General Mills’ venture arm 301 INC has invested in Gathered Foods, the makers of a line of plant-based frozen seafood products called Good Catch.
New York-based Good Catch raised USD31m in an oversubscribed Series B funding round, which also included investment from another industry investor Greenleaf Foods.
Good Catch’s round was led by Stray Dog Capital and Rocana Ventures, and also included investment from Almanac Investments, CPC Capital and New Crop Capital.
Founded in 2015, Minneapolis-based 301 INC collaborates with and invests in emerging food brands. In addition to Good Catch, it has also backed No Cow and Beyond Meat, two other food brands producing plant-based products.
“When we met the Good Catch team, we were immediately captivated with their mission to develop more sustainable plant-based seafood products that taste as traditional as traditional seafood. Good Catch stands out as a strong, expandable brand with passionate leadership, and we’re excited to partner to grow,” said John Haugen, managing director of 301 INC.
Good Catch’s portfolio includes plant-based tuna options which are said to replicate the experience of real seafood thanks to legumes and algae oil.