Israel-based brand Yofix Probiotics, Ltd recently secured $2.5 million in an extended series A round, with participation from two large dairy companies: Germany’s Müller Ventures and France’s Bel Group. Last year, the company launched a line of soy-free vegan yogurts made with oats, lentils, and sesame seeds using its proprietary zero waste production process and will use the new funding to expand its global distribution along with developing new dairy-free alternatives outside of the yogurt space. “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,” Yofix CEO Steve Grun said. “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.” In recent years, brands focused on making animal-based products have added plant-based alternatives to their portfolios, including Danone which acquired WhiteWave—the parent company of vegan brands So Delicious, Silk, Vega, and Alpro—in a $12.5 billion deal in 2016.
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