Berlin-based Pacifico Biolabs has emerged from stealth mode with a pioneering approach to producing whole muscle structures for alternative seafood through fermentation.
Zac Austin, the co-founder and CEO, describes fermentation, the process of cultivating cells in bioreactors, as a “complete game-changer” in the quest to replace traditional seafood with sustainable alternatives. Prior to Pacifico Biolabs, Austin served as a strategy consultant at McKinsey in London, where he contributed to the British government’s COVID task force. It was during this time that he crossed paths with co-founder Washington Logroño, who had relocated from Ecuador to Europe for graduate studies in biotechnology.
Austin emphasizes that while fermentation is already utilized in the production of various alternative proteins such as cultivated meat, Pacifico Biolabs has tailored its approach specifically for seafood. He explains, “Seafood is so diverse that it requires different technological approaches to cover different types of products. We produce a highly nutritious biomass, and our formulation is particularly suitable for white fish fillet products.”
The company’s fermentation process involves cultivating multiple microorganisms, including mycelium (mushroom root), to impart nutrition, flavor, and texture to the final product. Additionally, Pacifico Biolabs incorporates side streams from other food production processes to minimize food waste. Given that infrastructure represents a significant capital investment for fermentation, the company is developing a new production process.
Pacifico Biolabs has emerged from stealth mode with $3.3 million in pre-seed funding. The funding round was co-led by Simon Capital and FoodLabs, with participation from Exceptional Ventures and Sprout & About Ventures.
The startup joins a growing cohort of ventures attracting venture capital investment in the alternative seafood sector, which experienced considerable activity in early 2023. Companies like ISH Company, New School Foods, Aqua Cultured Foods, and Bluu Seafood garnered attention from investors during this period. Aquablurb, a Fish Site newsletter covering aquaculture and alternative seafood investments, reported $808 million in venture capital across 56 publicly announced rounds in 2023.
As indicated by the pre-seed funding round, Pacifico Biolabs is still in its nascent stages. The capital raised will be deployed to scale up the fermentation process and introduce the first products to the European market following regulatory approval. Austin underscores the importance of optimization and adjustments that can only be achieved at a larger scale. Once fully operational, the company aims to produce alternative seafood at a cost lower than that of the cheapest farmed fish, making it economically viable across various applications.
“It’s about establishing a practical model that is scalable and cost-effective,” Austin affirms. “Our vision extends beyond seafood to encompass a wide range of food products, aligning with our long-term goals for the next decade.”
