New Capital Boosts Mosaic Foods' Plant-Based Frozen Meals

Mosaic Foods Secures $6 Million in Seed Funding

Mosaic Foods, a company specializing in plant-based cuisine, revealed on Tuesday that it has received $6 million in seed funding. This investment will facilitate the continued development of its product offerings.

Established in 2019, the New York-based enterprise was co-founded by Matt Davis and Sam McIntire. It quickly gained recognition for its range of frozen vegetable bowls, featuring recipes such as peanut tofu and butternut squash with sage pasta.

Founders' Background and Motivation

Before launching Mosaic Foods, both Davis, currently serving as CEO, and McIntire, the CRO, collaborated at Bain & Co. They identified a significant challenge in adopting a plant-based diet: the effort required to discover appealing, flavorful meals that could rival meat-based options.

The core philosophy driving Mosaic Foods centers on the belief that increased plant consumption and reduced meat intake are beneficial for all. However, a common barrier they encountered was the perception of plant-based meals lacking in taste.

“Our goal is to eliminate the taste barrier to plant-rich eating, creating dishes people genuinely anticipate,” explained McIntire in a statement to TechCrunch. “When plant-based food is truly delicious, it can have a substantial positive impact.”

Davis further elaborated, “We aim to make plant-based eating as convenient as ordering delivery. Our initial six recipes were developed in our own kitchens, reflecting our personal favorites.”

How Mosaic Foods Operates

The service functions through a meal plan subscription – customers can choose between eight or twelve meals, with the option to skip deliveries or cancel at any time.

A diverse selection of breakfast, lunch, and dinner choices are available. Orders arrive fast-frozen, ready for storage, and include simple preparation instructions, eliminating the need for chopping, cooking, or extensive cleanup. The average cost per serving is $4.99.

Growth and Expansion

Within two years of its inception, the company expanded its product line from six to fifty items. Revenue experienced a fifteen-fold increase, and a 16,000-square-foot kitchen was established in New Jersey. Shipping services were also extended to California.

Mosaic Foods broadened its offerings to include oat bowls, soups, and family-sized meals. Additionally, they launched Mosaic+, a premium collection of meals created in collaboration with renowned chefs and food personalities.

Investment Details

Gather Ventures spearheaded the seed funding round, with participation from Greycroft and Alleycorp. This latest investment brings the total funding secured by Mosaic Foods to approximately $10 million.

“We recognized the significant potential when we began working with Adam (Slutsky),” Davis stated. “This capital infusion will enable us to positively impact more lives at an accelerated pace.”

Gather Ventures and the Plant-Based Sector

Slutsky, the founder of Gather, previously held leadership positions at Moviefone, Mimeo.com, and Tough Mudder. He established Gather in 2019, focusing exclusively on investments in plant-based companies.

His interest in the sector stems from a personal experience – a heart disease diagnosis at age 42 prompted a dietary change. Slutsky adopts a highly involved investment approach, typically investing in around four companies annually.

“I firmly believe that consumer priorities are shifting from convenience to encompass health, environmental concerns, and ethical considerations,” he commented. “When a product can deliver on these fronts at an accessible price point, it’s a compelling opportunity, and Mosaic Foods exemplifies this.”

Current Reach and Future Plans

Currently, Mosaic Foods employs 40 individuals and serves approximately 50% of the United States, primarily along the eastern seaboard, with recent expansion into California. The company is projected to surpass 1 million meals sold by year-end.

The newly acquired funding will be allocated to team expansion, infrastructure investment – including continued operation of its own kitchens – and the introduction of new products. The co-founders anticipate expanding sales channels beyond direct-to-consumer within the next year.