California-based meat-alternatives company Alpha Foods has raised US$28m in a funding round led by local investor AccelFoods.

It was joined by mostly existing investors in Alpha Foods, including New Crop Capital, Green Monday Ventures and Blue Horizon.

New York-based AccelFoods said the funding will support Alpha Foods’ “continued growth as an emerging global leader in the plant-based meal category”.

Alpha Foods has a portfolio of more than 25 vegan and non-GMO products which are available in more than 9,000 stores across the US, including branches of Walmart, Kroger, Albertsons/Safeway, and Wegmans supermarkets. 

It was founded by Loren Wallis, former founder of Good Karma Foods, which was acquired by dairy giant Dean Foods in 2018, and Cole Orobetz, a former venture capital investor in the food and ag-tech sector. 

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Alpha Foods said it plans to put the latest funds toward new product launches, securing “key talent”, expanding its distribution channels, both domestically and internationally, as well as boosting its marketing and sales support.

Orobetz 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. 

“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.”

AccelFoods, a specialist investor in the food and beverage space which has also invested in companies such as Four Sigmatic and Koia, was co-lead in Alpha Foods’ previous fundraising round in Q1 of last year

Its managing partner, Jordan Gaspar, 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.”