Vegan Meal Kit Service Purple Carrot Launches Venture Funding Platform

Vegan business is growing, in India and globally, and here’s money to be made in plant-based business ventures! According to data from investment firm UBS, the plant-based protein and meat segment is set to touch a whopping $85 billion by 2030 - and more and more people are getting on board.

Purple Carrot, the plant-based meal kit service which is backed by vegan football star Tom Brady, announced a new incubator programme called The Garden Incubator that will invest in plant-based companies and help them scale up.

Selected participants will receive $250,000 in seed round funding (provided by venture capital firm Unovis Partners and its New Crop Capital fund). In addition, they will also receive mentorship – Purple Carrot will work with them on branding, growth strategy, operations, finance, fulfilment and data analytics.

Chris Kerr, Chief Investment Officer of Unovis Partners said “Early-stage companies can get support by industry veterans, along with rapid market validation to de-risk for future funding rounds. We’re thrilled to be a part of this plant-based revolution with Purple Carrot.”

Purple Carrot was launched in 2014 with the aim to get people to eat plant-based for their own health and the health of the planet. Its products are available across the US and in Japan. Founder and CEO Andy Levitt said “The plant-based space is in the midst of a powerful transformation with a range of early-stage brands that are struggling for investment dollars, product-market fit, and distribution. With The Garden our goal is to accelerate the positive trajectory of qualifying brands, improve their focus and enable rapid and improved distribution in the U.S. and beyond.” 

_{*Feature image courtesy The Spoon}

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