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Levi Strauss is the archetypal “picks and shovels” success story, moving to San Francisco in the 1850s during the California Gold Rush and achieving success by selling miners dry goods and other basic needs. His business outlived the boom and bust of the time and eventually grew into a multi-billion dollar denim business.
This is a nascent startup category: the seven companies identified in our analysis have raised < $1.0m of disclosed capital in the aggregate. Seedlip, a leader in the sector, has not disclosed its funding status, and so that number is understated but still directionally indicative.
The driving thesis behind this sector is fairly straightforward. As with other related sectors like the Insect-Based Protein Snacks sector and the Dairy Substitutes sector, the purpose is: to think twice about how humans access protein and key vitamins, to challenge the impact that consumption has on the environment and on people’s health, and… to identify ways to make the system more sustainable.