The funding was secured only a month after showcasing what the firm describes as “the world’s first vegan whole cut salmon fillet”. The round was led by State of Mind Ventures, with Pitango, TechAviv Founder Partners and SmartAgro participating, amongst others. It follows on from a pre-seed raise of $2 million in 2021, the year it was founded.
Plantish claims that it has succeeded in replicating the taste, texture and nutritional value of salmon using all plant-based ingredients, thanks to its patent pending technology. The startup claims that its technology is cost-effective and scalable. Following the funding round the first of its commercially produced fillets are set to be available in restaurants in 2024.
According to Ofek Ron, CEO and co-founder of the startup, plant-based fish is set to emulate the success of the plant-based meat sector.
“We’ve already seen it happen in the meat market, now it’s the time for fish, in particular salmon, which accounts for $50 billion in the half a trillion dollar seafood market. The problem has been that fish is so difficult to replicate, until now,” he said.