Icelandic start-up Loki Foods has raised $650k in a pre-seed funding round, as it looks to develop a line of sustainable seafood alternatives, including a plant-based, whole-cut Atlantic cod fillet.

The company says its realistic cod analogue is nutritionally superior – being high in protein, vitamins, and omega 3 and 6 fatty acids – and cooks just like conventional cod.

Loki says its plant-based cod is also better for the environment, as it requires less land and water and generates less waste. It is also free of microplastics and other pollutants associated with traditional fish and seafood.

Investors in the round included Sustainable Food Ventures, MGMT Ventures, VegInvest, FoodHack, Kale United and Lifely VC.

Mariliis Holm, investor at Sustainable Food Ventures, said: “As the first investor in Loki Foods, we recognised a unique opportunity to build a new narrative for the future of seafood at the very heart of seafood’s global capital – Iceland. Loki Foods’ team, technology and location are truly one of a kind which allows them to produce sustainable alternative proteins in the form of seafood with completely renewable energy and pristine Icelandic water.”

Loki says its product will also help to combat unsustainable fishing and aquaculture in Iceland and beyond.

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