MOSAIC FOODS TO EXPAND AS IT SECURES $6 MILLION FUNDING ROUND
A $6 million seed funding round has been announced by Mosaic Foods, a New York-based company that makes meat alternative frozen food meals.
Founded in 2019, the company says it has grown fifteen times since its first year and has recently begun selling in California, with plans to further expand its market.
The company produces plant-based soups, large-format family meals, oat bowls and vegetable bowls, and recently launched Mosaic+, which involves meals prepared by top New York chefs and restaurants.
In a statement, Matt Davis, Mosaic Foods’ co-founder and CEO, said the meals were aimed at people who wanted to eat healthily but had limited time.
“Over the last two years, we’ve brought innovative meals to market and scaled our business considerably,” he added.
“Today, we’re thrilled to welcome new financial partners into our mission and work together to create more delicious opportunities for consumers to embrace plant-based eating through frozen food.”
The €5.31 million seed funding round was led by Gather Ventures, with other investment from Greycroft and Alleycorp.
Funding will be used to expand the company’s direct-to-consumer business and will also help the company to grow into offline channels and launch new products.
“Mosaic Foods is a clear leader in the fast-growing, plant-based foods industry,” Adam Slutsky, founder and partner of Gather Ventures, said in the statement.
“I’ve been familiar with the brand since its launch in 2019 and am continually impressed with its approach to the market and growth.”
Investment has been flowing in to the plant-based foods sector, with Impossible Foods recently announcing a $500 million (€442.3 million) funding round, bringing total investments to close to $2 billion (€1.77 billion).