Skip to comments.Good Catch Foods Reels In $8.7 Million for Plant-Based Seafood
Posted on 08/11/2018 2:17:47 PM PDT by 2ndDivisionVet
Good Catch Foods, the Pennsylvania-based startup which makes seafood out of plants, closed an $8.7 million Series A funding round yesterday. This ups their Series A from the $5.5 million the company announced in April. The round was led by New Crop Capital with participation from Stray Dog Capital, the PHW Group, Blue Horizon, and others.
Founded in 2016, Good Catch Foods is developing plant-based alternatives to shredded tuna, crab cakes, and fish patties. Theyre aiming to bring their fish-free tuna, which comes in three flavors and has roughly half the protein of real tuna, to market by 2019.
According to the U.N., around 90% of the worlds stocks are currently fully or overfished and our demand for fresh seafood continues to grow. Some companies are tackling this by ensuring they only source sustainable fish and shellfish or raising farmed fish with low environmental impact. Despite these efforts, the fact remains that seafood is a finite resource. Which makes the work of companies like Good Catch Foods, who hope to sate our seafood craving using plants, all the more important.
The alterna-seafood market, which is developing more slowly than its meaty counterparts, has recently experienced some serious growth. Wild Type raised $3.5 million a few months ago for their lab-grown salmon, followed a few months later by an identical fundraise from Finless Foods, a startup developing cultured bluefin tuna. And just a few weeks ago, Terramino Foods raised $4.25 million for its salmon burger made out of fungi.
Interestingly, this isnt the first investment in meat alternatives for the PHW Group, which is one of Europes largest poultry producers. They recently invested in cultured meat company Mosa Meats, and also partnered with SuperMeat, an Israeli company developing lab-grown chicken.
This is in line with the idea that Tom Mastrobuoni, the CFO of Tyson Ventures, put forth at the Smart Kitchen Summit Europe: for Big Food companies, the smart move is to invest in their own disruptors. Which explains why Tyson Foods, which produces one in five pounds of protein consumed in the U.S., has invested in both plant-based and cultured meat companies. (P.S. If you want to hear more about food tech investment trends, see Tom speak at the Smart Kitchen Summit in Seattle this October.)
fish-free tuna? huh?
StarKist now sells pouches of “chicken of the sea” chicken..
what’s the chicken made of?
Decades ago, on The Tonight Show With Johnny Carson, a very young Jerry Seinfeld was talking about seeing “luncheon meat” in the cold cut section of the grocery store. He opined that “people are inventing new meat”. I thought it was funny. Now it’s true.
To think of all the marvelous ways they’re using plastics nowadays.
What are the odds on proper labelling being required so consumers know if they’re buying meat, fish or plastic $#!+?
a plant is not a fish.
Instead of seafood will it be known as seaplant?
The next generation will be very confused. They already think that milk comes from a carton.
First bumblebees make tuna.
Now plants make tuna.
What plants? kids will refuse to mow the lawns for fear of beheading tunas.
The tuna doesn’t taste as good as it used to.
We need Weemsco tuna.
Stray Dog Capital
Didn’t they fund a Chinese food startup?
Wok Your Dog.
The tuna doesnt taste as good as it used to.
Ever since they took the Dolphin out of it!!
I eat seafood at least 5 days a week.
This is good. The greenies will eat the fake seafood and help the planet, leaving more real seafood for me.
S. Korea to begins sales of farmed bluefin tuna
Local Atlantic Salmon farm is the first of its kind in the U.S.
Mrs NHD took a pasta TV dinner out of the freezer for a quick supper. Looked closely at the packaging- said it contained meatless meatballs. That was a surprise. She said they tasted like gelled slime.
Better living through modern chemistry.
Sea monkeys ?
“Founded in 2016, Good Catch Foods is developing plant-based alternatives to shredded tuna, crab cakes, and fish patties. “
I like seaweed properly prepared and wrapped around real fish that is raw and or marinated. I have zero desire to the above cuisine.
If you really like the best ceviche one can have it is on the beach front in Miraflores in Lima, Peru. It is most reasonable in price also.
My main CNA in the nursing home was from Lima, Peru. She went on-and-on about the seafood.
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