The maker of plant-based seafood products Good Catch has raised $26.35 million in a Series B bridge funding round
Gathered Foods, makers of Good Catch plant-based seafood, announced that the company has successfully secured an impressive $26.35 million in a B-2 bridge funding round with investments from Louis Dreyfus Company (LDC), Unovis Asset Management, Big Idea Ventures, and others.
Gathered Foods will use this new round of funding to ramp up product innovation and dramatically increase the number of Good Catch products on the market. The company also plans to extend its international retail footprint, beginning in Europe, with further expansion planned for later in 2021.
This investment comes after last year’s Series B round, in which the company secured $36.8 million. The financing allowed the brand to continue on its path towards expansion and production, leading to the opening of its plant-based production facility in Heath, Ohio.
“We are excited to have this important investment by LDC, a well-respected leader in the agricultural, food and ingredients space, to help fuel growth and expansion of our Company,” said Christine Mei, chief executive of Gathered Foods.
“Partnering with proven companies who are innovators in their own right can only sharpen our ability to positively disrupt a nascent industry with our innovative portfolio of Good Catch products. As demand for plant-based seafood continues to rise, we look forward to further collaboration with LDC to create breakthrough opportunities.”
Good Catch products are currently available across the US, and in the UK through a partnership with Tesco. The brand is sold in Canada last year through partnerships with Loblaws and Sobeys, and in Europe through retailers in the Netherlands and Spain.
Gathered Foods said talks are under way with key European distributors to bring its Good Catch products to more consumers globally, through strategic retail and foodservice partnerships.
“Gathered Foods combines leading-edge R&D and state-of-the-art manufacturing capabilities and strong management to deliver delicious plant-based products to a global market,” said Max Clegg, head of LDC’s corporate venture capital program, LDC Innovations. “We are thrilled to partner with the company, as it expands the reach of its Good Catch brand and attracts new customers to this fast-growing sector.”
Date published: 7 April 2021