Emeryville, Calif. – Ripple Foods, a company that makes high-protein, allergen-free plant-based milks, has raised $17 million in new funding. This round includes investments from Material Impact and Rich Products Ventures, along with support from existing investors like S2G Ventures, Prelude Ventures, Fall Line Capital, Euclidean Capital, Tao Capital Partners, and Tim Koogle.
Ripple’s milks and shakes offer up to 20 grams of plant-based protein per serving. They have 50% more calcium than dairy milk, with less sugar, fewer calories, and no common allergens such as nuts, soy, or lactose.
The company said the market for alternative protein ingredients is expected to grow from $23 billion in 2024 to more than double by 2030.
The new funding comes as Ripple announces Becky O'Grady as its new CEO. O'Grady, who has over 30 years of experience in the food industry, has been a board member at Ripple for five years. Before joining Ripple, she worked at General Mills for over 20 years, where she led the global Häagen-Dazs brand and served as president of Yoplait USA.
As CEO, O'Grady will lead Ripple’s growth and help make plant-based nutrition more accessible while working to build a healthier, more sustainable food system.
Executive Statement
According to O'Grady, CEO, this is a pivotal moment for Ripple. Harnessing the power of their brand and the strength of our team, they are poised to unlock our full potential. They are launching innovative new products, driving consumer penetration and customer expansion, and opening new growth horizons through transformative partnerships and capabilities.
