Delivery Hero-backed DX Ventures invests in Bluu Biosciences to pave the way for cell-based fish in Europe’s kitchens

• DX Ventures comes on board as a shareholder in Bluu Biosciences' seed funding round
• Partnership aims to support the commercialization of Bluu Biosciences’ cell-based fish products and to facilitate access to restaurants and kitchens
• Both parties are committed to creating a sustainable global food system

Berlin, 11 May 2021. Since its successful launch in January, Delivery Hero-backed DX Ventures has focused on becoming a trusted venture capital partner for innovative technology startups across a diverse range of industries. With its investment in Bluu Biosciences as part of the company’s seed funding round, DX Ventures continues to support efforts to create a more sustainable global food system.

Bluu Biosciences is the first company in Europe to specialize in the development and production of cell-based fish using advanced biotechnology. Cell-based or cultivated fish is sustainable fish meat produced from real fish cells that is grown in a bioreactor. It is an animal product that, unlike wild-caught fish, is obtained without compromising animal welfare. According to the Food and Agriculture Organization of the United Nations, about 90 percent of all edible fish stocks are already considered maximally exploited or overfished, while demand continues to rise as the world's population grows (source: FAO, 2020). More and more people are relying on fish as their primary source of protein. Producing cell-based fish without harming the ecosystem and at competitive prices can make a critical contribution to global animal protein supply security in the future, as well as bringing a range of health benefits to consumers.

Brendon Blacker, Partner at DX Ventures commented: “Sustainability is at the heart of DX Ventures’ values and we are excited to support Bluu Biosciences to create a more sustainable seafood industry. We decided to partner with Bluu Biosciences after being impressed with the deep expertise of their world-class team and their clear focus on tackling the many challenges associated with the current fishing industry. We also see tremendous potential to leverage our food industry expertise to assist Bluu Biosciences with marketing its cell-based fish products to restaurants and commercial kitchens worldwide.”

Dr Sebastian Rakers, founder and managing director of Bluu Biosciences together with Simon Fabich explained: “With this investment from DX Ventures we have gained a long-term partner who, like us, is committed to greater sustainability in the food sector. With DX Ventures’ strong backing from Delivery Hero SE, a DAX company in Germany, we believe there are many long-term benefits to realize from our partnership. The collaboration is also an incredibly interesting opportunity for future distribution – with the potential to access thousands of great restaurants and kitchens internationally, which we see as an attractive way of accelerating our commercialization roadmap.”

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About DX Ventures

DX Ventures’ mission is to support the next generation of founder-led companies that are disrupting some of the most rapidly changing industries around the world. The investment philosophy is centered on building long term partnerships with founders to provide support throughout the lifecycle and actively create value. More information at www.dxventures.vc

About Bluu GmbH (Bluu Biosciences)

Biotech company Bluu Biosciences is the first company in Europe to specialize in the commercial production of cell-based fish. As a pioneer at the interface of biotechnology and food technology, Bluu Biosciences is stepping up to produce high-quality, sustainable fish products from cell cultures, that feature high nutritional value and a premium flavor profile. The aim is to produce fish sustainably and cost-efficiently, thus making a significant contribution to securing the future supply of animal protein for mankind. The biotech company, based in Berlin and Luebeck, was founded in 2020 by Dr. Sebastian Rakers and Simon Fabich with an expert team of marine biologists, cell biologists, cell and tissue engineers, and food technologists. In R&D, Bluu Biosciences closely cooperates with the Fraunhofer Development Center for Marine and Cellular Biotechnology (EMB) in Luebeck and has a state-of-the-art R&D environment. More information at www.bluu.bio