Biotech start-up Seaqure labs secures funding to develop fungi-based protein

The technology and biotechnology company Seaqure Labs has officially closed a pre-seed round of €470,000 to continue developing and scaling our sustainable feed ingredients based on the vegetative structure of fungi, known as mycelium.

Mycelium is one of the new feed ingredients for aquaculture that the Sweden-based company is researching and developing. In addition to mycelium, it is also working with alternative ingredients to fishmeal, including plant-based proteins, microorganisms, algae, and by-products.

"This funding allows us to take our journey one step closer to making aquaculture a positive impact by providing circular ingredients for a growing food production need in the world," reads a statement.

In this initiative, Chalmers Ventures, Almi Väst, VASTAF (Västkustens Affärsänglar), Propel Capital, SLU Holding AB, and other investors have made contributions.

Six months ago, Seaqure Labs announced its first pre-commercial pilot test in Portugal. Currently, the company is conducting a land-based feeding trial using mycelium-based aquafeed on rainbow trout in Nazaré, Portugal, in partnership with BGI - Sustainable Ventures.

Seaqure Labs is based and founded in Gothenburg, Sweden, and the team represents a diverse blend of expertise ranging from biotechnology, PhDs in fish nutrition and Resource Recovery, competence in Corporate Sustainability, and Finance.