BlueNalu lab-grown bluefin tuna toro

Top story

Lab-grown seafood innovator BlueNalu has raised $33.5m in a series B funding round to continue progress towards launching its sustainable, high-end bluefin tuna across the world.

London-listed cultivated meat investor Agronomics announced this morning on the stock exchange that it now held a 5.1% stake in the US firm after investing $8m across BlueNalu’s seed, series A and series B rounds.

The latest financing - which takes the totalling raised by BlueNalu to more than $100m - will help the business scale and commericialise its cell-cultured seafood as plans to launch its first product following regulatory approval.

Agronomics now has more than 20 cultivate meat businesses in its portfolio, including lab-grown palm oil firm Clean Food Group and pet food player Good Dog Food.

Morning update

It’s a quiet start to the week on the markets.

The FTSE 100 opened up 0.1% to 7,502.84pts.

Early risers include Glanbia, up 4.9% to €15.09, Bakkavor, up 3.8% to 98.6p, McBride, up 3.8% to 38.4p, and C&C Group, up 2.4% to 139.6p,

Ocado is down 2.9% to 554p in the early going and Naked Wines slipped 2.1% to 50.3p.

This week in the City

Tomorrow morning brings the latest grocery market share data from Kantar, alongside the retail sales figures for September from the BRC and KPMG.

PepsiCo is also due to release quarterly results for the third quarter tomorrow afternoon in the US.

Pub group Marston’s will issue a trading statement on Wednesday.

Poundland owner Pepco will update on its Q4 trading on Thursday, as will Boots owner Walgreens Boots and Domino’s Pizza in the US.