The food tech startup Yfood has secured another million-dollar round of funding: With its Series B financing round, the Munich-based company has raised a total of €15 million. Lead investor is the London-based venture capital fund Felix Capital. In addition to existing investors Five Seasons Ventures and New Ground Ventures, the New Zealand food company Fonterra is also contributing.
Yfood, a startup founded in 2017 by Ben Kremer and Noël Bollmann, produces "Complete Food" in the form of drinkable meals, bars, and powders. During an appearance on the Founders Show 'The Lion's Den' In 2018, the startup convinced Frank Thelen to invest 200,000 euros. Last year, the French group Five Seasons Ventures and the VC New Ground Ventures from the USA joined the venture with an investment of Investment of 4.2 million Euro from the Munich-based company. Yfood sells its products in Germany, Austria, and Switzerland. It also recently launched an online shop in the UK. According to the startup, it serves over 200,000 online customers and is available at over 13,000 retail outlets.
The British venture capital investor Felix Capital became known through investments in startups such as Deliveroo, Farfetch and Dott. Emilie Spire, Associate at Felix Capital, says:
"Yfood's tremendous growth is impressive and demonstrates that the startup has been able to bring a modern nutrition concept to mass market readiness by understanding the complex needs of modern consumers."
The founders Ben Kremer and Noël Bollmann say about the newly acquired partners:
"Felix Capital, as lead investor, is a particular asset for us. It became clear from our initial discussions that we share the same vision for the future."
Planned further development of Yfood
With the Series B funding, the startup plans to further internationalize its operations. The goal is to become active in seven key European markets, including the UK. Yfood also plans to invest more heavily in research and development activities with the expertise of the food company Fonterra, which previously acted as a supplier to Yfood.
The New Zealand-based dairy is considered one of the world's largest food companies, competing with Nestlé and Danone. It's also no stranger to the German startup landscape: In 2018, it invested in the sports nutrition specialist Foodspring. One year later, Fonterra sold its majority stake in Foodspring to the Mars Group.
