It's not just insects and cultivated meat companies that are closing large funding rounds. Something's moving in the algae sector too. Qualitas Health, a producer of omega-3 from algal biomass, secured $10 million in venture funds to expand into the alternative protein sector.

The investment round was led by Malta-based foodtech investor PeakBridge, together with Arancia Group, a Mexican ingredient and food service conglomerate, Minrav (Qualitas Health's largest investor) and additional private investors.

Qualitas Health stands out in the microalgae industry for cultivating Nannochrolopsis in pond systems the size of football stadiums built on non-arable land in the deserts of New Mexico and Texas.
Another uniqueness of its process is its very small footprint on the ecosystem, as it relies on saltwater and the sun as the main source of energy and places zero strain on the natural ecosystem.
Nannochrolopsis contains all of the essential amino acids, plus vitamins, minerals, chlorophyll, and essential fatty acids, especially omega-3.

Qualitas Health currently produces and markets proprietary high-absorption omega-3, with 15 supplement SKUs under the iwi brand in the US, including soft gels and functional gummies.

"This investment will be instrumental to accelerating growth in 2021 as iwi advances to the industrial pilot stage of our unique plant-based protein, start the regulatory process, and conduct additional clinical studies," says Miguel Calatayud, CEO of Qualitas Health. "This uniquely sourced, complete plant protein will be ready for commercialization in 2022."

“This new investment round is a significant milestone for our company," adds Calatayud. "We are fortunate to have such prominent partners join us in our journey and we are grateful to our existing and new shareholders for their commitment and ongoing support. iwi experienced significant growth in 2020 with online sales, and strong sales growth is forecast to continue in 2021.”