Yooji, the French baby-food start-up, has attracted more funding, including, again, from Danone, home to brands Cow & Gate and Aptamil.
The firm, a supplier of organic meat, fish and vegetable-based products, has raised EUR7.5m (US$8.9m) from existing shareholders CapAgro, the Paris-based VC fund, French family fund Caravelle and Danone Manifesto Ventures, the French food giant’s in-house venture-capital arm. New investors, the Dutch impact fund Pymwymic and DS Participation, also joined the round.
Alongside the new backing, Yooji has also appointed former Danone and Heineken executive Jérémy Strohner as its new CEO.
Danone first invested in Bordeaux-based Yooji, which was set up in 2012, three years ago.
Yooji is aiming to become “a key player in infant nutrition” in France, a statement from advisors Oaklins, announcing the new financing, read. By 2025, Yooji is targeting EUR20m in turnover and a 12% market share in value terms.
Strohner said: “The reaffirmed confidence of historical shareholders as well as the entry of Pymwymic into the capital will allow us to conquer new markets and create more societal and ecological impact.”
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Paul Chifflet, European director of Danone Manifesto Ventures, said: “At Danone Manifesto Ventures, we are very proud of the progress made by the Yooji team for three years, and are still more convinced that the Yooji product offer meets the expectations of the younger generations of parents.”