Yofix Probiotics, maker of clean label dairy alternatives, has concluded a $2.5 million Series A round of strategic investment from the following new investors: Muller Ventures, Bel Group, and LionTree Partners. The startup will use the funding to expand its portfolio of plant-based yogurts globally and to accelerate the development of its tech platform to launch more soy-free dairy alternatives in additional categories.
In 2019, Yofix launched a line of clean label yogurt alternatives based on its proprietary zero-waste production process. The fermented formula is soy-free and composed of natural ingredients, including oats, lentils, and sesame. Since the launch of its line of yogurt alternatives, the startup has been awarded the final €100,000 grant from the PepsiCo 2018 Nutrition Greenhouse program, and more recently, was elected as one of the 50 most innovative companies at Anuga 2019 in Cologne.
“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,” said Steve Grun, CEO of Yofix. “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.”
On February 10, U.S. President Donald Trump released his proposed budget for the 2021 fiscal year, which came in at a record high of $4.8 trillion.
According to Reuters, South Africa’s Competition Commission has conditionally approved PepsiCo’s $1.7 billion acquisition of food and drinks producer Pioneer Food Group, saying it is unlikely to lessen competition in relevant markets.
According to Reuters, the United States and Kenya have agreed to launch negotiations that could lead to the first U.S. bilateral trade deal with a sub-Saharan African country.
The European Food Safety Authority (EFSA) published its latest annual update on the presence of African swine fever (ASF) in the European Union. In 2019, the area of the European Union affected by ASF expanded progressively, moving southwest.
The U.S. Food and Drug Administration (FDA) opened the Voluntary Qualified Importer Program (VQIP) application portal on Jan. 1, 2020, for the benefit period between Oct. 1, 2020, and Sept. 30, 2021.