Saudi Press

Saudi Arabia and the world
Wednesday, Sep 03, 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

Saudi Press
0:00
0:00
Close
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
×