Vegan seafood brand Good Catch Foods announced this week that it raised $8.7 million to advance its mission to save collapsing fish populations with its fish-free seafood alternatives. “Today, while navigating the quest for clean protein and nutrition, consumers are faced with a minefield of choices and tradeoffs,” Good Catch co-founder Marci Zaroff said. “Good Catch is committed to solving the problem with innovative ingredients and delicious novel products that serve and satisfy consumers globally—no exploitation required.” Good Catch is a collaborative effort between venture capital firm New Crop Capital, branding agency BeyondBrands, and vegan chefs (and brothers) Chad and Derek Sarno who created its flagship products which include vegan shelf-stable tuna, fish-free burgers, and plant-based crab cakes. The current investment round included funding from retailers Thrive Market and Fresh Direct, and PWH Group, the largest producer of poultry in Europe. “The equity investment in Good Catch is evidence of our forward-thinking strategy,” PHW Group CEO Paul Wesjohann said. “Good Catch is consistent with our pursuit to provide the United States with sustainable, clean foods. We do not see this transaction as a financial investment but rather as the beginning of a long-term strategic partnership.” Last month, PHW Group created an investment arm dedicated to diversifying its portfolio with “alternative sources of protein,” including plant-based and clean-meat holdings. The company participated in an investment round for Israel-based clean-meat company SuperMeat and partnered with Beyond Meat to help distribute its vegan products through PHW Group’s European networks.
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