Plant-based dairy company Eclipse Foods has announced a Series B funding round of more than $40 million led by Sozo Ventures.
Founded in 2019, Eclipse produces plant-based ice creams that are free from top allergens, such as gluten, soy, coconut and nuts, as well as from gums and stabilisers. The California-based brand’s products are available direct-to-consumer, through national and regional retailers, as well as from foodservice outlets.
Alongside Sozo Ventures, Eclipse’s latest funding round also received participation from investors including Forerunner Ventures, Initialized Capital, Gaingels and KBW Ventures.
The new funds will help fuel the growth of the business in retail and foodservice, accelerate R&D on Eclipse’s proprietary plant-based dairy platform, build brand awareness and support the expansion of the company’s team.
Eclipse says that its platform – which uses a blend of non-GMO plants, including cassava, corn and potato – can be used to create virtually any plant-based dairy product.
“The number one reason consumers avoid plant-based dairy is taste. As self-proclaimed ice cream lovers, our team at Sozo Ventures recognised 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.”
Aylon Steinhart, co-founder and CEO of Eclipse Foods, added: “With 10 billion people to feed by 2050, we recognised that global diets must change. 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.”
© FoodBev Media Ltd 2024
