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Alpha Foods has grown its brand portfolio from four to more than 25 popular vegan and non-GMO products and is currently available in more than 9,000 stores across the U.S., including Walmart, Kroger, Albertsons/Safeway, and Wegmans supermarkets.
FREMONT, CA: Alpha Foods, makers of convenient plant-based foods, raised $28 million in a funding round led by AccelFoods (AF), a leading venture capital fund and participated by New Crop Capital, Green Monday Ventures, and Blue Horizon. The capital from the funding will be used to launch new products, secure key talent, and expand its distribution in both the domestic and overseas markets, as well as boosting its marketing and sales support to increase its touchpoint with consumers.
"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," said Cole Orobetz, Co-Founder and President of Alpha Foods. "We are so fortunate to continue our incredible partnership with AccelFoods and take the brand to the next level through new products, distribution, and talent."
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Co-founded by Loren Wallis, former founder of Good Karma Foods, and Cole Orobetz, a former venture capital investor in the food and agtech sector, the two have taken the plant-based protein brand to new heights since launch setting themselves apart from the field with deep sector knowledge having been early visionaries and market creators in plant protein.
"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," said AccelFoods Managing Partner, Jordan Gaspar. "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.
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