Eclipse Foods Raises Over $40 Million in Series B to Transform the Dairy Industry
Led by Sozo Ventures, the funding round will support Eclipse's explosive growth, efforts to scale their plant-based dairy platform, and more.
OAKLAND, Calif., June 28, 2022 /PRNewswire/ -- Eclipse Foods, the leader in sustainable, plant-based dairy products that are indistinguishable from conventional dairy, announces a Series B funding round of over $40 million led by Sozo Ventures with participation from leading funds, including Forerunner Ventures, Initialized Capital, Gaingels, and KBW Ventures. With the latest round of funding, Eclipse has raised over $60 million to date with investors including Seth Goldman, the Chairman of Beyond Meat and Founder of Honest Tea; Alexis Ohanian, the Founder of Reddit; Prince Khaled bin Alwaleed, green tech venture capitalist; and Y Combinator, the world's top tech accelerator. The new funding will fuel the rapid growth of the business in retail and food service, accelerate R&D on Eclipse's proprietary plant-based dairy platform, build the brand's world-class team, and drive awareness for Eclipse as the world's first true dairy replacement.
"The number one reason consumers avoid plant-based dairy is taste. As self-proclaimed ice cream lovers, our team at Sozo Ventures recognized that Eclipse's ice cream is in a league of its own after just one bite," said Bob Roe, Vice President of Narrative Development at Sozo Ventures. "70% of the world's population is lactose intolerant and with the alternative protein space projected to grow to $1.4 trillion by 2050, Eclipse is positioned to completely transform the dairy industry with its proprietary plant-based dairy platform."
The Oakland-based brand was co-founded in 2019 by James Beard-nominated chef, Thomas Bowman, and alternative protein expert, Aylon Steinhart, with the mission to create a more sustainable, healthy and humane food system. Since then, Eclipse has scaled faster and more efficiently than competitors in the space, thanks to its plant-based dairy platform which uses a blend of non-GMO plants, including cassava, corn, and potato, to create virtually any plant-based dairy product, from cheeses to spreads to desserts, that replicate the taste, texture and functionality of traditional dairy.
"With 10 billion people to feed by 2050, we recognized that global diets must change," said Aylon Steinhart, Co-founder and Chief Executive Officer of Eclipse Foods. "Consumers want more than just a dairy alternative like almond milk—they want a true replacement. Our plant-based dairy platform uses micelles (the microscopic magic of milk) to create the replacement products that consumers have been craving, and our growth over the last three years is a testament to that."
Year over year, Eclipse has grown its retail presence by 2100%, with Whole Foods Market, Albertsons, Vons, GoPuff and many other retailers stocking its pints. The brand is also dramatically expanding its food service partnerships, working with restaurants, burger chains, ice cream shops, stadiums, and more. Eclipse most recently announced its partnership with Smashburger, launching the first nationally available non-dairy milkshakes at a fast-casual restaurant chain and the first plant-based menu item for the restaurant. To learn more about Eclipse and stay informed about the brand's latest news, innovations, and more, please visit eclipsefoods.com and follow along on social at @eclipsefoods.
Eclipse Foods is the leader in plant-based dairy products that are indistinguishable from conventional dairy. In 2019, Co-founders Aylon Steinhart and Thomas Bowman launched Eclipse with a mission to create plant-based dairy products that require no sacrifice on taste, texture or functionality for the consumer. Aylon, an alternative protein expert coming from the Good Food Institute, where he incubated dozens of startups, and advised investors and strategic partners on the alternative protein space, worked with Thomas, a world-renowned food scientist who has worked in and staged at a total of 16 Michelin stars and is a James Beard nominated chef, to create Eclipse's proprietary dairy platform, which replicates micelles (the magic of dairy milk) from plants to create plant-based dairy products. Eclipse's plant-based platform is free from all top allergens such as gluten, soy, coconut, nuts, and is non-GMO and free from gums and stabilizers. Eclipse's ice cream is available as soft serve, ice cream mix, foodservice tubs, and in pint flavors including Cookie Butter, Caramel Butter Pecan, Dark Side of the Spoon, Mango Passion Fruit, Vintage Vanilla and Mint Chip.
Eclipse is available direct-to-consumer at GoPuff, Good Eggs, Gorillas, and more and in retailers nationwide including in select Whole Foods Market, Albertsons, Vons, Pavilions, Central Market, Nugget, Harmon's, among other regional retailers. Eclipse is also available in many food service locations including Smashburger, Afters Ice Cream, the LA Dodger Stadium, Mel's Original, Silver Diner, and more. For more information, visit www.eclipsefoods.com and follow along on social at @eclipsefoods.
Media Contact: Power Digital, [email protected]
SOURCE Eclipse Foods
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