Gathered Foods, a US-based producer of plant-based seafood alternatives, collected $26.4m yesterday in a series B2 bridge round featuring agricultural and food processing conglomerate Louis Dreyfus Company.
Meat alternative-focused investment firm Unovis Asset Management also participated in the round alongside venture capital firm Big Idea Ventures and unspecified additional investors.
Founded in 2016, Gathered sells plant-based seafood products under the Good Catch brand. It closed its series B round at $36.8m, after Stray Dog Capital and Rocana Ventures co-led a $32m tranche in January 2020.
The 2020 round included 301, the corporate venturing arm of packaged food producer General Mills, as well as plant-based food maker Greenleaf Foods, Almanac Investments, CPT Capital and New Crop Capital. The company had completed a $10m convertible note round co-led by Stray Dog Capital and New Crop Capital in mid-2019.
New Crop Capital led Gathered’s $8.7m series A round in 2018, investing with poultry product provider PHW Group, grocery retailer Thrive Market, food supplier Fresh Direct, Stray Dog Capital, Clear Current Capital, VegInvest, Rocana Capital, Blue Horizon, EverHope Capital, Baleine & Bjorn Capital, M13 and Starlight Ventures.