Hooked Foods Receives “Overwhelming Support” from Crowdfunding Investors to Launch Plant-Based Fish in Germany

June 26, 2023 –
From Vegconomist

2,147 views

Plant-based fish company Hooked Foods announces it has raised SEK6 million (€500,000) in its first limited crowdfunding round on Crowdcube to scale up its technology and make its products widely accessible to consumers.

“Hooked stands out as the ultimate challenger ready to conquer Germany”

The Swedish company also announced that with the new capital, it will expand to Germany through a partnership with Ooha, a sales agency with “unique knowledge” of the German market and its enormous potential.

Hooked Foods raises SEK6M to expand to Germany — Image courtesy of Hooked Foods

Strong demand for plant-based fish

“We are overwhelmed by the support we have received from our investors and the community, which clearly indicates the strong demand for our plant-based fish substitutes,” says Tom Johansson, CEO of Hooked Foods.

“With the funding we have secured, we will continue to drive innovation and provide sustainable and delicious alternatives for fish lovers worldwide,” he continued.

The round, which is still in its overfunding phase until the 30th of June, reached its financial goals within the first day, claims Hooked Foods.

Top-notch fish

Hooked Foods’ portfolio includes salmon, fish sticks, and tuna alternatives. The products are analogs that replicate the taste, texture, and nutritional profile of traditional seafood to help customers switch to plant-based foods and reduce the negative impact of industrial fishing.

Aside from the crowdfunding campaign, Hooked Foods has raised over €5 million from a limited group of impact investors, including Brightly Ventures, Oyster Bay VC, Veg Capital, Katapult Ocean, ProVeg, Kale United, and local music legend Danny Saucedo. Last November, the company reported 25% month-over-month growth and 300% estimated growth for 2022.

“After extensive exploration and discussions with several vegan seafood companies, it became clear that Hooked possesses all the key ingredients for success. With their talented team, strong brand, and top-notch products at competitive prices, Hooked stands out as the ultimate challenger ready to conquer Germany,” said a spokesperson for Ooha.

Source: Vegconomist.com