Fonterra has joined a group of companies investing 15 million euros in German food start-up YFood, the latest sign that companies are aiming to tap global shifts in eating habits.
The “Series B” funding was led by London-based venture capital firm Felix Capital and apart from Fonterra included existing investors in YFood, Five Seasons Ventures and New Ground Ventures, YFood said in a release.
YFood, set up in 2017, makes vegetarian bars, drinks and powders as snacks and meals aimed at supplying balanced food for people on the go, which are sold in over 13,000 shops in most European countries. YFood said it will use the funds to expand further in Europe. It recently launched an online shop in the UK. It will also draw on Fonterra’s expertise in ingredients, intellectual property and patents to invest more in research and product development.