Glendale, California-based Alpha Foods, the vegetarian prepared food manufacturer company has confirmed securing $28 million as part of Series A round which has been led by existing backer AccelFoods. The round also saw support from New Corp Capital, Green Monday Ventures, and Blue Horizon Equity. Before this round, Alpha Foods had raised $7 million in seed financing in March last year.
Founded in 2015 by Cole Orobetz, and Loren Wallis, Alpha Foods produces plant-based foods focused on taste, texture, and sustainability. The firm plans to use the latest capital to launch new products and hie more people to expands its distribution channels nationally and internationally.
Cole Orobetz, the president of the firm through a statement said, “As more and more people actively seek out plant-based options, whether, for their health or the environment, we are looking to expand our innovations within the category and bring easy to prepare products to a wider audience."
AccelFoods Managing Partner Jordan Gaspar talking about Alpha Foods and their infusion in the firm said, “We are in the early days of plant-based consumption. As a portable, functional food business geared towards the newly emergent flexitarian consumer, the Alpha platform meets all of its customers’ snack and mealtime needs. We couldn’t be prouder to lead this strong nexus of collaborative investors, who had the opportunity to organically build trust this past year allowing for an incredibly successful outcome in this financing.”
The firm gets competition from Kellogg’s who use Morningstar Farms line of vegetarian products and Nestlé offers vegetarian options through Sweet Earth Foods.
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