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Alpha Foods Announces $7 Million Seed Funding Round, Led by New Crop Capital and AccelFoods

Alpha Foods Announces $7 Million Seed Funding Round, Led by New Crop Capital and AccelFoods
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LOS ANGELES--(BUSINESS WIRE)--Mar 26, 2019--Alpha Foods, makers of plant-based meals that make it convenient for consumers to choose a meatless life or a meatless Monday, announces its seed investment today, via a $7 million round of funding co-led by New Crop Capital and AccelFoods, including additional mission aligned partners. Together, Alpha Foods and their investment partners aim to expand the brand's reach and lead a new frontier in plant-based eating.

Alpha Foods was founded in 2015 with a mission for bringing clean and sustainable plant-based proteins to consumers in a convenient way that is meatless and mouthwatering. Made with plant-based, non-GMO ingredients, Alpha Foods delivers all-American comfort food products including burritos, pot pies, chik'n nuggets, and tamales that are convenient, delicious, improve animal welfare and support a more sustainable world.

“As we continue to expand and reach more consumers, our mission remains the same to help vegans and non-vegans alike make small changes for their health and the environment by providing unrivaled plant-based taste,” said Loren Wallis, Co-Founder and CEO of Alpha Foods. “We feel so fortunate to have found outstanding partners in New Crop and AccelFoods to help propel our brand in this next chapter.”

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“Our benchmark at Alpha Foods is to always create products that are appealing to meat eaters, vegetarians and vegans alike. Plant-based options don’t need to be extreme or polarizing anymore,” says Cole Orobetz, Co-Founder and CFO/COO of Alpha Foods. “More consumers are looking to reduce their meat intake without sacrificing foods they know and love. Our foods have mass-market appeal because they are familiar, easy to prepare and can be enjoyed on-the-go.”

“We are proud to have partnered with Alpha Foods through our New Crop Capital fund since 2016 and are excited to continue to work with such a phenomenal team to bring high quality, great tasting plant-based proteins to the mass market,” said Dan Altschuler-Malek, Senior Venture Partner at Unovis Partners. “The brand deeply aligns with our mission and we are excited to continue the momentum of the brand's growth.”

“We partner with founders that are truly disrupting the norm without sacrificing quality or taste,” said Jordan Gaspar, Managing Partner of AccelFoods. “ Alpha Foods ’ commitment to creating delicious and convenient meals affords both meat and non-meat eaters the opportunity to make small, yet sustainable, changes that positively impact the larger food ecosystem.”

The funding will enable Alpha Foods to continue along its path to becoming a household name at the helm of plant-based eating by bolstering innovation and distribution. Alpha Foods' brand portfolio features 20 products that are currently available in over 6,000 stores nationwide, including Walmart, Kroger, Publix, Sprouts, Wegmans, and more. For more information, please visit www.alphaplantbased.com.

About Alpha Foods

Alpha Foods provides unrivaled plant-based convenience through a delicious product roster that provides accessible, meatless and mouthwatering options for all types of consumers. Fueled by the power of plants and founded in 2015, Alpha is based in California and is dedicated to providing sustainable food choices that support animal welfare and a healthier planet. Alpha offers a wide variety of protein-packed, non-GMO, plant-based versions of classic comfort foods that deliver a delicious meatless meal that is perfect for an on-the-go lunch, dinner, or anytime snack—without sacrificing on taste or texture.

About Unovis Partners

Unovis Partners is a global investment firm focused on companies developing replacements to animal protein products. Its goal is to transform the global food system by investing in solutions that facilitate sustained behavioral change and eliminate the consumption of animal protein products. Unovis, through its fund New Crop Capital, provides Angel, Seed and Early-Stage funding for plant-based and cultured/clean meat replacements to beef, chicken, pork, lamb, fish, shellfish, dairy, and eggs. Post investment, Unovis supports founders by sharing their culinary knowledge, understanding of consumer habits, experience in food manufacturing, and network to de-risk investments and build lasting companies. To date, Unovis has made 30+ early-stage investments in startups including Beyond Meat, Alpha Foods, Good Catch, Memphis Meats, BlueNalu, and Zero Egg. www.unovis.vc

About AccelFoods

AccelFoods is a venture capital fund investing in high-growth packaged food and beverage companies. AccelFoods connects the dots within the broader ecosystem to help founders scale their business quickly and smartly. With $90 million under management, AccelFoods is on the hunt for challengers who will create the next generation of enduring brands. To learn more, please visit www.accelfoods.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190326005230/en/

CONTACT: Media Contacts:

Baldeep Tahim/Rebecca Campbell

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Konnect Agency

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE RETAIL FOOD/BEVERAGE

SOURCE: Alpha Foods

Copyright Business Wire 2019.

PUB: 03/26/2019 08:00 AM/DISC: 03/26/2019 08:01 AM

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