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September 12, 2017

Israeli start-up Yofix gets US$2m to expand plant-based yogurt business

Israeli food start-up Yofix Probiotics has secured US$2m in funding to help the plant-based yogurt maker expand its business. 

By Simon Harvey

Israeli food start-up Yofix Probiotics has secured US$2m in funding to help the plant-based yogurt maker expand its business. 

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The Series A round of financing was led by Israel food and drinks maker Strauss Group and included private investors from the US, the UK and Israel, the company said in a statement. The funding adds to the so-called seed investment it received from Israel’s The Kitchen Hub, a food tech incubator also owned by Strauss Group and backed by the Israel Innovation Authority.

Yofix uses grains, cereals, seeds and lentils to make its dairy- and soy-free yogurts, which are high in calcium, proteins and dietary fibres. They have no added sugars, preservatives or stabilisers. The company employs a zero-waste manufacturing technique, which minimises the environmental impact. 

The company’s first product was a plant-based yogurt that will be followed by yogurt drinks, deserts, frozen yogurt and ice cream.

“We were fortunate to be accepted to The Kitchen and to receive mentorship, coaching and support,” said CEO Ronen Lavee. “With the investment and support from Strauss Health, we will launch our product nationwide in Israel, follow up with a line of new products and start international marketing.”  

Jonathan Berger, CEO of The Kitchen Hub, said: “We strive to offer sustainable products and technologies to the market and to create positive outcomes, both for the consumer and the environment. Working with the brilliant team at Yofix has validated our mission to help companies that develop cutting-edge technologies and bring value across the entire food chain.”

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Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

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