Israeli cell-cultured meat startup using patented organoid technology Forsea Foods, raised USD 5.2 million in a seed funding round led by Target Global, with participation from The Kitchen Foodtech Hub, PeakBridge VC, Zora Ventures, FoodHack, and Milk & Honey Ventures.

The funding will support the development of the company’s first product—cultivated eel—and other species of fish.

The company is also on track to inaugurate its first pilot production plant in 2023 which would enable the company to design a large-scale alpha production system and expedite the launch of its first products.

Analyst QuickTake: Forsea Foods uses organoid technology to develop its cultivated seafood. This technology has its roots in biology and medical research and is capable of growing three-dimensional tissue structures, much like it would grow inside an animal allowing the company to bypass the scaffolding stage to achieve a higher rate of production at cost-effective prices. Even though the company’s initial focus is on cultivated freshwater eel, it claims organoid technology can be used for other types of meat, including beef, pork, and chicken.