Berlin - Schnittker Möllmann Partners (SMP) has provided comprehensive legal advice to the existing investors Five Seasons Ventures and New Ground Ventures on the Series B financing round of YFood Labs in the amount of 15 million euros. London-based fund Felix Capital joins as new lead investor. New Zealand-based food company Fonterra is also new to the circle of investors.
YFood produces and sells wholesome drinking meals, bars and powders. The start-up was founded in 2017 by Benjamin Kremer and Noel Bollmann.
The capital infusion, which amounts to a total of 15 million euros through Felix Capital, Fonterra, Five Seasons Ventures and New Ground Ventures, will be deployed by YFood to roll out the business - that is already profitable in Germany, Austria and Switzerland - across Europe. The recent launch of the UK online shop marks the start of the expansion into seven key European markets. With the assistance of the food company Fonterra, the foodtech wants to focus more on research and development activities in order to further expand its technological lead position in product development.