Ripple Foods racks up $65 mln Series C


Ripple Foods, a maker of nutritious plant-based dairy alternatives, has secured $65 million in Series C funding. Euclidean Capital led the round with participation from other investors that included Goldman Sachs, Fall Line Capital, GV, Prelude Ventures, S2G Ventures and Khosla Ventures.

PRESS RELEASE

BERKELEY, CALIFORNIA – January 29, 2018 – Ripple Foods announced today a $65 million Series C round led by Euclidean Capital, with participation from Goldman Sachs, Fall Line Capital, and existing investors including GV, Prelude Ventures, S2G Ventures, and Khosla Ventures. This round follows successful Series A and Series B funding rounds and brings Ripple Foods’ total funding to date to $110 million.

Founded in 2014, Ripple Foods is on a mission to provide better food for a changing world. Ripple’s intellectual property focuses on processes and ingredients that allow the company to more closely replicate animal-derived foods with plant-based ingredients. Powered by Ripptein, Ripple Foods’ proprietary plant protein and the purest plant protein on earth, Ripple Foods makes dairy-free foods the way they should be: a good source of protein, lower in sugar, and delicious.

“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 the Consumer, Retail and Healthcare Groups in the Investment Banking Division of Goldman Sachs. “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.”

“The world wants better food. Right now, food has too many confusing rules, and the food industry happily sells us unhealthy, processed food that have 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,” said Dr. Neil Renninger, Co-Founder and Co-CEO, Ripple Foods. “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.”

Ripple Foods first launched in April 2016 with its first product, Ripple Milk, and has since rapidly expanded its product availability and offerings. The following year, Ripple introduced a shelf-stable 8 oz Kid’s Pack, providing a nut and allergen-free option for kids at home and at school. In July 2017, Ripple launched its Half & Half, providing customers a healthy plant-based half & half free of both cholesterol and saturated fats, and expanded availability of its milk internationally – launching in Canadian retailers from coast-to-coast. Most recently, Ripple Foods introduced a non-dairy Greek Yogurt that boasts a full 12 grams of protein per serving. Ripple Foods products are readily available throughout the U.S. and Canada in over 10,000 locations such as Kroger, Whole Foods, Target, and other regional retailers and grocers. In less than two years after launch, Ripple consumers are helping to offset over 2.5 million pounds of carbon and save over 6 million gallons of water each month versus dairy milk.

For more information about Ripple Foods, please visit www.RippleFoods.com.

ABOUT RIPPLE
Dairy free. As it should be. Ripple Foods creates nutritious plant-based dairy alternatives that are high in protein, low in sugar, and delicious. Ripple Foods products are 100% natural and vegan – free of soy, lactose, dairy, gluten, GMOs, and carrageenans – and are produced using 96% less water than dairy, nut, and soy alternatives.

For more information visit: www.ripplefoods.com and join the plant-based conversation with @ripplefoods on Twitter, Facebook, and Instagram.

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