UMAMI Bioworks focuses on not farmable, ‘ETP’ (Endangered, Threatened, or Protected) species requested by consumers.
Umami Bioworks
Agronomics Limited has announced that portfolio company Shiok Meats has been acquired by Singapore-based UMAMI Bioworks in a share-for-share transaction. This strategy aims to accelerate the path towards scalable production of sustainable cultivated seafood.
UMAMI Bioworks is based in Singapore and works to enhance go-to-market efficiencies, expand commercial opportunities, and accelerate regulatory approvals and market introduction of cultivated seafood.
Consequently, Agronomics holds now an equity ownership of 0.71% in UMAMI Bioworks on a fully diluted basis. Subject to audit, this position will be carried forward at a book value of £ 0.378 million, the company informed.
UMAMI Bioworks is a Singapore-headquartered company pioneering a standardized, modular, and automated production platform for cultivating 'not caught' seafood.
It uses novel stem cell biology, machine learning, and automation to create the operating system for cultivated seafood production, empowering traditional seafood suppliers to produce a stable, resilient, local supply of culturally relevant seafood products free from mercury, antibiotics, microplastics, and ocean pollutants.
Shiok Meats is a cultivated meat and seafood company - the first of its kind in Singapore and South-East Asia. "Shiok" in Singapore and Malay slang means fantastic, delicious, and simply, pleasure.
Also, Shiok Meats owns SEA's first cultivated red meat company, Gaia Foods. Its mission is to bring delicious, sustainable, and healthy seafood to the table, using its technology to grow meat from healthy cells instead of animals.
The company raised funding of US$ 30 million from notable investors like Aqua-Spark, SEEDS capital, Toyo Seikan, Real Tech Holdings, Big Idea Ventures, Y Combinator, Entrepreneur First, AiiM Partners and Henry Soesanto of Monde Nissin.