SAN FRANCISCO, June 28, 2022 (GLOBE NEWSWIRE) -- Current Foods (https://currentfoods.com/), an alt-protein challenger known for taking food science below sea level with fish made from plants, has closed $18 million dollars in seed round funding. Investors in this round include Silicon Valley’s alt-meat early movers and cultural tastemakers, spanning sports and music. The red thread connecting them all is a shared goal to redefine industries that have been at a stasis.
“We have always said that Current Foods is bringing the catch of tomorrow to the current,” says Jacek Prus, CEO and Co-founder of Current Foods. “With this round, we’ll be able to do so faster and more universally. Consumers are ready for more seafood options and our ocean’s health can’t wait.”
Current Foods is transforming seafood, with its fish made from plants. The company holds itself to a sushi-grade standard, with a plant-based product that’s so satisfying to the palate that it has been picked up by some of the most discerning sushi chefs across the globe. Current Foods is good for the palate and the planet. This round of funding will enable the company to reach more plates and fridges.
Co-leading Current Food’s seed round are early investors of Beyond Meat: Ray Lane, Managing Partner at Greatpoint Ventures, and Union Grove. "With the earth's growing population eating the foods we love, we are paying the ultimate price...global warming, eroding health, and dwindling protein sources," said Ray. "At GPV, we feel we have invested in the Beyond Meat of seafood, extending the runway of wild tuna, salmon and other predator ocean species for their critical supply of protein to humans and non-humans."
Electric Feel Ventures, the venture arm of entertainment juggernaut, Electric Feel Entertainment, is also participating in the round. “Outside of being a better-for-you and sustainable brand, which is at the center of our fund’s thesis,” Founder, Austin Rosen, notes, “Current Foods is shattering the status quo in the alt-meat space and redefining the category. We’re excited to work with the team at Current to support their mission through our own network.”
Longtime supporters, Astanor Ventures and Tenacity, key in on Current Foods’ prime position to deliver superior, trailblazing product at an attractive price point – a combination alt-protein companies have previously been known to struggle with. Partner Eric Archambeau says, “Astanor backs only impact-driven entrepreneurs whose products can deliver on taste and texture while providing a real solution for current environmental and health crises - with a high quality, nutritious product at an affordable price point. Across all these factors, Current Foods salmon and tuna are clearly head and fins above other products in their category. We are very impressed with the rapid progress Jacek, Sonia and the team have made in the past two years and could not be more excited to support them in this next chapter of development.”
Current Foods has even secured a cosign from CP3: Chris Paul, 12x NBA All-Star and Phoenix Suns kingpin. The company is positioned to accelerate its distribution and product offerings – both domestically and internationally – to enable consumers to enjoy next-gen seafood and save the ocean, all in one bite.
Since its launch in 2020, Current Foods has been making splashy headlines as a category defining food brand, holders of the first Guinness World Record in alt-seafood, named by TIME magazine as one of 2021's Best Inventions, and Fast Company as a World Changing Idea of 2022.
Consumers can now order Current Foods on its website and be among the first to get the catch of tomorrow delivered today, direct to their door.
ABOUT CURRENT FOODS
Current Foods is the new school of fish, taking food science below sea level to make seafood entirely from plants. Earthly ingredients meet imaginative food science to create products that are uncompromising in taste, texture, appearance, and nutritional density, without any of the microplastics, mercury, or planetary strain. After a successful soft launch in spring 2021, Current Foods is now rolling out nationwide in restaurants, retail, and e-commerce. For more information, visit www.currentfoods.com.
MEDIA CONTACT
Debbie Koke/Orca Communications
debbie.koke@orcapr.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0f3aba42-aee5-41c1-ae3e-fda19043e0a0
