NEWS IN BRIEF

Plant-based seafood brand Good Catch raises over $32m in Series B financing round

By Mary Ellen Shoup

- Last updated on GMT

Plant-based seafood brand Good Catch raises over $32m in Series B financing round

Related tags plant-based seafood Good Catch Funding

Gathered Foods, parent company to plant-based seafood brand Good Catch, has closed a series B funding round led by several industry players including Greenleaf Foods and 301 INC, the venture arm of General Mills.

Stray Dog Capital, Rocana Ventures, Almanac Investments, CPT Capital, and New Crop Capital also participated in the funding round with net proceeds from the investment totaling over $32m. The funds will be used for significant expansion in distribution across North America, Europe, and into Asia, and for the opening of its state-of-the-art manufacturing facility, as well as new product and food service channel launches in early 2020.

"The goal is to make Good Catch accessible and available for everyone,"​ said the company. 

GoodCatch_products

Valued at $4.5bn, the US plant-based foods retail market grew five times faster than the total US retail food sales over the past year, according to SPINS data provided by The Good Food Institute​. Good Catch​ products are now available in over 4,500 retail outlets across the US and will be launching in the UK in the coming weeks.

Good Catch fish-free products are made from a blend of six non-GMO plant proteins including chickpea, fava, soy, lentil, pea, and navy bean, with pea being its main source of protein. The company uses seaweed and algae extracts, compounds that fish naturally consume in the sea, to mimic the fishy, umami taste of seafood, and also provide the formulation with long-chain omega-3 fatty acids. 

"On the heels of widespread adoption of plant-based meat and increasing consumer concern about the environmental impacts of food production, the market is ripe for Good Catch's next-generation plant-based seafood,"​ commented Caroline Bushnell, associate director of corporate engagement at The Good Food Institute.

"Plant-based seafood provides a host of environmental benefits, including alleviating pressures on rapidly depleting fisheries, providing relief to fragile ocean ecosystems, reducing the impact of fishing nets on the ocean plastic problem, and reducing production-related GHG emissions."

According to the United Nations, nearly 90% of the world's marine fish stocks are now fully exploited, overexploited, or depleted, with fisheries subsidies playing an integral part.

"Keeping startling statistics such as this in mind, Good Catch believes that the only truly sustainable seafood is one that allows fish to remain in the ocean, undisturbed,"​ the company said. 

Related news

Show more

Related products

show more

Replacement Isn't the Future. Variety Is.

Replacement Isn't the Future. Variety Is.

Content provided by ADM | 22-Mar-2024 | White Paper

Successfully navigating the intersection of food and technology can help your business meet evolving consumer demands.

Consumer Attitudes on Ultra-Processed Foods Revealed

Consumer Attitudes on Ultra-Processed Foods Revealed

Content provided by Ayana Bio | 12-Jan-2024 | White Paper

Ayana Bio conducted the Ultra-Processed Food (UPF) Pulse survey, offering insight into consumers’ willingness to consume UPFs, as well as the variables...

Future Food-Tech San Francisco, March 21-22, 2024

Future Food-Tech San Francisco, March 21-22, 2024

Content provided by Rethink Events Ltd | 11-Jan-2024 | Event Programme

Future Food-Tech is the go-to meeting place for the food-tech industry to collaborate towards a healthier food system for people and planet.

Palate Predictions: Top Flavor Trends for 2024

Palate Predictions: Top Flavor Trends for 2024

Content provided by T. Hasegawa USA | 08-Jan-2024 | Application Note

As consumers seek increased value and experience from food and beverages, the industry relies on research to predict category trends. Studying trends that...

Related suppliers

Follow us

Products

View more

Webinars