Purple Carrot Announces Garden Incubator To Accelerate Plant-Based Brands
New Model Designed to De-risk Early Stage Companies for Future Investments
BOSTON, Nov. 21, 2019 /PRNewswire/ -- Purple Carrot, the first 100% plant-based meal kit company, announced today the formation of The Garden Incubator, a new service that will be made available to select early-stage plant-based companies looking to scale. The Garden will serve as an investor, an incubator and a launch pad that will provide a range of services confirming product-market fit and establishing confidence and awareness for future investment and growth.
"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," said Purple Carrot founder and CEO, Andy Levitt. "The de-risking of brands for future follow-on investment will be a key differentiator for this service."
In addition to supporting entrepreneurs with a variety of business services such as strategy, branding, marketing, e-commerce, operations, fulfillment, and data analytics, Purple Carrot will provide companies with up to $250,000 in seed funding. Unovis Partners, the leading venture capital firm in the plant-based space, will provide the funding to those companies meeting its mandate and criteria through its New Crop Capital fund and serve as the Founding Sponsor for The Garden.
"The Garden is a peerless concept that will serve entrepreneurs and investors equally well," said Chris Kerr, Chief Investment Officer from Unovis Partners. "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."
Entrepreneurs are encouraged to apply at www.purplecarrotgarden.com for consideration.
ABOUT PURPLE CARROT
Purple Carrot started with just a seed of an idea in 2014: encourage people to eat more plants for their health and the health of the planet. Today, it is leading the charge for people to adopt a plant-based lifestyle. Purple Carrot's irresistible, globally-inspired recipes, fresh ingredients, and meals are available in the U.S. and Japan. To learn more about Purple Carrot, visit www.purplecarrot.com
ABOUT UNOVIS & NEW CROP CAPITAL
Unovis is a global investment asset manager focused exclusively on companies developing plant-based, fungi and cultivated replacements for animal food products. For more information, visit www.newcropcapital.com
SOURCE Purple Carrot
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