3D Printed Salmon Startup Raises €1.5 Million In Funding
Revo Foods, the startup that developed a method for 3D printing veggie-based salmon, raised more than €1.5 million in its first funding round. The first 3D printed products, salmon stripes and salmon spreads, are now entering new European markets after debuting in Austria in 2020.
Some of the company’s key investors include Hazelpond Capital, MKO Holdings, and friends2grow. Money also came from national funds such as the Vienna Business Agency and the FFG Austrian Research Promotion Agency.
The Vienna-based Revo Foods has been developing seafood alternatives since 2020. The goal is to fully recreate the salmon, but only by using 100% plant-based ingredients. The company is currently working on matching the required texture, structure, and taste of salmon and tuna out of pea proteins, algae extracts, and dietary fibers. Apart from being a healthier version of salmon, the process creates less waste and retains more nutritional aspects.
It’s also a good thing for the planet. It helps with reducing the need for industrial fishing, which is very damaging to the environment. At the moment, 90% of global fish stocks are either overfished or at capacity, and this is another effort to reduce these numbers while at the same time creating something delicious.
The first products that hit the market at the end of 2020 were The Smokey One (smoked salmon stripes) and The Creamy One (salmon spreads). The company is actively working on developing salmon further and coming up with tuna sashimi.
Revo Foods representatives said they are “enthusiastic to work with fantastic strategic investors that will really accelerate our 3D printed plant-based seafood market entry.”
Last month, Revo Foods hosted the world’s first tasting for 3D-printed plant-based salmon, allowing interested food lovers to taste the new salmon and provide them with much-needed feedback.
Even though Revo Foods is the first to use 3D printing for seafood, the 3D printing trend has already brought some excellent results for meat. Novameat, a firm from Spain, already developed a 3D printed vegan steak, and Redefine Meat, a startup from Israel that raised an astonishing $29 million, will soon be launching its 3D printed, plant-based meat products.
Despite the pandemic, 2020 was a record year for startup investments, and from looks of it 2021 has a chance to beat this record.