Berlin-based Pacifico Biolabs, a biotech startup that has recently emerged from stealth mode, secures $3.3M (approximately €3M) in an oversubscribed pre-seed round of funding.
The funding, led by Simon Capital and FoodLabs, along with Exceptional Ventures and Sprout & About Ventures, will support Pacifico Biolabs in advancing their fermentation technology designed to replace both animal-based and plant-based foods.
Dr. Friedrich Droste, Managing Partner of Simon Capital says, “We are impressed by the swift and significant progress Pacifico Biolabs has made in a short time since founding.”
“Their innovative technical approach to alternative seafood addresses critical environmental and ethical concerns, fitting perfectly with the growing demand for sustainable food choices.”
“Our investment is a testament to our belief in Pacifico’s potential to transform the industry market building a sustainable business, aligning seamlessly with our investment northstar for the next generation.”
Capital utilisation
The funds will facilitate the scaling of Pacifico Biolabs’ technology and the introduction of their first products into the European market.
With plans to scale its process, the company is actively recruiting for key roles, including a Chief Technology Officer and a Chief of Staff.
Pacifico Biolabs uses microbes to create realistic, plant-based seafood alternatives, initially targeting the market due to its potential and compatibility. Their technology shows promise for expanding to other meat and functional food products.
Brief about Pacifico Biolabs
Founded in 2022 by Washington Logrono and Zac Austin, Pacifico Biolabs claims to excel in fermentation innovation.
Focusing on addressing CO2 emissions from the food system, Pacifico aims to provide viable alternatives to meat and fish, recognising the challenges faced by plant-based alternatives in sales and fundraising.
Operating from Leipzig, the company has established “top-tier” research partnerships and attracted top talent.
Pacifico Biolabs CEO, Zac Austin says, “Our technology was developed with a focus on solving many of the challenges that have been faced by both plant-based and fermentation companies in the alternative protein sector.”
“With the support of our expert investors, this funding will enable us to scale our solution effectively, setting the stage for launching our products across Europe.”
Pacifico have established a strong presence in Leipzig, Germany.
Brief about the investors
Founded in 2018, Germany-based Simon Capital is an early-stage VC fund. Specialising in consumption, wellbeing, and productivity sectors, the firm support driven founders who reshape industries.
Simon Capital provides capital as well as access to a broad network of industry experts and clients. Its portfolio includes companies like waterdrop, Just Spices, Infinite Roots, HOLY, MicroHarvest, and Sastrify.
FoodLabs is an early stage VC investor and venture studio specialising in food, climate, and health. Since 2016, the firm has built and invested in over 50 early-stage companies, supporting ambitious and purpose-driven entrepreneurs.
FoodLabs’ investments include Infinite Roots, Formo, Klim, and Meatable.