Yofix Probiotics raises capital for business expansion

Israeli lant-based yoghurt manufacturer Yofix Probiotics has secured $2.5m in funding for its expansion through an extended series-A round.

The company received investments from German firm Müller Ventures. The France-based Bel Group and the US-based LionTree Partners also participated in the funding round.

Yofix Probiotics CEO Steve Grün said: “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 yoghurt 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.”

The company also intends to fast-track the development of its technology platform. This will allow it to launch soy-free dairy alternatives in new sectors.

Last year, the company was awarded the final $100,000 grant from the PepsiCo 2018 Nutrition Greenhouse programme.

Müller Ventures managing director Benjamin Bugl said: “In the fast-growing dairy alternative space, Yofix offers a unique range of quality products, both in terms of flavour and texture.

“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.”