Food and Beverage Business

Ripple Foods secures new funding

Ripple Foods secures new funding dairy alternatives Food and Beverage Business

Ripple Foods, a US-based producer of alternatives to dairy products, has secured an impressive $49.2m in its most recent funding round, building on previous funding successes. The latest investment comes as competition in the plant-based milk market grows, despite a broader category slowdown.

The company’s success has been driven by a unique selling point – its proprietary trademarked pea protein, Ripptein, used across the brand’s portfolio of products including pea milk and protein shakes. According to Ripple Foods, this protein extraction method eliminates undesirable tastes, such as those associated with flavonoids and tannins.

Evidently, the company has seen remarkable growth in the kids’ product line, particularly with the Ripple Kids Original Milk, which has become one of the fastest-growing products in the refrigerated plant-based milk category. Sales have exceeded expectations, prompting significant distribution expansion.

However, not all product innovations have yielded the same level of success, as seen with the company’s initial attempt at producing Greek-style, dairy-free yogurts, which encountered challenges with scalability and consumer preferences.

Despite this new round of funding, no official comments have been made by the company, with the only information disclosed being an SEC filing that shows Ripple Foods offering a mix of equity, debt, and options worth $55.4m.

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This success comes at a critical time in the food and beverage industry, with ongoing shifts in consumer trends and business dynamics.

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