Plant-based dairy alternative specialist Ripple Foods announced a USD60m Series E funding round led by Rage Capital, Ajax Strategies, and S2G Ventures, as well as additional key investors including OurCrowd, GV, Prelude Ventures, Euclidean, Fall Line Capital, and Tao Capital Partners.
According to current industry reports, SPINS and Nielsen show unprecedented growth in the dairy alternative market with Ripple (+20%) outpacing the category (+6%) by 3x, a strong indication that Ripple’s protein-packed products are preferred by consumers. Touting the highest loyalty in the plant-based milk category, the brand has seen its new innovation, Ripple Kids, achieve tremendous success as the number one new product in the category at retailers including Whole Foods Market and Target, a company statement reads.
“Ripple’s growth is outpacing the category by 3x, and we are well-positioned to further accelerate that growth,” said Laura Flanagan, CEO of Ripple Foods. “This capital raise will enable us to accelerate innovation and growth across product categories, and expand into new channels and global markets. It allows us to further achieve our mission of making plant-based foods that are better for people, and better for the planet, on an even larger scale.”