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- Wildtype
Wildtype Valuation, Funding & Investors
Wildtype is valued at $43M as of October 2019.
Last Wildtype valuation
$43M
Series A · Oct 2019
Last Wildtype funding round
$7M
Strategic investment · Nov 2022
Cumulative funding Wildtype raised
$123M
across 4 funding rounds
Key investors in Wildtype
Spark Capital
CRV
Root Ventures
Maven Ventures
Temasek
S2G Investments
About Wildtype
Wildtype is a San Francisco-headquartered agtech company producing cell-cultured salmon through cellular agriculture to tackle climate change, food security, and health challenges.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$43M (Oct 2019)
Wildtype Valuation
Wildtype is currently valued at $43M, based on its Series A in October 2019.
The $13M round was led by CRV and Spark Capital, with participation from Maven Ventures, Root Ventures and Mission BioCapital.
Wildtype valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2019 | Series A | $43M |
Wildtype Funding History
Wildtype has raised a total of $123M across 4 funding rounds.
Wildtype's first fundraising round was a $4M seed round in March 2018. The most recent completed round was a $7M strategic investment round in November 2022.
Wildtype funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2022 | Strategic investment | SK Holdings (lead) | $7M | - | Wildtype is a San Francisco-based producer of cultivated salmon founded in 2016, growing seafood from cells to mimic the appearance, texture, and taste of conventional fish without fishing. The company raised $7 million in a Series B-II round on November 24, 2022, led by SK Inc., the investment arm of South Korea's SK Group. SK Inc. announced the investment to expand its portfolio in sustainable food, focusing on ESG-aligned green businesses. Prior to this round, Wildtype had raised $100 million in Series B funding earlier in 2022, marking the largest sum for a cultivated seafood company at the time. The $7 million investment from SK follows a personal visit by SK Group Chairman Chey Tae-won to Wildtype's facility, where he highlighted the potential to reduce carbon emissions and protect marine ecosystems. SK Inc. expects Wildtype to commercialize its product in 2023. SK Inc. has built a portfolio in alternative proteins, including investments in Perfect Day for animal-free dairy proteins, Nature’s Fynd for fermented proteins, and Meatless Farm for plant-based meat. Alongside the Wildtype deal, SK Inc. signed an MOU with Perfect Day and Korean dairy firm Maeil Dairies for a joint venture to manufacture and sell non-animal dairy products in Korea. |
| Feb 2022 | Series B | L Catterton (lead); Temasek; Spark Capital; Maven Ventures; Ryan Rixon; FootPrint Coalition; Cargill; Bezos Expeditions; S2G Investments; Trybe Ventures; CRV; Leonardo DiCaprio | $100M | - | Wildtype is a San Francisco-based startup founded in 2016 that produces sushi-grade cultivated salmon from fish cells, aiming to provide sustainable, contaminant-free seafood free of mercury and microplastics. The company raised $100 million in its Series B funding round on February 23, 2022, led by L Catterton, marking the largest funding round for a cultivated seafood company at the time and bringing total funding to over $120 million. Investors included new participants such as Cargill, Bezos Expeditions, Temasek Holdings, S2G Ventures Oceans and Seafood Fund, Leonardo DiCaprio, Robert Downey Jr.'s FootPrint Coalition, as well as chefs and athletes, alongside existing backers like Spark Capital, CRV, Maven Ventures, and others. The funds are designated to expand production capacity ahead of a U.S. market launch, building on a pilot plant opened in July 2021 in San Francisco's Dogpatch neighborhood with an initial capacity of 200,000 pounds per year. Wildtype is working through the FDA's pre-market consultation process for regulatory approval and plans to initially partner with fine dining restaurants. The company launched a preorder list in 2020 and has focused on sushi-grade salmon to address growing consumer demand for sustainable options. High-profile investors highlighted Wildtype's technological edge and positioning in the cultivated protein revolution. L Catterton partner Jon Owsley noted the brand's standalone quality, while CEO Justin Kolbeck emphasized scaling to meet demand. New board members Alice Raksin from L Catterton and Dr. Berta Strulovici were announced to bolster consumer product development and scientific expertise. |
| Oct 2019 | Series A | CRV (lead); Spark Capital (lead); Maven Ventures; Root Ventures; Mission BioCapital | $13M | $43M | Wildtype develops cultivated salmon grown from cells outside the animal, aiming to produce sustainable, sushi-grade seafood. The San Francisco-based company, founded in 2016, focuses on improving taste, scaling production, and reducing costs to supply restaurants regularly. On October 8, 2019, Wildtype raised a $12.5 million Series A round led by CRV, with participation from Maven Ventures, Spark Capital, and Root Ventures, bringing total funding to $16 million at a post-money valuation of $42.58 million. The funds support product development, such as advancing from minced salmon to full-size filets, and scaling cell-based production, with goals to drop sushi roll costs from $200 to $5. The company conducted private tastings, including a debut at Olympia Oyster Bar in Portland in June 2019, featured in Bloomberg and The New York Times. At the time, Wildtype had a team of 16, including food scientists, engineers, and biologists. |
| Mar 2018 | Seed | Spark Capital (lead); For Good Ventures; Root Ventures; Mission Bay Capital; Full Circle Africa | $4M | - | - |
Who has invested in Wildtype?
