YFood, a start-up offering complete food solutions in the form of drinks, bars and powder, has secured a €15 million Series B financing round, led by London-based VC Felix Capital.
New Zealand-based global dairy co-operative Fonterra, together with existing investors Five Seasons Ventures and New Ground Ventures, also joined the financing for the Munich-based start-up company.
YFood will use the funds from the financing round to roll out their successful and proven model – which is already profitable in Germany, Austria and Switzerland – throughout Europe.
The recent launch of the UK online shop marks the start of this expansion into seven key European markets. Supported by the expertise of Fonterra, the start-up company also intends to invest more in research and development activities in order to further expand its technological leadership in product development.
Through a successful multi-channel model, YFood has taken a modern nutritional concept to mass market viability by understanding the complex needs of modern consumers.
YFood has grown revenues by over 300 percent within the last year, currently serves over 200,000 online customers, is available at over 13,000 retail outlets and has over 70 employees.
“Winning the support of Felix Capital as the lead investor is a major asset for us. From the outset it has been clear that we share the same vision for the future,” explain YFood founders Ben Kremer and Noël Bollmann.
“Felix Capital is a London-based venture capital firm operating at the intersection of technology and creativity with a strategy to invest in digital lifestyle, backing modern brands and related enabling technologies. We immediately clicked with this investment thesis and are delighted to continue the YFood success story with such an experienced investment team.”
Felix Capital’s portfolio includes the likes of Deliveroo, Farfetch, Peloton and HungryPanda. Emilie Spire from Felix Capital says, “We are impressed by YFood’s sustainable growth trajectory and by the quality of their management team.
“We have the conviction that their smart omni-channel approach combined with their deep product expertise and mass market positioning enables them to become the global leader in the emerging “smart food” category.”