Vegan seafood brand Good Catch Foods, through its parent company Gathered Foods, recently closed a $10 million convertible note investment round led by mission-driven investment firms New Crop Capital and Stray Dog Capital. According to Forbes, Gathered Foods—which raised $9.2 million in previous rounds—was unable to allow new investors into its current round as its existing investors had first bid on the round and were fully committed to further funding the vegan brand. “We’re grateful to have partners in the plant-based foods sector who operate from a place of such confidence in our mission and we’re incredibly confident about the future of plant-based protein,” Good Catch co-founder and CEO Chris Kerr said. The company will use its funding to open a $20 million production facility in Ohio this year where it plans to produce $100 million worth of plant-based protein annually, including its own vegan seafood and other types of plant-based meat. Gathered Foods will also work to help other vegan companies meet production demand for plant-based meat. In February, Good Catch debuted its vegan tuna pouches—in Mediterranean, Naked in Water, and Oil & Herbs flavors—exclusively at Whole Foods Markets and online at Thrive Market, and the brand is now expanding distribution to other retailers nationwide.
Subscribe now to the world’s #1