FRANCE – Yooji, a French maker of organic frozen food for babies, has secured additional funding of €7.5 million (US$8.7m) from existing investors Danone Manifesto Venture, Capagro and Caravelle, in addition to new shareholders Pymwymic (Put Your Money Where Your Meaning Is Community) and DS Participation.
The funds will be used for marketing as the company seeks to break the €20m (US$23m) a year sales mark.
Pymwymic says that it will support Yooji’s ‘impact mission’ in the areas of sustainability and promoting healthy diets for infants.
“Yooji has created a unique and sustainable offering: tasty, healthy, no additives, transparent and with care for the environment,” said Monique Meulemans, investment manager at Pymwymic.
“We are very happy to be part of this new fund raising intended to drive growth, in line with our mission to support entrepreneurs who invent the future of healthy and sustainable food.”Paul Chifflet – head of Europe, Danone Manifesto Ventures
“We proudly support them to feed our newborns and play their part in transitioning future generations towards more healthy diets.”
Founded in 2012, Yooji produces organic baby food that is claims is similar to home-cooked food. The company is focused on sustainable packaging, renewable energy sources and sustainability.
“At Danone Manifesto Ventures, we are proud of Yooji’s achievements over the past three years and more than ever convinced that their product offer answers the needs of today’s young parents,” Paul Chifflet, head of Europe at Danone Manifesto Ventures, said.
“We are very happy to be part of this new fund raising intended to drive growth, in line with our mission to support entrepreneurs who invent the future of healthy and sustainable food.”
Free from additives, Yooji products aim to appeal to those looking for healthy and convenient baby food that is as similar as possible to home-cooked food.
The company is also said to prioritise sustainability and to aim to minimise its footprint with waste reduction plans, sustainable packaging and 100% renewable energy sources.
Yooji, who has raised €15 million since its creation , will also boost its communication. Objective: to promote the range of 24 products sold in small, dosable portions which, when combined, make it possible to prepare some 700 different meals.
“We want to show that we are very close to the fact at home,” explains Jérémy Strohner. By the end of the year, the young company will invest €500,000 in a communication campaign conducted exclusively on social networks .
A third of the money raised should therefore be invested in communication in the years to come. The objective for the company is to achieve profitability by 2021 and a turnover of €20 million by 2025.
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