Aqua Cultured Foods

Founded in 2020, Aqua Cultured Foods is a Chicago-based plant-based meat startup that produces a range of alternative seafood products. The startup leverages a proprietary microbial fermentation process and a strain of fungi, which the company has filed patents for, to produce its seafood alternatives. The fungi strain, allows the company to eliminate the use of starches and isolates in its non-GMO products that claim to offer similar nutrition, taste, and texture to conventional seafood. 

In April 2022, the company announced that new advancements in its fermentation technology have enabled it to double the biomass output of its plant-based seafood, which will help accelerate the production and commercialization process of its products. As of February 2024, Aqua Cultured Foods' portfolio included tuna and scallop alternatives with a minced shrimp product in the pipeline.

In January 2023, the company announced it has begun the buildout of a new manufacturing facility in West Carroll that will enable it to scale the production of its whole-cut seafood alternatives.

Key Partnerships and Customers

In October 2022, Aqua Cultured Foods partnered with SV Group to launch its products in hospitality in Switzerland pending regulatory approval.

In March 2024, the company partnered with Ginkgo Bioworks, a cell programming and biosecurity platform, to enhance AQUA's fermentation technology and product output.

Funding and Financials

In its latest funding round in April 2023, Aqua Cultured Foods raised USD 5.5 million in a seed funding round led by Stray Dog Capital, with participation from H Venture Partners, Aztec Capital Management, and others. The new funds were earmarked for upgrading the company’s recently acquired food-grade facility, supporting the market launch of Aqua’s products, talent acquisitions, and the expansion of food service partnerships for product introductions in late 2023.