Goldman Sachs Group Inc. participated in a $65 million investment in Ripple Foods Inc., a little-known beverage company that makes 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. It’s 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 the company says strips out the funky flavor often found in plant materials. The result is almost purely protein, say Ripple's founders Neil Renninger and Adam Lowry.
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