Katapult Ocean Fund invests in NewFish as biotechnology venture develops Marine Whey Protein 80 prototype
Auckland / Oslo, October 6th, 2023
NewFish, a leading New Zealand biotechnology nutrition venture, has been selected to receive investment from Oslo-based Katapult. Days prior to receiving investment, NewFish announced a world-first Marine Whey Protein 80% concentrate prototype suitable for sports and active nutrition.
Katapult’s investment puts NewFish in the top 1% of all 2500 candidates who were assessed for the accelerator program, valuing the microalgae nutrition venture at 10 million NZD and readying for growth into the USA active and sports nutrition industry. In total, the recruitment round screened startups from 6 continents and around 62 countries, and the selected 23 companies represent 13 different countries and span 5 continents.
Ross Brooks, General Partner at Katapult Ocean says, “the NewFish team are combining decades of experience in food, nutrition and algal science to bring a next generation of marine based protein to the market. Algal proteins have the potential to play a key role in relieving pressure and increasing redundancy in our increasingly strained global food system- we are very excited to be part of their journey.”
As part of the investment, NewFish will join 22 startups from around the world in the Katapult 2023 accelerator program: an accelerator program specifically designed for high impact Ocean- and Climate-tech companies. This award-winning program is Katapult’s flagship accelerator program and has received international praise for being the most comprehensive impact program in the world.
Ross says, “The Ocean is the most underinvested natural capital system on our planet and the most promising and productive solution to our climate and resources challenges, hence a great investment opportunity. We are delighted to have NewFish on board and we look forward to the journey ahead through the accelerator program and beyond.”
"NewFish is proud to join forces with Katapult Ocean Fund and Accelerator," said Toby Lane, CEO at NewFish. "Their commitment to fostering businesses that are both profitable and environmentally responsible perfectly aligns with our mission. We look forward to collaborating with Katapult Ocean and leveraging their expertise to accelerate our efforts in creating nutrition solutions without environmental or ethical compromise."
In addition to the Katapult Ocean program, NewFish has just successfully created their first Marine Whey prototype, an 80% Protein Concentrate from the Pacific waters of Aotearoa New Zealand. The product utilizes proprietary technology from its microalgae collection and scientific laboratories in New Zealand. Their prototype has over 80% protein concentrate and nutrition performance similar to whey protein concentrate from dairy. The NewFish prototype also has a complete protein and amino acid profile, making it a compliment for B2B sports and active nutrition manufacturers and representing a breakthrough for the industry.
The funding secured through Katapult will be used for the phase two development of NewFish’s microalgae nutrition ingredients, to bolster the NewFish team, and to support the extensive research and development required to successfully commercialize these groundbreaking ingredients in the highly competitive US market. "Our ambition to enter the United States active and sports nutrition and functional ingredients markets aligns with our vision to make a positive impact on a global scale," shares Toby. The accelerator program will also provide NewFish with invaluable resources, mentorship, and networking opportunities to further its mission of creating more impact-driven nutrition solutions.