Gathered Foods raises $32m through Series B funding round

Gathered Foods, a US-based producer of Good Catch plant-based seafood products, has raised more than $32m through Series B funding round.

The company will use this to support its growth plans.

General Mills venture arm 301 INC and Greenleaf Foods were the key investors.

The funding round was led by Stray Dog Capital and Rocana Ventures.

Other investors who participated in the funding round included Almanac Investments, CPT Capital and New Crop Capital.

301 INC managing director John Haugen said: “When we met the Good Catch team, we were immediately captivated with their mission to develop more sustainable plant-based seafood products that taste as delicious as traditional seafood.

“Good Catch stands out as a strong, expandable brand with passionate leadership, and we’re excited to partner to grow.”

Gathered Foods will use the proceeds to expand its distribution footprint across North America, Europe as well as in Asia.

It also intends to build a new manufacturing facility, as well as launch a new foodservice channel early this year.

Gathered Foods products are currently available across 4,500 outlets in the US. In the coming weeks, the company plans to launch its products in the UK market.

It says that all its products are free from dairy, GMOs, toxins, microplastics, microfibers and mercury. It also says that its products have the same texture and a similar flavour to conventional seafood.

Gathered Foods co-founder and CEO Chris Kerr said: “Consumer demand of trailblazing plant-based alternatives is nearly insatiable, and this trend is led by taste and availability. This next phase for Good Catch is laser-focused on meeting consumer desires with culinary applications across all channels.

“This round of investment emphasises the food industry’s recognition of our strategy, our reception by consumers, and anticipation for more innovation to come.”

Last week, US-based Impossible Foods launched its new plant-based sausage and plant-based pork products in the US.