Pacifico Biolabs, a German biotech startup, has successfully raised $3.3 million in an oversubscribed pre-Seed funding round. Led by Simon Capital and FoodLabs, and joined by Exceptional Ventures and Sprout & About Ventures, the funding will support Pacifico Biolabs in scaling their fermentation technology to replace animal and plant-based foods, starting with the seafood sector.
Dr. Friedrich Droste, Managing Partner of Simon Capital, highlighted their belief in Pacifico’s potential to build a sustainable business, aligning with their investment focus on the next generation.
In the similar context, we have recently seen, German biotech Infinite Roots securing $58M in Series B funding to grow mycelium technology and a £2.25M funding raised for sustainable algae biofuel as well.
Cultivating sustainable ‘Whole-Muscle’ structures for alternative seafood
Pacifico Biolabs specialises in the cultivation of microorganisms, focusing on developing ‘whole-muscle’ structures as sustainable and nutritious alternatives to traditional fish products. Their initial emphasis on the alternative seafood market is driven by the significant environmental impact, commercial viability, and scientific compatibility. The versatile biomass cultivated by Pacifico holds promise for various food products, extending beyond seafood to encompass other meat substitutes and functional food applications.
Zac Austin, CEO of Pacifico Biolabs said their technology was developed with a focus on solving many of the challenges that have been faced by both plant-based and fermentation companies in the alternative protein sector. He further stated, “With the support of our expert investors, this funding will enable us to scale our solution effectively, setting the stage for launching our products across Europe.”
Addressing environmental challenges in seafood supply
The current seafood supply chain contributes to global environmental challenges, including CO2 emissions from practices such as bottom trawling and issues associated with aquaculture, such as pollution and antibiotic overuse. While alternative meat products have gained traction, alternative seafood has faced challenges in both sales and capital acquisition.
“Supporting Pacifico Biolabs in their mission to reshape the seafood industry is a commitment we’re thrilled to make. This focus is not only a strategic move but also aligns with the pressing need for sustainable practices in the seafood sector,” says Patrick Noller, General Partner at FoodLabs. “We are confident that Pacifico’s technology strongly positions them to transform seafood and beyond, addressing the urgent demands of a changing climate.”
How the startup has garnered recognition
Founded in November 2022 by Washington Logrono and Zac Austin, Pacifico Biolabs has rapidly become a leader in fermentation innovation. Their pioneering solution recently earned them first prize in the Net-Zero Food System Mission at the EIT FOOD Summit in Lisbon, demonstrating their commitment to addressing the food system’s contribution to global CO2e emissions.
Strategic partnerships and talent acquisition in Leipzig
Pacifico Biolabs has established a strong presence in Leipzig, forging partnerships with top-tier research institutions for their R&D efforts. The company has also attracted highly-skilled and specialised talent to their team, positioning them for continued innovation and growth.
What we think about the startup
With plans to rapidly scale their fermentation process and launch products in the European market, Pacifico Biolabs is actively recruiting key roles, including a CTO and Chief of Staff. The funding received positions them strategically to address the pressing need for sustainable practices in the food industry, specifically within the seafood sector.
With partnerships with research institutions, a skilled team, and plans for European market entry, Pacifico is well-positioned to disrupt the industry. Their success could pave the way for more sustainable and accessible seafood options, contributing to a greener food system.
However, challenges remain. Scaling production, achieving desired taste and texture, and navigating regulatory hurdles are key hurdles to overcome. Nonetheless, Pacifico Biolabs’ early recognition, strong partnerships, and talented team indicate a promising future for their sustainable fermentation technology.
“We are impressed by the swift and significant progress Pacifico Biolabs has made in a short time since founding. Their innovative technical approach to alternative seafood addresses critical environmental and ethical concerns, fitting perfectly with the growing demand for sustainable food choices,” says Dr. Friedrich Droste, Managing Partner of Simon Capital. “Our investment is a testament to our belief in Pacifico’s potential to transform the industry market building a sustainable business, aligning seamlessly with our investment northstar for the next generation”
