Tyson Ventures has actually invested in a New age Foods, a start-up making a plant-based shrimp replacement
< img src=" https://techcrunch.com/wp-content/uploads/2019/09/Screen-Shot-2019-09-05-at-9.48.51-AM.png?w=730" > Tyson Foods is getting into the seafood service. Through the< a href =" https://www.tysonfoods.com/innovation/food-innovation/tyson-ventures" > business’s equity capital arm, Tyson is purchasing New Age Foods, a San Francisco-based startup that’s making a plant-based shrimp alternative.
The business, founded by marine biologist Dominique Barnes and chief innovation officer Michelle Wolf, who studied biomedical engineering at Carnegie Mellon, is helmed by long time customer products executive Mary McGovern.
There’s a multibillion-dollar chance in the seafood market as customers turn away from beef as a source of protein, and numerous startups are out in the market pursuing either plant-based or cultured protein options to standard seafood.
Indeed, < a href= "https://techcrunch.com/2019/03/15/shiok-meats-takes-the-cultured-meat-revolution-to-the-seafood-aisle-with-plans-for-cultured-shrimp/ "> Shiok Meats is a business that’s pursuing the advancement of a lab-grown option to farmed shellfish.
For Tyson, the financial investment is the current foray into the significantly competitive market for alternative meats.
The business was also an investor in < a data-entity=" beyond-meat "data-type=" organization" href=" https://crunchbase.com/organization/beyond-meat "target=" _ blank" > Beyond Meat prior to its public offering and is backing the lab-grown meat company Memphis Meats, also.” We’re thrilled about this financial investment in
the fast-growing section of the plant-based protein market,” said Amy Tu, president of< a data-entity =" tyson-ventures" data-type= ” company” href=” https://crunchbase.com/organization/tyson-ventures” target=” _ blank “> Tyson Ventures, in a statement.” This continues our focus of determining and buying business with disruptive items and breakthrough technologies connected to our core service so we can continue to serve a growing global population.”
Choosing together an advancement team of food researchers, academics and chefs under the instructions of co-founder Michelle Wolf, the company has actually produced a seaweed and plant-protein alternative to shrimp that contains the 8 amino acids that are discovered in meat and seafood, the business states. < a data-entity=" new-wave-foods “data-type=” company” href=” https://crunchbase.com/organization/new-wave-foods” target =” _ blank “> New Wave Foods declares that its item is likewise lower in calories and salt than genuine shrimp and has zero cholesterol and no irritants.
” Our product is a delicious, one-for-one direct swap for the genuine thing, and interchangeable in a vast array of recipes,” McGovern said in a statement. “It gives chefs and food service operators excellent menu options while addressing consumers’ growing demand for sustainable options.”
Tyson currently has a line of alternative protein products that it launched earlier this year < a href="https://techcrunch.com/2019/06/13/tyson-foods-launches-its-take-on-alternative-proteins-with-new-raised-rooted-brand/" > under the Raised & Rooted brand name.