Tyson Ventures has invested in New Wave Foods, a startup making a plant-based shrimp substitute
Tyson Foods is getting into the seafood business.
The company, founded by marine biologist Dominique Barnes and chief technology officer Michelle Wolf, who studied biomedical engineering at Carnegie Mellon, is helmed by longtime consumer goods executive Mary McGovern.
There’s a multibillion-dollar opportunity in the seafood market as consumers turn away from beef as a source of protein, and several startups are out in the market pursuing either plant-based or cultured protein alternatives to traditional seafood.
For Tyson, the investment is the latest foray into the increasingly competitive market for alternative meats.
“We’re excited about this investment in the fast-growing segment of the plant-based protein market,” said Amy Tu, president of Tyson Ventures, in a