What Fishway does

Fishway is a Belgian food-tech company founded in 2022 and headquartered at Bio-incubator Leuven in Heverlee, Belgium. It develops cultivated fish biomass from fish stem cells grown in bioreactors at near room temperature, positioning the output as a contaminant-free, nutritionally equivalent alternative to traditional fish fillets for B2B food ingredient applications. The company addresses a projected 67 million ton global seafood supply-demand gap by 2050 and targets food manufacturers (primary) and foodservice operators (secondary) seeking clean-label, sustainable seafood ingredients free of heavy metals, microplastics, and pharmaceutical residues.

The company's technology rests on three proprietary pillars: high-value fish cell lines, in-house optimized growth media, and a near-room-temperature bioreactor cultivation process designed for energy efficiency. Its 7-person founding team includes CEO Annelies Bogaerts, CTO David Craeye (two decades in biotech process development), and CBO Felix Moons, alongside three scientists and a corporate affairs lead. Fishway holds no disclosed patents but maintains a deep partner ecosystem spanning KU Leuven, UGent, Bio-incubator Leuven, Cellular Agriculture EU, and FEASTS Innovation, supported by grant funding from VLAIO, the European Union, Vlaams Brabant, and Marie Skłodowska-Curie Actions.

Fishway is pre-revenue and pre-commercial, with no disclosed customers, pricing, or equity funding rounds. Its go-to-market is sales-led B2B ingredient supply, and management has indicated strategic interest in expanding into Singapore and the broader Asia-Pacific market alongside its EU base. Revenue is expected to come from negotiated commercial agreements with food manufacturers once regulatory clearance and pilot-scale production are achieved; near-term focus is on EU Novel Food pathway navigation, pilot scale-up, and team expansion.

Name

Fishway

Legal name

Fishway bv

Website

https://fishway.be

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Fishway is a Belgian food-tech startup founded in 2022 that produces cultivated fish biomass from fish stem cells in bioreactors. It sells pre-commercially as a B2B sustainable, contaminant-free ingredient to food manufacturers and foodservice operators.

Ownership category

akta.pro rank

Headquarters

HQ city

Heverlee

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Cultivated Fish Biomass: Production and sale of cultivated fish cell biomass as a high-nutritional food ingredient for various food applications. The biomass serves as an ingredient for food manufacturers rather than a finished consumer product.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Fishway is a B2B food-tech company that produces cultivated fish biomass as a sustainable seafood ingredient. The company isolates stem cells from fish tissue, cultivates them in large bioreactors at near room temperature, and harvests the resulting biomass, which has nutritional value equivalent to traditional fish fillet. The biomass is supplied to food manufacturers and foodservice operators as a clean-label ingredient free from heavy metals, microplastics, and pharmaceutical residues.

Product overview

Fishway offers a single unified product: cultivated fish biomass produced from fish stem cells grown in bioreactors. The company develops high-value fish cell lines and optimized growth media as part of its core cultivated seafood offering. The product provides a sustainable, health-conscious alternative to traditional fish sourcing, eliminating risks from heavy metals, microplastics, and chemical contaminants.

Differentiator

Problem solved

Functional benefit

Products and services

• Cultivated Fish Biomass Biomass of fish cells produced through stem cell isolation, bioreactor cultivation close to room temperature, and harvesting. The biomass has nutritional value equivalent to traditional fish fillet and serves as a high-nutritional food ingredient free from heavy metals, microplastics, and chemical contaminants. It is targeted at food manufacturers and foodservice operators seeking sustainable seafood alternatives.

Quantifiable outcome

• Elimination of heavy metals, microplastics, and chemical contaminants found in traditional seafood
• +1 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• KU LeuvencoreStrategic or Co-development PartnerLeading Belgian university and research institution. Fishway's team has over 10 years of collaborative experience with KU Leuven researchers. The partnership provides access to cutting-edge research facilities and expertise in life sciences and biotechnology.
• UGent (Ghent University)coreStrategic or Co-development PartnerMajor Belgian research university with strong biotechnology programs. Partnership supports Fishway's research and development initiatives in cultivated fish technology.
• Cellular Agriculture EUcoreStrategic or Co-development PartnerEuropean consortium focused on advancing cellular agriculture. Fishway's participation positions the company within the broader European alternative protein ecosystem and regulatory dialogue.
• Bio-incubator LeuvencoreImplementation/ SI/ Consulting PartnerLeuven-based biotech incubator providing startup support, facilities, and mentorship. Critical infrastructure partner for early-stage operations and development.
• FEASTS InnovationcoreStrategic or Co-development PartnerEuropean innovation initiative focused on food systems transformation. Fishway participates as a member company advancing sustainable food technology.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Finless Foods: Cultivated bluefin tuna producer using fish cell technology in bioreactors. Highly comparable to Fishway in product category (cultivated finfish), process (cell cultivation), and B2B go-to-market motion.
• Shiok Meats: Singapore-based cultivated seafood company producing cell-based shrimp, crab, and lobster. Comparable to Fishway as a cultivated-seafood peer using similar bioreactor cell-cultivation technology, but focused on crustaceans and Asia-Pacific markets.
• BlueNalu: Cultivated seafood company focused on premium finfish species (yellowtail, bluefin tuna, mahi-mahi). Closely comparable to Fishway in target species and cellular-agriculture technology, with a more advanced commercial pipeline.
• Wildtype: US-based cultivated seafood company developing cell-based salmon. Directly comparable to Fishway in product category (cultivated finfish) and B2B ingredient strategy, though at a significantly larger scale and funding base.

Broad incumbents

• Meatable: Netherlands-based cultivated pork company using optogenetics-based cell technology. Comparable to Fishway as a European cellular-agriculture peer pursuing B2B ingredient sales, though with a different species focus.
• Mosa Meat: Dutch cultivated-beef pioneer that produced the first cultivated meat burger. Comparable to Fishway as a European cellular-agriculture peer navigating the EU novel-food regulatory pathway, though focused on beef rather than fish.
• Upside Foods: Leading cultivated-meat company (formerly Memphis Meats) with USDA and FDA approvals for cultivated chicken. Comparable as a broader cultivated-meat incumbent using the same cellular-agriculture platform, with far greater capital and regulatory progress.
• Aleph Farms: Israel-based cultivated-beef company with a strong focus on sustainability positioning and regulatory engagement. Comparable to Fishway as a cellular-agriculture incumbent operating under similar novel-food regulatory frameworks.

Others

• New Wave Foods: Plant-based shrimp alternative company competing for the same seafood-substitute demand. Comparable as an alternative-seafood adjacent player serving similar B2B customers, but via plant-based technology rather than cellular agriculture.
• Good Catch Foods: Plant-based seafood alternative brand targeting the same end-customers (food manufacturers, foodservice) seeking sustainable seafood substitutes. Comparable as an alternative-seafood competitor but via plant-based, not cellular, technology.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fishway