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KBW Ventures Invests $ 40 Million in Series B Round in Eclipse Foods

Oakland — Eclipse Foods, a leader in sustainable plant-based dairy products that are indistinguishable from traditional dairy products, has $ 40 million led by Sozo Ventures with the participation of major funds such as Forerunner Ventures, Initialized Capital and Gaingels. Announcing a Series B funding round that goes beyond. And KBW Ventures.

With the latest funding, Eclipse has raised more than $ 60 million to date with investors, including Beyond Meat Chairman and Founder of Honest Tea, Seth Goldman. Alexis Ohanian, Founder of Reddit; Prince Karido bin Al Waleed, Green Tech Venture Capitalist. And Y Combinator, the world’s top high-tech accelerator.

The new funding will accelerate the rapid growth of businesses in retail and food services, accelerate the research and development of Eclipse’s unique plant-based dairy platform, build a world-class team for the brand, and create the world’s first true milk. Increase awareness of Eclipse as a product alternative.

“Taste is the number one reason consumers avoid plant-based dairy products. As self-proclaimed ice cream lovers, our team at Sozo Ventures recognizes that Eclipse ice cream is in its own league with just one bite. We did, “said Bob Roe, Vice President of Narrative Development at Sozo Ventures.

“70% of the world’s population is lactose intolerant, and the alternative protein space is projected to grow to $ 1.4 trillion by 2050, making Eclipse a complete dairy industry with its own plant-based dairy platform. We are in a position to change. “

The Auckland-based brand was created by James Beard-nominated chef Thomas Bowman and alternative protein expert Ironstein Hart on a mission to create a more sustainable, healthy and humane food system. Co-founded in 2019.

Since then, Eclipse has been a competitor in this field, thanks to a plant-based dairy platform that uses blends of non-GMO plants such as cassava, corn, and potatoes to create virtually any plant-based dairy product. It has expanded faster and more efficiently than. From cheese to spreads to desserts, products that reproduce the taste, texture and functionality of traditional dairy products.

Aylon Steinhart, Co-Founder and Chief Executive Officer of Eclipse Foods, said: “Consumers want more than just a dairy alternative like almond milk. They want a true alternative. Our plant-based dairy platform is micelles. We are using (the microscopic magic of milk) to create the alternative products that consumers are anxious for. Our growth over the last three years is proof of that. “

Eclipse has grown its retail presence by 2100% each year as Whole Foods Market, Albertsons, Vons, Gopuff and many other retailers source pints. The brand is also working with restaurants, burger chains, ice cream shops, stadiums and more to dramatically expand its food service partnership. Eclipse recently announced a partnership with Smashburger to launch the first non-dairy milkshakes available nationwide in the fast casual restaurant chain and the restaurant’s first plant-based menu item.

https://saudigazette.com.sa/article/622387/BUSINESS/KBW-Ventures-invests-in-Eclipse-Foods-$40-million-series-B-round?ref=rss&format=simple&link=link KBW Ventures Invests $ 40 Million in Series B Round in Eclipse Foods

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