ISRAEL – Müller Ventures, the early stage investment arm of The Müller Group has invested in clean-label dairy alternatives innovator, Yofix Probiotics, based in Israel.
Müller Ventures was part of the new investors in Yofix Probiotics’ extended series-A round of strategic investment. The French Bel Group and LionTree Partners also joined Müller in the financing round which brings in a total of US$2.5 million.
The new infusion of funding will provide the startup with significant leverage for attaining global expansion of its current portfolio of award-winning plant-based yogurts.
Yofix said that the funding also allows the company to accelerate development of its tech platform to launch more innovative soy-free dairy alternatives in additional categories.
“In the fast-growing dairy alternative space, Yofix offers a unique range of quality products, both in terms of flavor and texture,” notes Benjamin Bugl, Managing Director of Müller Ventures.
“With no artificial ingredients, its clean-label solution is a powerful differentiator for consumer awareness and acceptance. Combined with Yofix’ strong management team, this makes it an attractive investment opportunity for Müller.”
Last year, Yofix launched a new generation of clean-label yoghurt alternatives composed of a naturally sourced ingredients, including oats, lentils, and sesame. based on its proprietary zero-waste production process.
Since the launch of its line of yogurt alternatives, the startup has been awarded the final US$100,000 grant from the PepsiCo 2018 Nutrition Greenhouse program, and more recently was elected as one of the 50 most innovative companies at Anuga 2019 in Cologne.
Steve Grün, CEO of Yofix says: “Receiving the financial investment by such prominent multinational players of the dairy industry is an endorsement of trust and confidence in our products and technology.
“This fresh influx opens the door to new possibilities. Over the next few years, we will focus strategic efforts on expanding our line of dairy alternatives — which also includes oat yogurt shakes — into the global market.
“The support will also boost the advancement of our efforts toward developing more clean-label plant-based offerings that extend into alternative cheeses, frozen desserts, and milk alternatives — the prospects are boundless,” enthuses Grün.
Other investors for this round include Good Seed Ventures and HWA, as well as initial investors CPT Capital and VegInvest.
Yofix was the first startup to be housed by The Kitchen Hub, the FoodTech incubator established five years ago by the Strauss Group.