Eclipse raises $40M+ in Series B round to fuel dairy replacement platform

Series B round, led by Sozo Ventures, to accelerate growth, R&D, distribution partnerships

Plant-based dairy producer Eclipse Foods completed a Series B funding round of over $40M led by Sozo Ventures. Forerunner Ventures, Initialized Capital, Gaingels, and KBW Ventures also participated. The infusion will propel growth of the manufacturer in retail and foodservice. In addition, Eclipse Foods will be able to accelerate R&D of the company’s plant-based dairy platform, build a world-class team and drive awareness of Eclipse as a top dairy replacement product, according to a statement.

With this latest financing, Eclipse has raised over $60M. 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 leading tech accelerator, have invested in Eclipse.

“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 $1.4T by 2050, Eclipse is positioned to completely transform the dairy industry with its proprietary plant-based dairy platform.”

Eclipse has expanded its foodservice partnerships, working with restaurants, burger chains, ice cream shops, and stadiums. With the Eclipse Series B round of financing, it can now accelerate this work. Recently, it partnered with Smashburger, launching the first nationally available non-dairy milkshakes. Eclipse has also teamed up with Afters Ice Cream, the LA Dodger Stadium, Mel’s Original, and Silver Diner.

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In 2019, Thomas Bowman, a James Beard-nominated chef, and Aylon Steinhart, alternative protein expert co-founded Eclipse. Their mission is to create a more sustainable, healthy and humane food system. A proprietary blend of non-GMO plants, including cassava, corn, and potato helps create virtually any plant-based dairy product.

The plant-based dairy platform, with much promise, has evolved. With a current specialty in ice cream, Eclipse creates products, from cheeses to spreads to desserts, that replicate the taste, texture and functionality of traditional dairy. According to Eclipse, the platform is free from all top allergens such as gluten, soy, coconut, nuts, and is non-GMO and free from gums and stabilizers.

Within food retailing, including at Whole Foods Market, Albertsons, Vons, GoPuff and others, Oakland, Calif.-based Eclipse has grown by 2100% year over year. The company also distributes products through regional chains like Pavilions, Central Market, Nugget, and Harmon’s, as well as direct-to-consumer channels: GoPuff, Good Eggs and Gorillas.

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“With 10 billion people to feed by 2050, we recognized that global diets must change,” said Steinhart, co-founder and chief executive 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.”

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