Finance

Plant-based seafood company headed by ex-Mowi executive plans fundraising to attack US market

The company will soon be seeking Series B funding to scale into the US foodservice, retail and wholesale markets.

In just over a year, the Novish brand is now available in 15 countries including Israel, Hong Kong and Canada.
In just over a year, the Novish brand is now available in 15 countries including Israel, Hong Kong and Canada.Foto: NASF

Novish, the Netherlands-based producer of plant-based seafood alternatives, is making its debut in the United States later this month at the Natural Products Expo East trade show, ahead of plans to take on the nation's foodservice, retail and wholesale markets.

To scale in the US market, Novish also said it would be seeking Series B funding in the near future.

Novish was founded in 2019 by Maiko van der Meer, the former top executive at Dutch shrimp giant Klaas Puul and Mowi Consumer Products.
In just over a year, the Novish brand is now available in 15 countries including Israel, Hong Kong and Canada.
The company also signed a contract with UK online retailer Ocado for its plant-based fingers and burgers last year.

Novish has undergone exponential growth in the past couple of years.

The brand has an established following through 300 locations of the pan-European fish restaurant chain Nordsee, and has earned approvals by Compass Group, a global foodservice management company, and Metro/Makro Wholesale, one of the world's largest wholesalers.
A record $3.1 billion (€2.6 billion) was invested in 2020 in companies creating alternative proteins such as plant-based and cell-cultured meat, seafood and other products, according to a report from The Good Food Institute (GFI).

Plant-based and cell-cultured seafood companies raised more than $80 million (€67.2 million) in 2020, four times the amount raised in 2019. This represents 66 percent of the capital raised by alternative seafood companies since GFI began tracking investments in 2015, the group said.

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Published 15 September 2021, 12:47Updated 15 September 2021, 17:55
NovishThe NetherlandsMaiko van der MeerPlant-Based SeafoodNordsee