18 investors have backed Wildtype across its funding rounds, including Spark Capital, CRV, Root Ventures, Maven Ventures, Temasek and S2G Investments.
Lead investors include SK Holdings, L Catterton, CRV and Spark Capital.
Wildtype Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Mar 2018 | ||
| 2 | Participant | Oct 2019 | ||
| 2 | Participant | Mar 2018 | ||
| 2 | Lead | Oct 2019 | ||
| 1 | Participant | Feb 2022 | ||
| -- | 1 | Participant | Feb 2022 | |
| 1 | Lead | Nov 2022 | ||
| 1 | Participant | Mar 2018 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Lead | Feb 2022 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Participant | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 18 Wildtype investors. Start Free Trial | ||||
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Start Free TrialWildtype Competitors
Wildtype competitors include listed companies like Amoeba, American Vanguard and Bioceres, and private ones like Atarraya Inc, LocalFish and Vestaron.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $41M | - | ||
| Private | - | - | $46M | - | ||
| Publicly listed | - | ($7M) | $48M | 9.9x | ||
| Publicly listed | $515M | ($12M) | $64M | 0.6x | ||
| Private | - | - | $27M | - | ||
| Publicly listed | $333M | ($10M) | $24M | 1.1x |
Wildtype Public Comps
Wildtype is still privately-owned, but its public comps include Carlos Casado, Agroindustrial Laredo, Amoeba, Molinos Juan Semino, Cropmate, Blue Biofuels, Agtira, Murray Cod Australia, Morixe Hermanos and Copeval.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $10M | $2M | 5.3x | - | 21.9x | - | |||
| - | - | - | - | - | - | |||
| - | ($7M) | - | 9.9x | (8.5x) | (15.7x) | |||
| $47M | ($112K) | 0.4x | - | (185.3x) | - | |||
| $48M | $5M | 0.8x | 0.7x | 6.6x | 6.7x | |||
| - | ($3M) | - | - | (13.2x) | - | |||
| $8M | ($3M) | 4.6x | - | (10.9x) | - | |||
| $8M | - | 7.3x | - | - | - | |||
This data is available for Pro users. Sign up to see all Wildtype competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Wildtype
| When was Wildtype founded? | Wildtype was founded in 2016. |
| Where is Wildtype headquartered? | Wildtype is headquartered in San Francisco, CA, United States. |
| Is Wildtype publicly listed? | No, Wildtype is a private, VC-backed company. |
| What is Wildtype's valuation? | Wildtype was last valued at $43M in its Series A in October 2019. |
| How much funding has Wildtype raised? | Wildtype has raised $123M across 4 funding rounds. |
| What was Wildtype's last funding round? | Wildtype's last funding round was a $7M strategic investment round in November 2022, led by SK Holdings. |
| Who are Wildtype's investors? | Wildtype's investors include Spark Capital, Maven Ventures, Root Ventures, CRV, Temasek, Ryan Rixon, SK Holdings, For Good Ventures, FootPrint Coalition, Cargill and 8 others. |
| Which companies are comparable to Wildtype? | Companies comparable to Wildtype include Atarraya Inc, LocalFish, Amoeba, American Vanguard, Vestaron and Bioceres. |
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