Mermade Seafoods, founded in 2021, is a Jerusalem-based producer of cultivated seafood. The company develops cultivated scallops using a circular cellular agricultural technology called “cytoponics.” This novel patent-pending production method upcycles bio-waste from cell-cultured meat production (made of water, ammonia, and carbon dioxide) to feed algae, which in turn is used as a growth medium. Mermade Seafoods claims this method results in products that are cost-effective with a high nutritional value.
Funding and financials
In August 2022 , the company raised USD 3.3 million in a seed funding round with the participation of Our Crowd, Fall Line, and Sake Bosch. The funding was intended for hiring new stem cell and algae researchers for its cultivated scallop project.
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