Loki Foods, an Icelandic venture-backed food technology company specializing in plant-based meats and seafood, has officially opened its first-scale production site in Kópavogur, Iceland. The new facility was launched ahead of schedule in March 2023 and will enable the company to meet the growing demand for sustainable and nutritious plant-based food products in domestic and international markets.
This news follows the recent announcement of a Eurostars grant awarded to Loki Foods by the Icelandic Centre for Research (Rannís), in partnership with NoPalm Ingredients, Flecks Brauhaus Technik GmbH, NewMilkLab NV, and the University of Iceland. The grant will support the development of next-generation plant-based meats and seafood that are high in protein, omega-3s, and other desirable nutrients, and are made using renewable energy.
Loki Foods’ flagship product is the Loki Fillet, a plant-based white fish fillet that mimics the taste, texture, and cooking properties of North Atlantic cod while being sustainable and nutritious.
The company has received early-stage funding from leading food technology investment funds, including Sustainable Food Ventures, Big Idea Ventures, VegInvest, FoodHack, Kale United, and Lifely VC. “Kale United has invested in plant-based seafood for a long time. Most companies have addressed categories that are easier to mimic. But Loki Foods are not afraid of going after the most important product – white fish fillet,” Måns Ullerstam, Founder of Kale United invested in Loki Foods’ oversubscribed pre-seed round in 2022.
Below you can access our article about Loki Foods’ pre-seed round last year.