Plant-based milk company, Ripple Foods, has secured an investment of $65 million from their latest capital funding round. Banking firm Goldman Sachs was one of the largest companies to participate in the funding round.
Ripple Foods, which creates plant-based milk from the protein collected from yellow peas, launched new vegan milk towards the end of 2017 and has further plans to launch a vegan ice cream in the near future.
“We are proud to invest in a company that has one of the fastest-growing plant-based product lines,” says Kathy Elsesser, the investment bank’s global chair of consumer retail and health-care groups.
The investment group has recognised the trend of customers wanting more plant-based foods more readily available and has noticed large success with other plant-based and clean meat companies.
Impossible Foods and Beyond Meat have both secured funding after gaining popularity for developing plant-based burgers which mimic the taste, texture and cooking process of meat.