Plant-based meat manufacturer Growthwell Foods just announced it raised $8 million to make seafood from chickpeas.
The Singapore-based firm plans to invest in Israeli food-tech start-up ChickP. The start-up developed “the world’s first 90 percent chickpea protein isolate.” Growthwell will use ChickP’s innovative technology to make its chickpea protein-based seafood products.
The company will also use the funding to open a research and development center in Singapore. The facility will include a fully automated manufacturing line to produce its plant-based seafood and other meat products.
“As a leading manufacturer, we aim to capitalize on the growing global demand for plant-based alternatives in the areas of meat and seafood. The recent COVID-19 pandemic has revealed the vulnerabilities of our food supply chains,” Growthwell Executive Director Justin Chou said in a statement.
He continued: “Our decision to build a manufacturing facility in Singapore is a timely solution to tackle the food security issue. Ultimately, Growthwell strives to be the local and regional champion in supporting the drive to achieve long-term food supply stability.”
Growthwell was founded in 1989 and specializes in making plant-based food and beverage products in Singapore, India, Australia, and the U.S., according to The Strait Times. The company’s chickpea-based seafood range will include ChickP Squid, ChickP Shrimp, and ChickP Crab Patty, reports The Strait Times.
Plant-Based Seafood
The new chickpea-based seafood products will join a growing number of other vegan seafood brands on the market.
Upton’s Naturals’ banana blossom fish is hitting Whole Foods Market’s store shelves nationwide this month. Banana blossoms, also known as banana hearts, are a popular plant-based alternative to fish. They are the fleshy, purple flowers that grow at the ends of banana fruit clusters.
“It has a light, delicate, flaky texture like fish, and works really well breaded and fried as a fish alternative,” Dan Staackmann, Upton’s Naturals’ founder, told FoodNavigator-USA.
Atlantic Natural Foods has its own brand of sustainable, healthy vegan tuna. The product, Tuno, is high in protein, gluten-free, and tastes just like “real” tuna. NYC-based food startup Good Catch Foods is also revolutionizing the multi-billion dollar seafood industry. It offers a vegan tuna, which launched last year.
Dutch brand Vivera and U.K. brand Quorn sell plant-based seafood products. And popular plant-based brand Gardein offers two, ready-to-heat, vegan seafood options: crispy, crabless cakes and golden fishless fillets.
