Mermade Seafoods, a Jerusalem, Israel-based FoodTech startup, raised $3.3M in Seed funding.
The round was led by OurCrowd, Fall Line, and Sake Bosch.
The company intends to use the funds to to develop a product and reach laboratory-scale production by 2023.
Founded in July 2021 by Daniel Einhorn (CEO), Dr. Rotem Kadir (CTO) and Dr. Tomer Halevy (COO), Mermade produces cultivated scallops based on cellular agriculture. Mermade will use the funds to employ more stem cell and algae researchers, accelerating the company towards this goal. Scallop is just the first product the company will develop out of a diverse portfolio of seafood that will gradually arrive on the market.
Mermade has filed several patent applications related to this circular production method, which distinguishes it from other companies on the market.
FinSMEs
30/08/2022