American plant-based food brand Alpha Foods announced that it had raised $28 million in a funding round led by VC fund AccelFoods and supported by New Crop Capital, Green Monday and Blue Horizon.
Founded by Cole Orobetz and Lauren Wallis in 2015, the brand debuted its line of frozen ready meals in 2018 at US biggest supermarket chain Walmart.
Now, Alpha Foods offers 25 vegan products including frozen prepared foods such as pot pies, tamales, burritos, nuggets and pizza as well crumbles, strips, a sausage patty and a 'beefy' burger made from non-GMO soy and vital wheat gluten.
Their products are available in more than 9,000 supermarkets across the United States and a range of foodservice outlets.
Alpha Foods will use the funding to expand its team, product lines, and distribution nationally and internationally.
Firstly, the brand is planning to expand to Canada and the UK.
"I'd say Canada and the UK would be next on the list of international markets we'd look at," said Cole Orobetz, the co-founder of Alpha Foods.
Orobetz says the latest funds will go toward new product launches, new hires, expanding distribution, and boosting marketing and sales support.
He added: "The size of the animal protein market is gigantic, and in terms of percentages, we see plant-based meat surpassing plant-based milk, so the market opportunity is massive."