Good Catch, New York, announced the closing of an $8.7 million Series A funding round led by New Crop Capital, Washington, D.C., and a syndicate of investors, including PHW Group, European food manufacturer; Thrive Market, Los Angeles; and FreshDirect, New York; strategic private investors and entrepreneurs with global reach; and mission-aligned impact partners, including Stray Dog Capital, Kansas City, Mo.; Clear Current Capital, Charlotte, N.C.; VegInvest, Washington, D.C.; Rocana Capital, San Francisco; Blue Horizon, Coconut Creek, Fla.; EverHope Capital, Providence, R.I.; Baleine & Bjorn Capital, New York; M13, Los Angeles; and Starlight Ventures, Rex, Ga.
"The relentless and indiscriminate killing of marine life is devastating ocean ecosystems," says Chris Kerr and Eric Schnell, co-founders and co-CEOs of Good Catch. "The only truly sustainable seafood is seafood that allows fish to remain in the ocean. It is abundantly clear that we need a new approach to seafood. This is a global concern, and we need global stakeholders to put this approach into action; time is not on our side."
Founded by New Crop Capital, BeyondBrands, Costa Mesa, Calif., and with culinary innovation led by plant-based chefs Chad and Derek Sarno, the team aims to help solve the oceans' complex global issues with new sustainable food technology and marine welfare.
"The Good Catch team has built a truly world-class, plant-based protein, an area where we're seeing massive growth and demand. We're incredibly excited to help bring Good Catch to market in 2018 and proud to call them the third investment out of Thrive Market Ventures," says Nick Green, co-founder and co-CEO of Thrive Market.
"Today, while navigating the quest for clean protein and nutrition, consumers are faced with a minefield of choices and tradeoffs," says Marci Zaroff, co-founder of Good Catch. "Good Catch is committed to solving the problem with innovative ingredients and delicious novel products that serve and satisfy consumers globally – no exploitation required."