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

Wildtype Overview

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

United StatesSan Francisco, CA

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

Wildtype valuation by funding round
DateStageValuation
Oct 2019Series 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

Wildtype funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2022Strategic investmentSK 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 2022Series BL 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 2019Series ACRV (lead); Spark Capital (lead); Maven Ventures; Root Ventures; Mission BioCapital$13M$43MWildtype 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 2018SeedSpark 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

Investors in Wildtype by funding rounds participated
InvestorHQRoundsRoleFirst check
Spark CapitalUnited StatesSan Francisco, CA3LeadMar 2018
Maven VenturesUnited StatesSan Francisco, CA2ParticipantOct 2019
Root VenturesUnited StatesUnited States2ParticipantMar 2018
CRVUnited StatesUnited States2LeadOct 2019
TemasekSingaporeSingapore1ParticipantFeb 2022
Ryan Rixon--1ParticipantFeb 2022
SK HoldingsSouth KoreaSouth Korea1LeadNov 2022
For Good VenturesUnited StatesSan Francisco, CA1ParticipantMar 2018
FootPrint CoalitionUnited StatesLos Angeles, CA1ParticipantFeb 2022
CargillUnited StatesMinneapolis, MN1ParticipantFeb 2022
L CattertonUnited StatesGreenwich, CT1LeadFeb 2022
Bezos ExpeditionsUnited StatesWashington, DC1ParticipantFeb 2022
S2G InvestmentsUnited StatesChicago, IL1ParticipantFeb 2022

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Wildtype Competitors

Wildtype competitors include listed companies like Amoeba, American Vanguard and Bioceres, and private ones like Atarraya Inc, LocalFish and Vestaron.

Public and private companies comparable to Wildtype
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Atarraya IncUnited StatesIndianapolis, INPrivate--$41M-
LocalFishSwitzerlandZurichPrivate--$46M-
AmoebaFranceFrancePublicly listed-($7M)$48M9.9x
American VanguardUnited StatesUnited StatesPublicly listed$515M($12M)$64M0.6x
VestaronUnited StatesDurham, NCPrivate--$27M-
BioceresArgentinaArgentinaPublicly listed$333M($10M)$24M1.1x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Carlos Casado$10M$2M5.3x-21.9x-
Agroindustrial Laredo------
Amoeba-($7M)-9.9x(8.5x)(15.7x)
Molinos Juan Semino$47M($112K)0.4x-(185.3x)-
Cropmate$48M$5M0.8x0.7x6.6x6.7x
Blue Biofuels-($3M)--(13.2x)-
Agtira$8M($3M)4.6x-(10.9x)-
Murray Cod Australia$8M-7.3x---

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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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