Gathered Foods, producer of Good Catch vegan seafood alternatives, has announced that it has closed a $10 million convertible note round co-led by New Crop Capital and Stray Dog Capital in order to fund a new production plant for the scaling of its plant-based tuna.
According to The Spoon, Gathered Foods is presently developing the $20 million manufacturing facility in Ohio for the production of plant-based proteins, with the aim of completing the building by the end of this year. The facility should enable the company to supply the predicted demand for the plant-based products, in contrast to other vegan meat producers who have fallen short in terms of production capacities due to unforeseen demand.
Good Catch tuna comes in 3.3-ounce pouches in three flavors containing 14 grams of protein for a RRP of $4.99. Gathered Food will also produce further seafood innovations at the Ohio facility, which reportedly include vegan “crab” cakes and fish-free “whitefish” burgers, to launch in spring next year.
Chris Kerr, Co-Founder and CEO of Gathered Foods said: “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.”