investing family office based in Korea), Yellowdog Empowers Fund (South Korea).
According to a press release, Shiok will use the funds to build the first-of-its-kind commercial pilot plant from which it plans to launch its minced shrimp product in 2022.
Mike Velings and Amy Novogratz, Co-founders of Aqua-Spark, said, “The cell-based animal protein industry has been on our radar for some time as once it is at the scale it will have an enormous influence on food production efficiency, food safety, and the environment. As our first investment in cell-based seafood, Shiok Meats immediately stood out to us with their strong, female-led team and impressive milestones to-date.”
