Israeli food tech startup, Wanda Fish Technologies, has successfully secured $7 million in seed funding to expedite the initial production of cultivated bluefin tuna. Instead of traditional methods involving animal slaughter, their technology focuses on cultivating animal proteins from cells. These cells are grown in a bioreactor, often employing fermentation techniques similar to beer production.
Wanda Fish’s primary goal is to create whole-cut cultivated fish fillets, beginning with bluefin tuna, by using muscle and fat cells to mimic the texture, flavor, and nutritional properties of wild-caught fish, according to Daphna Heffetz, the company’s co-founder and CEO. Heffetz emphasized their unique achievement in producing bluefin tuna, a highly sought-after and delicious fish with a reputation for contamination. She noted that while many companies are attempting to do the same, Wanda Fish’s approach, backed by their diverse expertise, sets them apart.
In the pursuit of bluefin tuna, especially the premium toro cut, Wanda Fish joins the ranks of BlueNalu, which has already raised over $80 million. BlueNalu’s CFO, Amir Feder, previously projected an impressive 75% gross margin within the first year of large-scale production, slated for 2027.
Wanda Fish was founded in 2021 by Daphna Heffetz and the food tech incubator, The Kitchen Hub, established by Strauss-Group. Heffetz, who holds a PhD in biochemistry and has two decades of experience leading biotechnology companies, including PhytoTech Therapeutics, leads the team. She is accompanied by stem cell and genomic engineering expert Malkiel Cohen and Yaron Sfadyah.
The company has an exclusive licensing and sponsored research agreement with Tufts University and collaborates with David Kaplan, a Tufts biomedical engineering professor and cellular agriculture expert.
Although still in its early stages, Wanda Fish has made strides toward creating a whole-cut prototype using 3D fillet structures from bluefin tuna cells, differentiated into muscle and fat tissues. Their proprietary technology allows precise control over fat levels in their products, with plans to expand their offerings, including the toro cut.
Aqua-Spark led the recent $7 million funding round, with participation from existing investors The Kitchen Hub, Peregrine Ventures, LLC, PICO Venture Partners, MOREVC, and CPT Capital, LLP. To date, Wanda Fish has raised $10 million in venture-backed funding.
This fresh capital infusion will empower Wanda Fish to refine its technology and expedite the scalability of its cultivated whole-cut bluefin tuna fillet prototype. Heffetz anticipates initiating regulatory approvals from the U.S. Food and Drug Administration and other regulatory agencies in early 2025, with restaurant sales planned for 2026.
“We will now scale up production and focus on achieving cost parity,” Heffetz declared. “Additionally, we will collaborate with major food companies for distribution. While our core technology is developed in-house, we aim to leverage partnerships to expedite our market entry.”
