GrepBeat last wrote about Atlantic Fish Co. in the spring of 2024. Atlantic Fish Co. is a Triangle-based startup developing eco-conscious solutions to the problem of overfishing.
For this piece, we caught up with Co-Founder and CEO Doug Grant to learn more about him, Atlantic Fish Co.’s recent $1.2M raise and what else has changed for the startup, as well as what might come next on the path to sustainable seafood.
GrepBeat: Before we get started, for readers who may not be familiar, what’s the elevator pitch for Atlantic Fish Co.?
Doug Grant: 90% of global fisheries are harvested at max capacity or unsustainable levels. Atlantic Fish Co. is using cellular agriculture to develop the world’s most scalable, sustainable seafood production to meet this challenge.
GB: When we got in touch, we asked you to look back on your last feature in GrepBeat. When you read about where you were then, what stands out as the biggest change?
Grant: We’ve come a long way in product development since then. Our go-to market product is the Vista Cut, a cultivated black sea bass filet. Externally, our industry has also achieved several regulatory approvals for other cultivated products, so we have a clear path forward to market.
GB: You just announced the closing of a $1.2M seed round. Walk us through the raise and what it means for Atlantic Fish Co.?
Grant: It’s huge for us. We can now execute on the roadmap we’ve planned for the last year. We were grateful to have several pre-seed investors returning and also to welcome new investors with deep knowledge of the sector, namely Katapult Ocean and Alwyn Capital. (Editor’s note: These firms specialize in ocean tech and biotech, respectively.)
GB: Have there been any other milestones or accomplishments you’re particularly proud of along the way?
Grant: Our grant funding. Launching the business in North Carolina has been critical to our success so far. We’ve been awarded federal SBIR grants through both USDA and NSF. We are also very fortunate to have received grants from NC IDEA and the One North Carolina Small Business Program, which offers a matching grant for SBIR awardees.
It’s been really valuable to couple the state grant programs with the federal grant. We also obtained a loan through the North Carolina Biotechnology Center’s Small Business Research Loan program.
GB: Has your team grown or evolved since we last spoke?
Grant: We have. Dr. Khanh Vien joined us as a senior scientist. She went to Duke for her PhD and has been critical to building out our technology platform that allowed us to close this round.
GB: You’ve been on the scene for a little while now. People may know you as a founder, but perhaps less so as a human being. Tell us something we don’t know about you that has nothing to do with your life as a founder.
Grant: I actually live in DC, but I’m back and forth so much between the Triangle and home that people think I’m down there full time. That will likely [be the case] in my future as the company grows, but right now I’m just always at RDU. (Pro tip: The getREEF Virtual Food Hall has the best food in the airport.)
GB: What partners or organizations (service providers, advisors, investors, if any) have been most helpful to you?
Grant: We’ve had so much help along the way that I feel like I’d be doing a disservice to quite a few folks. But the North Carolina Biotechnology Center helped us in the very early days when we were first setting up here. Also very grateful to NC IDEA and the One North Carolina Program.
On the product side, the North Carolina Food Innovation Lab (NCFIL) has been huge. I encourage any food entrepreneurs to engage them.
GB: What is your next, biggest challenge?
Grant: Scaling up production, make more fillets, and developing customers. We’d appreciate introductions to sustainability-forward hospitality groups and innovative restaurants seeking novel additions to their menu. In addition, strategic connections in seafood production and distribution would be incredibly valuable.
GB: If you could go back in time to speak to yourself on the day you founded your startup, what advice would you give your younger self?
Grant: Be patient, keep moving forward. This is a marathon, not a sprint. Don’t get too high or too low no matter what happens.
GB: You finish a long, grueling day of starting up. You’re hungry and/or thirsty. Where in the Triangle are you headed?
Grant: That’s an easy one. Elements Gastropub. 100% plant-based menu that is awesome.
