Israeli plant-based seafood startup Plantish has raised $12.45 million in seed funding, the company announced Wednesday.
This capital comes just a month after Plantish unveiled its alternative to cut whole salmon fillet. The capital raised would also be the largest funding round to date in the alternative seafood market.
Following the success of the company’s $2 million pre-seed funding round in June 2021, this latest round was led by investment firms, State of Mind Ventures, alongside participation from Pitango Health Tech. , Unovis Capital, TechAviv Founder Partners, SmartAgro, E2JDJ, Alumni Ventures and Notre Foule.
The new funds will be allocated to growing its team of employees and further funding Plantish’s R&D activities to accelerate product development. The objective is first to embark on the restoration. In fact, Plantish will launch its current prototype, Plantish Salmon™, in pop-up locations later this year before rolling out its product nationwide to restaurants by 2024.
“We know that over 60% of seafood is eaten outside the home and that salmon is among the most popular fish and animal protein in the world,” said Ofek Ron, CEO and co-founder. “As a result, we are focusing our efforts on the restaurant route, and you can expect to see us in fine dining restaurants within two years.”
Founded in mid-2021, Plantish aims to be “the world’s leading seafood brand”, according to Ron. Using patent-pending technology, Plantish develops plant-based whole cut fish fillets with similar taste, texture, protein and omega-3 content to conventionally farmed fish to mitigate the serious impacts of the fishing industry on the ecosystem.
“We’re simply offering a delicious salmon upgrade that’s safer for you and better for the planet. No antibiotics, no hormones, no mercury, no bycatch and no compromise.