Israeli startup Plantish, which develops whole cut plant-based fish, has raised $12.5 million in a seed funding round led by State Of Mind Ventures. Other participants included Pitango Health Tech, Unovis, and TechAviv Founder Partners.
Plantish says the raise is the largest ever seed funding round for an alt-seafood company. It follows on from the startup’s $2 million pre-seed round last June.
The funding will be used to expand Plantish’s team and increase R&D efforts, as well as to work towards commercialisation. The company aims to launch its first product, whole cut salmon, for foodservice within the next two years. The salmon will also be available at popup locations by the end of 2022.
Nutritionally equivalent plant-based seafood
Plantish was founded just last year with the aim of developing a sustainable alternative to whole cut seafood. Most of the seafood alternatives currently available focus on minced products such as fish fingers and burgers, but Plantish’s unique technology is able to replicate components such as connective tissue and muscle tissue layers.
This results in fish alternatives that can be produced very affordably and at scale, while having the same nutritional value as conventional fish — Plantish’s salmon is high in protein and omega 3 fatty acids.
While other companies have developed whole-cut seafood alternatives, these are often cultivated products grown from fish cells, which are typically expensive to produce.
“We love fish and are not trying to change what consumers want,” said Plantish CEO and co-founder Ofek Ron. “We are just offering a delicious upgrade to salmon that is safer for you and better for the planet. No antibiotics, no hormones, no mercury, no bycatch, and no compromise.”