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New Wave Foods

New Wave Foods

New Wave Foods is a biotechnology company developing plant based alternative seafood products. The company is based out of San Francisco, California and was founded in 2015 by Dominique Barnes and Michelle Wolf.

New Wave Foods is a biotechnology company developing plant based alternative seafood products. The company is based out of San Francisco, California and was founded in 2015 by Dominique Barnes and Michelle Wolf.

Products and Services

New Wave Foods sells a plant-based shrimp alternative made from sustainable ingredients like algae and plant proteins. Conventional seafood-substitute products fail to replicate the texture and flavor of shrimp. Since shrimp get part of their color and flavor from the algae they eat, the company combined algae with other plant proteins, sugar, salt and other flavorings to create a product that mimics the taste, texture and color. The nutritional value of New Wave Foods shrimp may be better then conventional because they are not farmed with hormones and they have no cholesterol. The shrimp shape is achieved by placing the edible composition into molds.

New Wave Foods uses hydrocolloid materials for gelling and thickening. Hydrocolloids are long chain polymers of polysaccharides and proteins that are used in many food formulations for thickening and gelling. One hydrocolloid used by New Wave Foods, sodium alginate is extracted from the cell walls of brown algae and is used in artificial caviar. The composition also includes red algae and soy protein. Other plant protein sources are being tested. They are also working with lycopene, paprika and beta-caroten for adding color.

New Wave Foods Shrimp can be used with culinary techniques normally used for cooking and preparing shrimp. Their shrimp do not change color when you cook them, like regular shrimp, but they are working on incorporating that technology into their shrimp. These plant-based shrimp are vegan, kosher and suitable for people with allergies to shellfish. New Wave Foods Shrimp also provide an alternative for consumers concerned about environmental impacts and working conditions in the shrimp farming industry. Dishes that feature New Wave Foods shrimp are available at Montery Bay Aquarium, Orchard Grocer, New York, Calafia Cafe, Palo Alto, California and by food delivery from Veestro.

Funding

In September 2015, New Wave Foods were accepted to San Francisco accelerator, IndiBio . They have also received funding from Efficient Capacity and New Crop Capital .

Patents

Algae or plant based edible compositions, application US20180084815A1 (2018-03-29), pending US15716272 (2017-09-26), PCT/US2017/053483 (2017-09-26), WO2018058119A1 (2018-03-29).

Description
Status
Link
Date

Algae or plant based edible compositions

Pending

2016-09-26

Timeline

Seed Funding

Total Raised: Undisclosed

Lead Investors: Blue Horizon and SOSV

Investors: Efficient Capital, New Crop Capital and VegInvest

Convertible Note

Total Raised: Undisclosed

Investors: SOSV and Indie Bio

Seed Funding

Total Raised: Undisclosed

Investors: New Crop Capital and Efficient Capacity Fund

Seed Funding

Total Raised: $250,000

Lead Investor: SOSV

Investor: Indie Bio

Company founding

New Wave Foods was founded in 2015 by Dominique Barnes and Michelle Wolf.

People

Name
Role
Related Golden topics

Dominique Barnes

Co-founder, CEO

Michelle Wolf

Co-founder, CTO

Further reading

Title
Author
Link
Type

Are These Insanely Realistic Fake Shrimp the Future of Sustainable Seafood?

Marshal, W.

New Wave Foods’ sustainable shrimp from red algae |

Shrimp's Outrageous Slavery Problem—and How to Fix It

Olga Khazan

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

Veestro meal delivery service

Shrimp Jambalaya

References