Greenleaf Foods and 301 INC, the venture arm of General Mills, are among the investors in a recent funding round in Gathered Foods, makers of plant-based seafood products Good Catch.
Proceeds from the $32 million Series B funding round will be used to significantly expand Gathered Foods’ distribution across North America, Europe and into Asia.
It will also fund the opening of the company’s state-of-the-art manufacturing facility, as well as new product and food service channel launches later this year.
Valued at $4.5 billion, the US plant-based foods retail market grew five times faster than the total U.S. retail food sales over the past year.
“Consumer demand of trailblazing plant-based alternatives is nearly insatiable, and this trend is led by taste and availability,” said Chris Kerr, CEO and co-founder of Gathered Foods.
“This next phase for Good Catch is laser focused on meeting consumer desires with culinary applications across all channels.
“This round of investment emphasizes the food industry’s recognition of our strategy, our reception by consumers, and anticipation for more innovation to come.”
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.