Gathered Foods raises $26.35 million | 2021-04-07

Gathered Foods raises $26.35 million | 2021-04-07

AUSTIN, TEXAS — Gathered Meals, maker of Good Catch plant-based seafood solutions, raised $26.35 million in a B-2 bridge funding spherical with investments from Louis Dreyfus Co., Unovis Asset Management and Major Idea Ventures.

The firm will use the funding to ramp up product innovation and increase the variety of Great Catch merchandise on the sector. It also plans to develop its intercontinental retail footprint, starting in Europe, with additional expansion prepared for later in 2021.

“We are fired up to have this vital financial investment by Louis Dreyfus Co., a perfectly-highly regarded leader in the agricultural, meals and elements place, to support gasoline growth and enlargement of our organization,” mentioned Christine Mei, main executive officer of Collected Food items. “Partnering with established firms who are innovators in their own correct can only sharpen our potential to positively disrupt a nascent business with our innovative portfolio of Good Capture merchandise.”

Louis Dreyfus Co.’s expenditure in Collected Foods will produce alternatives for collaboration among the two organizations, reported Chris Kerr, co-founder and government chairman of Gathered Meals.

“Louis Dreyfus Co.’s world wide get to, source chain management, R&D capabilities and procurement know-how will be crucial to Gathered Foods’ means to broaden its world footprint and carry new setting up blocks to our expanding portfolio of choices,” Mr. Kerr claimed.

The expense will come on the heels of last year’s $36.8 million Collection B round, which authorized the manufacturer to open its plant-primarily based production facility in Heath, Ohio.  Last yr also saw Good Capture launch a line of frozen appetizers and entrees and enter into a distribution settlement with Bumble Bee Meals. 

The model delivers fish-free tuna formulated with a blend of peas, beans and lentils and algal oil, a plant resource of omega-3 fatty acids. Other goods contain plant-based mostly possibilities to fish burgers and cakes and crab cakes. The products and solutions at the moment are out there across the United States, in the United Kingdom by a partnership with Tesco, in Canada via a partnership with Loblaws and Sobeys, and in Europe throughout merchants in The Netherlands and Spain.

“Gathered Food items combines main edge R&D and point out-of-the-artwork manufacturing capabilities and robust administration, to supply mouth watering plant-based mostly products and solutions to a worldwide marketplace,” said Max Clegg, head of LDC Innovations, Louis Dreyfus Co.’s corporate enterprise money plan. “We are thrilled to companion with the company, as it expands the attain of its Good Catch brand and appeals to new consumers to this fast-expanding sector.”