Tyson Foods is getting into the seafood business.

Through the company’s venture capital arm, Tyson is investing in New Wave Foods, a San Francisco-based startup that’s making a plant-based shrimp substitute.

The company, founded by marine biologist, Dominique Barnes, and chief technology officer, Michelle Wolf, who studied biomedical engineering at Carnegie Mellon, is helmed by longtime consumer goods executive Mary McGovern.

There’s a multi-billion dollar opportunity in the seafood market as consumers turn away from beef as a source of protein and several startups are out in the market pursuing either plant based or cultured protein alternatives to traditional seafood.

Indeed, Shiok Meats, is a company that’s pursuing the development of a lab-grown alternative to farmed shellfish.

For Tyson, the investment is the latest foray

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