-73%

est. 2Y upside i

Series B

Eclipse is a proprietary plant-based dairy replacement, offering the same consistency and flavor as traditional milk.

Rank

#3482

Sector

FoodTech

Est. Liquidity

~4Y

Data Quality

Data: Medium

Eclipse Foods operates in a growing plant-based dairy market with a differentiated product platform.

Last updated: March 10, 2026

Bull (15%)+250%

Eclipse Foods' proprietary micelle technology gains significant market traction, leading to widespread adoption of its non-dairy milk and ice cream products across retail and foodservice. Strategic partnerships and successful international expansion, particularly in Asia, drive revenue to over $50M by 2028, justifying a $595M valuation as a leader in premium plant-based dairy.

Base (35%)+20%

Eclipse Foods maintains its niche in the premium plant-based dairy market, with steady but moderate growth in existing retail and foodservice channels. Revenue grows to approximately $15M-$20M by 2028, leading to an acquisition or modest funding round at a $204M valuation, slightly above current levels but with limited upside for common shareholders after preferences.

Bear (50%)-60%

Intense competition from well-funded incumbents and precision fermentation companies erodes market share and pricing power. Slowing growth, a -19% employee reduction, and declining D2C sales lead to a down round or distressed acquisition at a $68M valuation, resulting in minimal to no return for common stock holders due to the significant $60M liquidation preference.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

35%

Investors hold $60M in liquidation preferences, meaning in an exit at or below $60M, common stock holders would receive nothing.

Dilution Risk

high

Given current revenue and capital intensity, further funding rounds are likely needed for scale, which will likely dilute common shareholders.

Secondary Liquidity

none

No information suggests active secondary markets or tender offers for Eclipse Foods equity.

View all 2 open roles at Eclipse Foods →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Eclipse Foods's data — designed to show you've done your homework.

  • 1

    “Given the increasing competition from large incumbents like Danone entering precision fermentation, how does Eclipse Foods plan to maintain its competitive edge and proprietary technology in the long term?”

  • 2

    “With ~$10M in revenue and a recent decline in D2C online sales, what are the key strategies for accelerating revenue growth and achieving profitability in the next 2-3 years, particularly in the context of a maturing plant-based market?”

  • 3

    “Considering the $60M in total funding on a $170M valuation, how is the company thinking about future funding rounds impacting employee equity, and what is the anticipated timeline for a liquidity event for common shareholders?”

Community

Valuation Sentiment

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.