Press releases 26 November 2021

Wistrand advises in connection with investment in Peas of Heaven.

Wistrand has advised Peas of Heaven in connection with an investment in the company, which took form as a seed financing of about SEK 27 million, made by Oyster Bay Venture Capital together with Nicoya.

Peas of Heaven is a Swedish company producing vegan alternatives to animal products. Peas of Heaven was founded by Marcus and Lucas Karlsson, two brothers with the business idea of making it easier for people to eat less meat by offering the best plant-based products on the market. Since the founding in 2018, Peas of Heaven has grown rapidly and hope to reach a turnover closer to SEK 60 million during the year 2021. The funds are, among other things, being used for product development, existing product facilities and to secure the company’s future growth, at home as well as on the markets in Norway, Finland, Denmark and, in the long run, Germany.

The investor Oyster Bay Venture Capital, is one of Europe’s leading food and beverage tech VC, and has earlier invested in Swedish companies such as Oatly in 2018. The investor Nicoya is one of Sweden’s leading food tech VC’s and were one of the early investors’ in N!CK”S.

Wistrand’s team has mainly consisted of Hendrik Kangasmuukko (lead partner), Tobias Bratt (IP/IT), Erik Frykenholt (Corporate law) and Tobias Svadling (client manager)