Seafood Reboot Scores 3.2M€ for Algae-based Foods

 Seagriculture EU 2024
Seafood Reboot

Seafood Reboot plans to produce and deliver the next generation of good tasting plant- and algae-based alternative seafood products.

Seafood Reboot, a six-month-old foodtech startup based in Paris, France, has completed a 3.2M€ pre-seed round that will help the company finalize its R&D and prepare to market its first-generation plant-based alternative seafood products.

The financing round was led by Demeter Partners, a major European player in venture capital and private equity for the energy and ecological transition. Also investing were SenseII Ventures, a community of entrepreneurs from various horizons and industries; VC investment fund Founders Future; and Beyond Impact, a vegan investment platform.

Seafood Reboot was founded in October 2021 when Executive Chairman François Blum and CEO Simon Ferniot met with Alvyn Severin, the founder of Algama — an innovation startup pioneer in the valorization of algae for food applications.

The three were convinced that the infinite potential and pivotal role of the oceans in our ecosystems are a source of unlimited creativity. With the help of cutting-edge expertise on algae and seaweed, and a strong innovation capacity, Mssrs. Blum and Ferniot set out to develop the next generation of plant-based seafood alternatives that they agreed would be delicious, natural, and healthy.

“In the light of the climate change emergency and the rapid deterioration of all forms of marine life, the public becomes more and more aware and thus conscious of the need for a change in our diet habits.”

According to the company’s website, “As a team, we’re all about creating, producing, and delivering the next generation of delicious plant-based seafood (comprising notably ingredients from algae origin) so that each and every one of us can contribute to a better world in a positive way while enjoying a delicious meal.”

The company intends to become a leader in the plant-based food transition. “Meat and dairy substitutes have flourished on the shelves and our plates over the past few years, but plant-based seafood remains a vastly untapped emerging segment,” said the two founders.

“In the light of the climate change emergency and the rapid deterioration of all forms of marine life, the public becomes more and more aware and thus conscious of the need for a change in our diet habits,” they said. “Seafood Reboot is dedicated to playing a major part in this evolution/revolution by creating and marketing a new generation of plant-based seafood products made from algae ingredients and available to all consumers with unequaled taste, texture, and nutritional profile.”

This latest round of funding will also help to accelerate the structuring and development of the company, notably the construction of a first pilot production facility scheduled to be operational in Q1-2023. It will, additionally, strengthen the resources of the Innovation/R&D team being put into place. Isabelle Chambaud, PhD., recently joined the company as R&D/Innovation Director after nearly twenty years with the Danone group, where she held various R&D positions, including recently coordinating the innovation strategy and related projects performance at the European level.

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Seagriculture USA 2024
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