The global frozen foods industry is expected to grow to $65B by 2024 with the growth largely driven by vegan foods. The pandemic caused meal delivery kits to boom in 2020 with consumers looking for healthy and convenient options at affordable prices during lockdown. Busy working professionals and young families are expected to maintain the demand as we enter a post-COVID era. Mosaic Foods is a plant-based frozen meal delivery service that’s looking to capitalize on this demand. Founded by two former management consultants working long hours that were looking to find healthy alternatives to takeout, the company offers a diverse line of products ranging from family meals, oat bowls, and soups. Each meal is shipped frozen and requires zero prep – no chopping, cooking, or cleanup. The company offers Mosaic+, which provides chef-crafted meals developed in partnership with New York’s top chefs and restaurants. Pricing for 12 meals comes out to $101.88 or about $8.50 per meal.
AlleyWatch caught up with Cofounders Matt Davis and Sam McIntire to learn more about the inspiration for the business, the company’s expanding product offering, the company’s latest funding, which brings the total funding raised to $10M, and much, much more.
Who were your investors and how much did you raise?
We raised a $6M seed round led by Gather Ventures with participation from Greycroft and Alleycorp.
Tell us about the product or service that Mosaic Foods offers.
We make healthy, delicious plant-based frozen meals and are on a mission to put good food on every table. By modernizing and humanizing the frozen food industry through fresh ingredients and real cooking, Mosaic is making plant-based eating easier, tastier, and more convenient for everyone.
What inspired the start of Mosaic Foods?
We met when we worked together at Bain & Co. We both were trying to improve our diets but quickly realized how much work it took to prepare the food and to find alternatives that didn’t leave us unsatisfied — or craving less healthy options like fast food or meat-heavy meals. We wanted to create a company that made plant-powered eating as convenient as takeout, so we set out to do just that. The first Mosaic meal iterations were cooked and frozen in our individual apartments based on meals that we loved to eat and cook. In the two years since our launch, we’ve grown our offerings from six meals to 50 products – expanding to include oat bowls, soups, and family meals.
Real ingredients, real cooking, and real impact. First, we work with top-quality ingredients sourced from local purveyors and distributors. Second, we hand-cook all of our meals with love, just like you would in your own home kitchen. Finally, we give back to our community — a portion of the sales from each box we sell goes to City Harvest, a local food rescue organization, to help them rescue food and donate it to community members in need.
What market does Mosaic Foods target and how big is it?
We’re going after the $50B+ frozen food industry. It’s a massive industry that’s been stigmatized quite a bit in the US, so we’re taking a refreshing new look at it with crave-able, plant-powered, hand-cooked meals that consumers absolutely love.
What’s your business model?
We offer 50+ vegan & vegetarian meal options. Mosaic customers subscribe on our website, build their box, and receive the food (delivered frozen) right on their doorstep. Each meal includes instructions for preparation with no grocery shopping, chopping, cooking, or cleaning needed.
What are your post-COVID office plans?
We love working together, and will likely be returning to the office (at least part-time!) post-COVID. That said, we’ve collaborated quite well together remotely throughout the pandemic, and will likely be more flexible with where we work moving forwards.
What was the funding process like?
We were lucky in that we’ve known our lead investor, Adam, for quite some time. He’s been a valued mentor and advisor to us for over a year now — so when it came time for us to raise this round, it was a perfect partnership.
What factors about your business led your investors to write the check?
Adam Slutsky, founder and partner of Gather Ventures, had been aware of Mosaic Foods since its inception. As someone who prioritizes plant-forward eating due to health, Adam had been impressed by our success, continued growth, and ability to create restaurant-grade meals that are frozen. We’re excited to have backing from Adam and Gather Ventures as we continue to grow and expand accessibility of plant-forward meals.
What are the milestones you plan to achieve in the next six months?
Mosaic is experiencing immense growth. Without giving too much away, look out for new product lines and distribution channels in 2022 and beyond!
Where do you see the company going now over the near term?
We’re continuing to grow and plan to use funds to build on our already established team, invest in infrastructure, which involves continuing to own and operate its own kitchens, and launch new products.
What’s your favorite outdoor dining restaurant in NYC?
Oooh, that’s a tough one! Hard to pick, but lately, we’ve been absolutely loving Ras Plant Based in Crown Heights. It’s got an amazing vibe and the food is absolutely out of this world.