Atlantic Fish Co. Nets Fresh Funding to Bring Cultivated Seafood Closer to Market

Courtesy: Atlantic Fish Co.

The ocean may cover more than 70% of our planet, but for Atlantic Fish Co. (AFC), the message is clear: we can’t make more of it. With nearly 90% of global fish stocks already at or beyond capacity, the North Carolina-based startup believes the answer to seafood’s sustainability crisis lies not in the sea, but in science.

The company has closed a $1.2 million seed funding round led by Katapult Ocean, with participation from Alwyn Capital, DMV Capital, and the Georgetown Angel Investment Network (GAIN), alongside a Small Business Innovation Research (SBIR) grant from the National Science Foundation (NSF). This brings AFC’s total funding to $2.3 million, including previous support from USDA, NC IDEA, and the North Carolina Biotechnology Center. The new capital will enable AFC to refine its cultivated whitefish fillets, secure regulatory approvals, and expand partnerships with chefs and foodservice groups ahead of market launch.

With a $400 billion global seafood market under growing pressure and traditional aquaculture limited to a few species, AFC’s technology aims to offer a scalable solution. The company’s cell cultivation platform can work across multiple species, both seafood and terrestrial, though its initial focus is on high-value whitefish such as black sea bass.

Building a Better Fish

Founded in 2022 by Doug Grant and Trevor Ham, Atlantic Fish Co. is developing a next-generation platform capable of producing seafood directly from cells. Its first commercial product, the Vista Cut, a cultivated black sea bass fillet, was created in collaboration with the North Carolina Food Innovation Lab, where the company hosted its first tasting event last year.

Unlike traditional aquaculture, AFC’s process starts with a small sample of fish muscle cells that are fed food-grade nutrients and grown into structured fillets inside bioreactors. The result is “restaurant-quality seafood” free from mercury, microplastics, antibiotics, or parasites, issues that increasingly plague wild and farmed fish alike.

“Seafood is under real pressure,” said CEO Doug Grant. “We can make a lot of things, but we can’t make more ocean. Our goal is to build a scalable, sustainable seafood platform that meets global demand without compromising marine ecosystems.”

Swimming Against the Tide

AFC’s funding round arrives at a time of turbulence for the cultivated protein sector. After peaking at $1.3 billion in global investment in 2021, the category shrank dramatically, drawing just $139 million in 2024. Investors have grown more cautious, demanding proof of technical progress and cost efficiency before committing to large-scale rounds.

Grant said Atlantic Fish Co. deliberately took a disciplined approach. “The cultivated meat sector has learned expensive lessons,” he noted. “We’ve stayed capital-efficient with clear milestones and focused on seafood, the category best positioned to break through.”

That focus has earned the company the confidence of ocean- and biotech-focused investors. “Doug, Trevor, and the Atlantic Fish team have demonstrated outstanding execution, consistently hitting technical milestones and advancing toward breakthrough cultivated protein technology,” said Sam Selig, Investment Manager at Katapult Ocean. “Supporting the initial commercialization of their sustainable white fish fillet, and their broader vision to expand across proteins, aligns perfectly with our mission to back ocean- and health-friendly blue foods with meaningful market opportunity and impact.”

From the Lab to the Menu

The seed capital will be used to refine the flavor, texture, and nutritional profile of AFC’s cultivated whitefish fillets; complete regulatory preparation, including pre-market consultation with the FDA; and expand chef and foodservice collaborations to validate product-market fit and establish initial distribution pathways.

Though cultivated seafood represents only a fraction of the broader alternative protein market, momentum is building. In the U.S., Wildtype received the green light to sell its cultivated salmon, which has since appeared on restaurant menus across several states. BlueNalu filed for FDA approval for its cultivated bluefin tuna and announced plans to expand into Europe. Meanwhile, Germany’s Bluu Seafood partnered with Van Hees to develop hybrid products that combine cultivated fish cells with plant-based ingredients, and India’s Biokraft Foods showcased its first cultivated seafood prototypes in collaboration with a national research institute.

Together, these milestones mark a shift from research to commercialization, a path AFC hopes to follow as regulatory clarity improves.

Rethinking Seafood in a Warming World

Beyond technology, AFC’s mission speaks to a larger environmental imperative. Nearly 90% of global fish stocks are either fully exploited or overfished, according to the FAO, while ocean warming and acidification are driving species migration, disease, and declining yields. Studies warn that continued overfishing could push marine biodiversity toward collapse by mid-century.

Cultivated seafood offers one potential pressure valve. By growing fish directly from cells, companies can bypass wild catch, reduce reliance on feed crops, and cut the energy and emissions associated with fishing fleets and cold-chain logistics. The production process also eliminates harmful by-products such as antibiotics or waste runoff that often pollute coastal ecosystems.

Courtesy: Atlantic Fish Co.

As Grant put it, “Our technology isn’t just about clean protein, it’s about giving oceans a chance to recover.”

Consumer sentiment seems to be moving in the same direction. A 2024 survey by the Marine Stewardship Council found that nearly one-third of global consumers have reduced their seafood consumption in the past two years, primarily due to concerns about overfishing and climate change. Forty-three percent reported changing their diets for sustainability reasons.

A Smarter Blueprint for Growth

For now, AFC’s next step is pragmatic: validate its fillets with chefs and foodservice partners, finalize its regulatory pathway, and scale responsibly. The company’s “capital-light” approach, prioritizing early validation over industrial expansion, echoes a growing trend among foodtech startups, from Fork & Good in cultivated red meat to MATR Foods in fungi fermentation and The EVERY Company in precision fermentation. Each emphasizes focused execution, tangible milestones, and early revenue pathways to weather the downturn in alternative protein funding.

If successful, AFC could help reframe cultivated seafood not as a futuristic concept, but as a practical solution within a more sustainable food system. The company’s technology is designed to extend beyond black sea bass, potentially serving as a platform for multiple species and applications.

Founded in 2023, Atlantic Fish Co. partners with chefs, distributors, and research labs to develop premium cultivated seafood that strengthens the resilience and sustainability of global food systems.

For now, Grant remains grounded in the long game. “This is a marathon, not a sprint,” he said. “Every milestone brings us one step closer to a future where seafood thrives, without costing the ocean its life.”