Swedish pop star among those investing in plant-based seafood analog firms

Plant-based seafood analog firms in Sweden and Ireland have nabbed major investments.

Stockholm, Sweden-based Hooked Foods, producer of plant-based tuna alternative Toonish, raised EUR 3.8 million (USD 4.4 million), which it said it will use to accelerate its product innovation and international expansion. Investors include Brightly Ventures, Oyster Bay Venture Capital, and Swedish pop star Danny Saucedo.

“The funds will chiefly be used to further expand our presence in Sweden, scale up the team and accelerate product development,” Hooked Co-Founder and CEO Tom Johansson said in a press release.

Johansson revealed the company’s next product in development, a plant-based salmon, will be launched in 2022.

Hooked launched Toonish in major Swedish retail chains and a number of restaurants across the country earlier this year.

Elsewhere, Dublin, Ireland-based Plantruption raised USD 500,000 (EUR 428,000) from venture capital firm SOSV and has been chosen to participate in the firm’s IndieBio accelerator in the United States, the Irish Times reported.

The plant-based seafood startup combines seaweed with other ingredients to make burgers and goujons sold at grocery chains such as SuperValu.

“There is a massive gap at the moment with plant-based burgers, with seafood only representing 1 percent of products, but the situation is changing, which is why we’re trying to move fast,” Plantruption Founder Jennifer O’Brien said.

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