Wasabi Iceland secures seed financing

Wasabi Iceland, a Startup Reykjavik company – 2015 cohort, has secured its first round of seed financing of ca ISK 50 million. The investement comes from a consortium of investors.

The company’s business is to grow and produce the wasabi plant for human consumption, but the plant is highly valuable, particularly in fresh food production. The average person evidently connects wasabi with sushi. Apparently, the wasabi plant is rarely grown in Europe, yet in high demand. The production facilites will be at the Barri greenhouses at Egilsstaðir in E-Iceland. The first harvest is planned in 2017 and the first Icelandic wasabi will be available in the Reykjavik restaurants Fish Market and Grill Market according to a recent agreement between the restaurants and Wasabi Iceland.

The founders are Johan Sindri Hansen and Ragnar Atli Tómasson, both mechanical engineers from University of Iceland. The idea to grow the wasabi plant actually rose while still studying and was their B.S. final project.

Since its participation in Startup Reykjavik 2015, Wasabi Iceland has developed its idea at its offices at the Ocean Cluster in Reykjavik.

I sincerely congratulate the founders and the company on this first stepping stone towards a fruitful future.

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