Alpha Foods Raises $28 Million to Expand Vegan Offerings

Last year we couldn't stop hearing about plant-based beef. This year, it’s all about plant-based "chicken." Alpha Foods is one of those up-and-coming companies promising to bring its plant-based chicken to the masses, and its latest fundraising round will help fulfill its promise.

The frozen plant-based nuggets, patties, burritos, and other grab-and-go products brand announced it recently raised a healthy $28 million. The funding round was led by AccelFoods, a venture capital fund and institutional investor with a focus on the plant-based food and beverage space.

With chicken being the most consumed meat in the US, it’s ripe for disruption and Alpha is eager to bring more products to the masses; so far, it’s doing fine—actually more than fine. Its ability to scale over the last five years has been nothing short of impressive.

Consider this: Alpha products are now in more than 9,000 stores nationwide, including mainstream outfits like Walmart, Kroger, Albertsons/Safeway. This new funding will help the brand continue to expand and reach the emergent plant-based and flexitarian consumer.

Alpha currently has 27 different products, from nuggets to patties, pizzas and burritos, tamales and more, and is looking to increase the offerings, giving consumers more options at the grocery store.

Most of the product is soy-based with wheat and other vegetable proteins in the mix. Alpha also hinted that it has its eye on the foodservice space—so consumers might look forward to Alpha Nuggets and other products being offered at fast-food and fast-casual restaurants...but we will have to wait and see.

Plant-Based Foods for a 'Wider' Audience

“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 prepared products to a wider audience,” said Cole Orobetz, co-founder and president of Alpha Foods.

Alpha is competing with household names like MorningStar Farms, Gardien, and Quorn, as well as new plant-based selections from traditional food giants such as Hormell and Kellogg. Alpha’s vegan products are among the best tasting, making its burritos, pizza's and hand-held chicken pot pie easy winners.

But the company also leads with its value-system of sustainability and ethical treatment of animals, as stated on its website. The founders explain: "Why did we go to such lengths to create foods that are deliciously plant-based? Because we know that plant consumption is good for our health, improves animal welfare, and supports a more sustainable world. We also know that small changes can have a big impact. Every time we enjoy one of our animal product-free foods, we can feel good knowing that we are doing good for the planet and the creatures on it – both two-legged and four."

These types of commitments are not only good for the planet, they're good for business since ethical and sustainable products are what consumers are increasingly showing support for at the cash register.