Key investors and international dairy companies join latest capitalisation round
Clean-label dairy alternative innovator Yofix Probiotics has concluded an extended series-A round of strategic investment from new key investors, namely Germany-based Müller Ventures, the French Bel Group, and LionTree Partners based in the US. This brings a total of US$2.5 million in investment.
The new infusion of funding will provide the start-up with significant leverage for attaining global expansion of its current portfolio of plant-based yoghurts. The funding will also allow the company to accelerate development of its tech platform to launch more innovative soy-free dairy alternatives in additional categories.
Benjamin Bugl, managing director of Müller Ventures, noted: “In the fast-growing dairy alternative space, Yofix offers a range of quality products, both in terms of flavour and texture. With no artificial ingredients, its clean-label solution is a differentiator for consumer awareness and acceptance. Combined with Yofix’s management team, this makes it an attractive investment opportunity for Müller.”
Last year, Yofix launched a new generation of clean-label yoghurt alternatives based on its zero-waste production process. The fermented formula is soy-free and composed of a short list of natural and nutritious ingredients, including oats, lentils, and sesame. It was crafted to deliver the classic flavour and probiotic functionality of dairy yoghurts with the dairy ingredients, serving the lactose-intolerant and dairy-allergic population as well as offering a plant-based solution for the growing vegan and flexitarian markets.
Fatine Layt, head of France of LionTree, elaborated: “The rise of flexitarianism has led to strong, growing demand for plant-based products worldwide. Yofix has a positioning, offering 100% clean-label plant-based yoghurt and a promising platform for delivering not only yoghurts and drinkable yoghurts, but a complete portfolio of real dairy replacements. More importantly, they hit all the desired organoleptic marks. We are enthusiastic to witness its next steps and facilitate its growth through our global network.”
Since the launch of its line of yoghurt alternatives, the start-up has been awarded the final $100,000 grant from PepsiCo 2018 Nutrition Greenhouse programme, and more recently was elected as one of the most 50 innovative companies at Anuga 2019 in Cologne.
Steve Grün, CEO of Yofix, highlighted the investments open new door to new possibilities, and added: “Over the next few years, we will focus strategic efforts on expanding our line of dairy alternatives – which also includes oat yoghurt shakes – into the global market. The support will also boost the advancement of our efforts towards developing more clean-label plant-based offerings that extend into alternative cheese, frozen desserts, and milk alternatives – the prospects are boundless.”
