Ripple Foods Raises $65 Million

Ripple Foods, a  beverage company that makes a milk-like drink from yellow peas has raised $65 Million in series C funding.

The investment, which was led by Euclidean Capital, includes funding from Khosla Ventures, Goldman Sach, Fall Line Capital and S2G Ventures, a food and agriculture investment firm started by OpenTable Inc.’s founder. It’s Ripple’s largest capital infusion and brings the two-year-old company’s total funding to $110 million.

“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.”

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 first launched in April 2016 with its first product, Ripple Milk, and has since rapidly expanded its product availability and offerings.

 Ripple has sold the investors on its Ripptein, pea protein that has been extracted from the vegetable by a process that the company says strips out the funky flavor often found in plant materials. The result is almost purely protein, say Ripple’s founders Neil Renninger and Adam Lowry.
 
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