As the world seeks to find alternative ways to feed our growing population in a sustainable and environmentally friendly way, one solution could be cell-cultured meat and seafood. Cell-cultured meat and seafood aims to disrupt the traditional food supply chain by creating a viable and sustainable alternative to conventional sources.
Cultured meat is a form of cellular agriculture where meat is produced by in vitro cell culture of animal cells, instead of through the raising of live animals. According to a recent study by Boston Consulting Group and Blue Horizon, alternative proteins such as cell-cultured meat could claim as much as 22% of the overall protein market by 2035.
As part of that transformation, we are excited to announce our investment in Cultured Decadence, an early-stage company based in Madison, WI, focused specifically on cellular aquaculture. The company is initially focused on producing cellular cultured lobster meat. Cultured Decadence is the only one in North America specifically targeting crustaceans using novel cell culture and tissue engineering techniques.
With $1.6MM in Pre-Seed capital from strong co-investors such as Bluestein Ventures and Revolution’s Rise of the Rest Seed Fund, Cultured Decadence will be able to advance the progress of their research and development towards disrupting the $20B global crustacean market.
Why did Branch Venture Group Invest in Cultured Decadence?
Ian Johnson (CSO/Co-founder) reviews proliferation of lobster cells at Cultured Decadence’s facility in Madison, WI—part of the first steps in making lobster meat directly from cells.
People: Ian Johnson (CSO/Co-founder)
We were excited to connect with Cultured Decadence and work with co-founders, John Pattison and Ian Johnson, as we evaluated the opportunity. As a Boston-based investment network with an active member base whose interests include in high-growth food related businesses, Branch Venture Group evaluates food-tech companies working on plant-based or cell-cultured foods as well as ingredients and technologies to transform the food supply chain. When John and Ian approached the team with the opportunity to participate in their Seed round, we were eager to invest. Here’s why:
The Crustacean Supply Chain has some serious problems
Global warming and increasingly acidic oceans negatively affect wild catch of all seafood, while fossil-fuel intensive harvest methods have an outsized impact on the environment. Oceans absorb 90% of global temperature increases which have caused fisheries to migrate further from land to deeper and cooler waters while these changes in the ocean environment can cause more variable yield in fisherman's catch. Governments have also instituted regulations which limit supply, just as the nutritional benefits of a seafood rich diet are being recognized driving increased consumer demand and awareness.
The lobster market has not been immune to these trends and feel them even more dramatically as lobsters are not able to be grown by aquaculture farming techniques. Finally, 50% of catch is thrown back today due to size requirements to protect the breeding stock.
The team at Cultured Decadence is aiming to eliminate supply chain inefficiencies and waste by focusing on producing the end product, lobster meat. The meat itself will be fresh, traceable, and sustainable while also being mercury and plastic free with a similar great taste and comparable nutrition to wild caught crustaceans.
Uniquely Qualified Co-Founders and Advisory Board
Cultured Decadence team in their facility in Madison, WI
Subjects from L to R: Daniel Devine (Senior Research Associate), John Pattison (CEO/Co-founder), Leila Mohammadiamirabad (Scientist), and Ian Johnson (CSO/Co-founder), not pictured Jessica Weaver (Strategic Partnerships).
John and Ian each have extensive experience working on cell-cultured meat. Prior to co-founding Cultured Decadence, CEO John Pattison and CSO Ian Johnson each gained extensive experience in the cell-cultured meat space. Previously, John was the Director of Operations at New Age Meats, a cell-cultured meat company focused on pork. He also serves on the Board of Directors of New Harvest, the leading non-profit research institute dedicated to advancing cell-cultured meat technologies. John is a veteran of the US Army and received his MBA from NYU Stern. Ian was previously a Senior Scientist at Finless Foods, a cell-cultured meat company focused on bluefin tuna. Prior to Finless Foods, he worked at two clinical stage companies giving him experience with the FDA.
John and Ian are also working with leading institutions such as the University of Maine and the Lobster Institute as well as the Virginia Institute of Marine Science to help develop their crustacean cell culture.
Attractive Market and Retail Price Point
The market size for lobster meat in the US is estimated to be roughly $20B and consists of whole meat products as well as added ingredients and flavoring for products such as fishcakes, raviolis, and bisques. Due to the limit on supply via government regulations, this market size is primarily attributed to the high price point of lobster meat which can cost anywhere from $50-75 per pound.
One of the biggest skepticisms today of cell-cultured meat production revolves around its ability to produce products at a cost equivalent to conventional products. Cultured Decadence’s focus on high value crustacean meat can allow them a faster path to profitability compared to other cell-cultured meat companies who are focusing on lower priced products such as poultry or beef.
Want to Learn More about Cultured Decadence?
Cultured Decadence is growing their team (check out the open roles here) as the company continues to conduct research and development and scale. You can also follow Cultured Decadence on their LinkedIn and Twitter. We could not be more excited to have Cultured Decadence joining the Branch Venture group portfolio and we look forward to working with them on their continued success.