In a strategic collaboration, District Ventures Capital and BDC Capital have jointly invested $10,000,000 in the innovative Canadian supplement company, Outcast Foods. Established in 2017 by Dr. Darren Burke and former NHL forward TJ Galiardi, the company has garnered attention for its unique approach to supplements and garnered support from notable investors.
District Ventures, helmed by Dragon’s Den star Arlene Dickinson, is backing Outcast Foods, recognizing its potential in the supplement industry. Dr. Darren Burke, Outcast Foods’ Co-Founder and CEO, brings a wealth of experience to the table, having previously worked at the MuscleTech Research Institute and served as the head of research for diet pill companies Slimquick and NV. He was also the founder of Rivalus, which was later acquired by the Costello family, former owners of Optimum Nutrition.
Outcast Foods has carved a niche in the supplement market with its ‘Plant-Strong’ recycled protein powders and dietary supplements. The company employs a distinctive food recycling technology, utilizing rejected, surplus, or past-date fruits and vegetables sourced from local farms, food processors, and grocers. This approach not only addresses the issue of food waste but also contributes to sustainable food production.
Arlene Dickinson, General Partner of District Ventures Capital, expressed enthusiasm for supporting a company that tackles food waste while pioneering sustainable plant-based technology. Dr. Burke explained the company’s mission, stating, “We saw the giant issue of food waste as an opportunity to create a new category in the growing supplement industry.”
Outcast Foods collaborates with various industries, supplying its plant-based ingredients to cosmetic, agriculture, and pet food manufacturers. The company has positioned itself as a pioneer in the recycled food category, partnering with multiple grocers, manufacturers, and farmers across Canada, handling an average of one million pounds of daily food waste.
Cheri Corbett, Director of Cleantech Practice at BDC Capital, emphasized the positive environmental impact of ventures like Outcast Foods. She stated, “Creative entrepreneurs like Dr. Burke and TJ Galiardi who are having such a positive environmental impact are so important.”
Outcast Foods is recognized for creating a win-win scenario in the supply chain. Retailers benefit from reduced costs associated with unsold produce, contributing to a reduction in carbon footprint. Customers, in turn, enjoy delicious and sustainable products. Co-Founder TJ Galiardi expressed excitement about scaling operations with the support of new partners.
According to the Food and Agriculture Organization of the United Nations, nearly one-third of food globally is wasted or lost, leading to higher greenhouse gas emissions. Outcast Foods’ commitment to addressing this issue aligns with the growing global awareness of sustainable and environmentally friendly practices.
Currently operating from its facility in Dartmouth, N.S., Outcast Foods has ambitious plans to scale significantly in the coming year, further establishing itself as a leader in sustainable supplements.