THE DIGEST
- Plant-based cheese maker Grounded Foods closes a $1.74M Seed round led by Stray Dog Capital
- The startup based out of California makes plant-based cheese, with two main ingredients -fermented cauliflower and hemp seed–making their cheeses free from nuts, soy, gluten and GMOs.
- The company also utilizes ‘imperfect vegetables’ to create products that are lower cost, nutrient rich, and more environmentally sustainable to manufacture
- Stray Dog Capital is an impact fund that aims for top tier returns via investments in startups that have a positive impact on people and the planet; other notable investments include companies such as Beyond Meat, Miyoko’s Kitchen, and Meatless Farms.
California (July 13, 2020) : Stray Dog Capital, a venture capital fund that specializes in backing plant-based startups, today announced that it is the lead investor in the Series Seed round for Grounded Foods. This round of investment totals $1.74M and includes other investors such as Rocana Ventures, Veg Invest Trust and members of the GlassWall Syndicate.
Stray Dog Capital is an impact fund that aims for top tier returns via investments in startups that have a positive impact on people and the planet; Grounded is the latest addition to the Fund’s portfolio of over 30 investments, which include companies such as Beyond Meat, Miyoko’s Kitchen, and Meatless Farms.
According to SPINs data and the Good Food Institute, plant-based foods grew 5 times faster than total food sales in the past year and plant-based cheese was one of the fastest-growing categories with 18% year on year growth.
Grounded has created a range of delicious, premium, plant-based cheeses that are free from dairy, nuts, soy, gluten or GMOs. The company uses fermented cauliflower and hemp seeds to create cheeses that are not only delicious but low cost, scalable, and nutrient-dense. They are simply better for the environment and better for our bodies.
Grounded Foods is led by Australian duo Veronica Fil, a former behavioral economist, and Shaun Quade, an award-winning restaurateur and Australian Chef of the Year in 2017. “We are always looking for extraordinary players in the plant-based cheese category, and Grounded’s product and team exceeded our expectations in taste, creativity and strategy,” said Johnny Ream, Principal from Stray Dog Capital.
Since 2014, Stray Dog Capital has been investing in early-stage startups and companies that are driving healthier, humane, and more sustainable outcomes predominantly around the plant-based and cultivated meat categories. “There’s an enormous shift happening all over the world right now, as we re-examine our eating habits and uncover deep inefficiencies in the food supply chain” said Fil. “As a business founder, I want to be part of the solution. That’s why we’re delighted to partner with Stray Dog Capital, and an incredible mix of forward-thinking investors, and join them in their mission to build a more ethical and sustainable food system.”
About Stray Dog Capital Stray Dog Capital is a venture capital fund investing in innovative, early stage companies across the food, beverage, and biotechnology sectors that are driving a healthier, humane, and more sustainable future. Stray Dog Capital supports its portfolio of investments with broad experience from its team as entrepreneurs, operators, advisors, and investors. www.straydogcapital.com
About Grounded Foods Grounded Foods makes plant based cheese for people who simply enjoy tasty food. The unique products are based on two of nature’s superfoods–fermented cauliflower and hemp seed–and are free from nuts, soy, gluten and GMOs. The company utilizes ‘imperfect vegetables’ (the cauliflowers that are not pretty enough for supermarkets) to create products that are lower cost, nutrient rich, and more environmentally sustainable to manufacture–and in turn, make plant based cheese more accessible to consumers than ever before.