YFood secures 15 million Euro investment
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 renowned London-based 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.
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.
YFood founders Ben Kremer and Noël Bollmann said: “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 expressed confidence in the Fund’s latest investment:
YFood is supporting medical staff in the COVID-19 crisis by gifting over 100,000 Euros worth of ready-to-drink meals to medical staff in order to provide them with fast, delicious and balanced nutrition.