Dairy-free yogurt firm Yofix receives $2.5m in Series A funding

Dairy alternative company Yofix has received $2.5 million in a Series A funding round led by Müller Ventures, Bel Group and LionTree Partners.

Israel-based Yofix produces a range of dairy-free yogurts –including plant-based probiotic yogurts – and the company says that the new funding will allow it to expand its product portfolio into new markets.

Additionally, the funding will be used to accelerate the development of Yofix’s tech platform, enabling the company to launch more soy-free dairy alternatives in additional product categories.

Steve Grün, CEO of Yofix, 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 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.”

Benjamin Bugl, managing director of Müller Ventures 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.”

Yofix was one of ten companies selected in the second edition of PepsiCo’s European Nutrition Greenhouse programme in 2018, and was awarded the final €100,000 grant last year after “significantly scaling up its operations”.

During the programme, the company opened a new manufacturing facility, started a nationwide product launch in Israel, and completed the strategic development of an international expansion plan.