Goldman Sachs Group Inc recently participated in a $65 million investment in Ripple Foods Inc. The startup is involved in making a milk-like drink from yellow peas.
The investment, which was led by Euclidean Capital, includes funding from Khosla Ventures, Fall Line Capital and S2G Ventures, a food and agriculture investment firm started by OpenTable Inc.’s founder.
This is Ripple’s largest capital infusion and brings the two-year-old company’s total funding to $110 million.
Ripple has sold the investors on its Ripptein, pea protein that has been extracted from the vegetable by a process that strips out the funky flavor often found in plant materials.
For the past four years, investors have put well over US$1 billion each year into food and beverage startups, including Impossible Foods Inc, which makes a red-meat replacement from plants, and Memphis Meats, which grows chicken cells in a laboratory.
