BettaF!sh and Hooked Foods secure EIT Food backing to accelerate plant-based protein launches

Two European food-tech companies focused on alternative proteins – Germany’s BettaF!sh and Sweden’s Hooked Foods – have received substantial funding from EIT Food as part of its Fast Track to Market Initiative. Together, the companies will receive nearly €470,000 (around US$509,000) to accelerate the commercialization of their latest plant-based innovations.

EIT Food, supported by the European Institute of Innovation and Technology (EIT), is the world’s largest food innovation community. Its 'Fast Track to Market' program aims to help mature startups and small to medium-sized enterprises bring new or improved agrifood products and services to market rapidly. The current funding cycle awarded a total of €874,503 (US$947,000) to four companies, with BettaF!sh and Hooked Foods standing out for their focus on sustainable, protein-rich alternatives to animal products.

BettaF!sh, based in Berlin, received €248,562 (US$269,200) to expand its seaweed-based product line. The company is introducing two new ready-to-eat canned items – SAL-NOM and TU-NAH Mexican Salad – as well as a B2B ingredient, the Ohmami Seaweed Extract. This umami-rich enhancer is designed for use in baked goods and plant-based meats and is free from artificial additives.

“We’re looking forward to accelerating the launch of our latest seaweed innovations,” commented Deniz Ficicioglu, CEO of BettaF!sh. “After 18 months of development, we’re ready to expand our seaweed platform into new categories and take the next step in sustainable food solutions.”

BettaF!sh has built its brand on the regenerative potential of seaweed, positioning it as a sustainable protein source that requires no freshwater, arable land, or fertilizers. Its TU-NAH range has been marketed as a viable seafood substitute, and the addition of shelf-stable canned options marks an important step in reaching broader consumer segments.

Hooked Foods, headquartered in Stockholm, was awarded €221,375 (US$239,500) to commercialize its new product, The Super Protein. Designed for versatility, The Super Protein offers 30-35g of protein per 100g and can be used across a wide variety of meals, including pasta, wraps, stews, and salads.

“We're incredibly excited to team up with EIT Food through their Fast Track to Market program,” said Tom Johansson, Co-Founder & CEO of Hooked Foods. “Their support is helping Hooked Foods take ‘The Super Protein’ from an ambitious idea to reality. Together, we're making innovative, healthy, and sustainable protein delicious and accessible for everyone.”

Hooked Foods aims to create affordable, clean-label alternatives to conventional meat and fish products. Its growing product portfolio includes items inspired by salmon and tuna, with a focus on high nutritional value and mainstream appeal.

The EIT Food program offers startups access to Revenue-Based Financing (RBF), a flexible model that links repayments to company revenues rather than fixed schedules or equity loss. Repayments begin after the funded project is completed and continue for one to five years until the total repayment cap – comprising the award plus a 7.5% annual premium – is met. Companies also have the option to repay early without penalties.

Applications are now open for the next round of funding, with a total of €2 million (US$2.2 million) available and up to €300,000 (US$324,500) per project. EIT Food is seeking 8 to 10 high-impact commercialization projects that can demonstrate immediate market potential and align with one or more of its core missions: enabling healthier lives through food, supporting a net zero food system, and fostering a transparent, fair, and resilient food sector.

Applicants must propose projects lasting up to 12 months and capable of significantly accelerating commercial success. The deadline for submissions is 6 May 2025.

For more information about the application process and eligibility, email FastTrackCall@eitfood.eu.