AAA Ripple makes a splash with $30m

Ripple makes a splash with $30m

GV, the corporate venturing arm of internet and technology group Alphabet, has led a $30m series B round for Ripple Foods, the US-based developer of a vegan dairy substitute, the Wall Street Journal has reported.

Founded in 2014, Ripple is working on a plant-based dairy substitute it claims has eight times the level of protein of almond milk and 50% more calcium than ordinary milk.

The basis of Ripple’s product is yellow peas that are grown in France, and it plans to expand into yoghurts, cheeses, creamers and milkshake products in future.

The company previously raised $13.6m in its December 2015 series A round featuring venture capital firms Khosla Ventures and Eagle Cliff Partners, as well as angel investors Seth Goldman and Gary Hirshberg.

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