Plant-Based Seafood Company New Wave Foods Completes $18 Million Series A Financing

Plant-based seafood company New Wave Foods announced on Wednesday that they’ve completed an $18 million Series A round of financing. The investment round was lead by New Enterprise Associates, along with Evolution VC Partners and other “new and existing investors.”

New Wave Foods was founded in 2015 and turned heads with their creation of a sustainable, plant-based shrimp alternative made from seaweed and other natural ingredients. In September 2019 the company received a major boost when Tyson Ventures...

New Certification for Plant-Based Seafood Created By GFI, World Sustainability Organization

The World Sustainability Organization (WSO) and The Good Food Institute (GFI) have joined together to create a new certification for plant-based seafood.

According to WSO, the plant-based seafood retail category presently stands at around $9.4 million, compared to $939 million for the plant-based meat retail category. Those numbers show that there is potential for growth in the future for the plant-based seafood industry. With consumers more conscious about the products they’re buying and the impact that these products might have on...

Plant-Based Seafood Company Ocean Hugger Foods Falls Victim to Pandemic

Ocean Hugger Foods, the company behind the first plant-based alternative to raw tuna and freshwater eel, announced last week that they are shuttering their operations.

“Due to the COVID-19 health crisis our world is facing, and the fact that our company sells exclusively to foodservice customers (such as university and corporate cafeterias, and restaurants) who are suffering greatly during time time, it is with tremendous sadness that we must report that Ocean Hugger Foods must cease operations,” a note from co-founder and CEO David Benzaquen and...