London Daily

Focus on the big picture.
Friday, Jun 20, 2025

South Korean lab-grown shrimp producer bags $8.1M

South Korean lab-grown shrimp producer bags $8.1M

CellMEAT, which develops cell-based shrimp, has secured $8.1M to compete with 120 companies around the world that produce alternative seafood.

As consumers’ interest in the environment and nutrition rises, food-tech companies join the race to invent meat alternatives. In 2021, alternative seafood companies received $175 million in investment globally, increasing 92% from 2020. A South Korean startup called CellMEAT, which develops cell-based shrimp, has secured $8.1 million (10 billion KRW) Series A funding to compete with 120 companies around the world that produce alternative seafood.

The new round of funding, which brings its total raised to $14.1 million, will help CellMEAT continue the research and development of its lab-grown shrimp, ramp up pilot production of its prototype shrimp to 10 kilograms per day from 5 kilograms and expand its offerings to other cultivated seafood, including crustaceans like lobsters and crabs, CellMEAT co-founder and CEO Giljun Park said in an interview with TechCrunch.

CellMEAT intends to enter Singapore, the only country to approve alternative meat products for sale. It aims to commercialize its cultivated shrimps as early as 2023, targeting B2B and B2C consumers, Park continued. CellMEAT is also eyeing the U.S. after entering Asian countries, Park noted.

Late last year, CellMEAT announced the development of its own fetal bovine serum (FBS)-free cell culture medium. Its animal-free cell culture technology would help bring the shrimp meat cost down to approximately $20 or less per kilogram, Park said.

CellMEAT isn’t the only startup developing animal-free cell culture medium technology in this space. San Diego-based cultured seafood company BlueNalu, which partnered with Japanese sushi restaurant operator Food & Life Companies (F&LC) to develop cell-cultured tuna early this year, has cultivated yellowtail fillets in a serum-free solution. San Francisco-based Finless Foods has developed lab-grown bluefin tuna using its own animal-free growth media. Hong Kong-based Avant Meats uses animal-free serum for its cell-based seafood production.

Investors including NauIB, BNK Venture Capital, Strong Ventures and Ryukyung PSG participated in the Series A funding. CellMEAT is considering raising an extension of Series A this year, Park told TechCrunch.

Founded in 2019, CellMEAT raised $4 million in its pre-Series A funding in January 2021. The startup has 25 employees.

Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
Nationwide 'No Kings' Protests Challenge Trump's Leadership
UK Deploys Jets to Middle East Amid Rising Tensions
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
Germany Holds First Veterans Celebration Since WWII
U.S. Health Secretary Dismisses CDC Vaccine Advisory Committee
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×