TechCrunch reports that Indiebio’s Vertical Oceans (SOSV IBSF11 2021) raised a $3.5 million seed round led by major Silicon Valley fund Khosla Ventures with additional support from SOSV. Vertical Oceans aims to grow sustainable shrimp in huge ‘aqua towers’ inside cities explains how the funding will allow Vertical Oceans to scale its “location agnostic” shrimp farming method facility near downtown Singapore.
Discussing how Vertical Oceans will compete in the $50 billion-a-year shrimp market, CEO John Diener said, it “tastes like fresh shrimp from the ocean, that’s really hard to achieve consistently in a recirculating aquaculture system. Because our product is so high-quality and fresh, we can sell on par with fresh wild-caught versus farmed frozen shrimp. This higher price more than offsets the costs of going vertical and urban.”