• Plantish, an alternative seafood manufacturer, has raised USD 12.45 million in seed funding led by State of Mind Ventures with participation from Pitango Health Tech, Unovis Capital, TechAviv Founder Partners, SmartAgro, E2JDJ, Alumni Ventures, and OurCrowd. This is claimed to be the largest seed round to date in the alternative seafood market. 

• The funds will be invested in team expansion and R&D to scale its plant-based salmon production technology and distribute initially to foodservice channels including fine dining restaurants within the next two years. The startup plans to expand production by moving to a larger pilot facility in Tel-Aviv with a fully automatic machine. It will have the capacity to produce 20 kg of whole cut plant-based salmon an hour. 

<ul><li> Analyst QuickTake: Founded in 2021, Israeli food tech company Plantish is a relatively new plant-based seafood player that managed to tackle the structure of the complex whole cut. The startup unveiled its first product Plantish Salmon, claimed to be the world’s first vegan whole-cut salmon filet, two months ago. Plantish managed to scoop USD 2 million in a pre-seed round from TechAviv Founder Partners, a venture fund backed by 33 unicorn founders and several angel investors, last summer. The company plans to offer its plant-based salmon at select pop-up locations later this year and enter the first five restaurants by December 2023, while the official launch is planned for 2024.</ul>