BERKELEY, CALIF. — Ripple Foods has secured $65 million in a Series C funding round led by Euclidean Capital with participation from other investors, including Goldman Sachs and S2G Ventures, which has invested in Kuli Kuli and Once Upon a Farm.
|Kathy Elsesser, global chair of Goldman Sachs’ Consumer, Retail and Healthcare Groups in the Investment Banking Division|
“Ripple Foods is at the helm of shaping the future of food and reinventing how we use plant proteins to make dairy alternatives,” said Kathy Elsesser, global chair of Goldman Sachs’ Consumer, Retail and Healthcare Groups in the Investment Banking Division. “We are proud to invest in a company that has created one of the fastest growing plant-based product lines and is changing the way people think about how plant-based foods should taste and impact our health.”
Founded in 2014, Ripple Foods makes plant-based dairy alternatives with pea protein. Products include pea milk, half and half and Greek yogurt alternatives that are vegan and free of soy, lactose, dairy, gluten, G.M.O.s and carrageenans. Ripple Foods products are available throughout the United States and Canada in locations including Kroger, Whole Foods Market and Target.
|Neil Renninger, Ph.D., co-founder and co-chief executive officer of Ripple Foods|
“The world wants better food,” said Neil Renninger, Ph.D., co-founder and co-chief executive officer of Ripple Foods. “Right now, food has too many confusing rules, and the food industry happily sells us unhealthy, processed food that has an immense toll on our environment. Big Food spends a miniscule amount on R.&D. trying to alleviate these problems. We’re here to change that. We are excited to partner with this set of like-minded investors to continue to bring our innovative products to scale and make living a healthy and sustainable life easier for everyone.”The $65 million funding round follows previous Series A and Series B funding rounds, bringing Ripple Foods’ total funding to date to $110 million. Other investors in the company include Fall Line Capital, GV, Prelude Ventures and Khosla Ventures.