Danone Manifesto Ventures makes first UK-based investment8 Apr 2021
Danone’s VC arm, Danone Manifesto Ventures (DMV) made its first investment in a UK-based business with its commitment to a £2.5m funding round for the healthy drinks brand Moju. Moju said the French Dairy giant’s minority investment in the company will be used to accelerate the growth of its functional juice shots platform.
Other investor in the round include former Graze COO Tom Carroll, former HelloFresh COO Roger Hassan, and Dave Nolan and Kevin Glynn, founders of DTC fresh dog food brand Butternut Box, as well as Arsenal defender Hector Bellerin.
Moju was founded in 2015 on the premise of offering a range of functional juice options to people looking for a healthier, functional drink. Since its inception, the brand has grown its sales steadily. For 2021, the company expects to continue this trend and is forecasting its retail sales will reach around £9m. The brand, which sells four flavors of ready-to-drink shots in 60ml portions (ginger, turmeric, vitamin C and vitamin D) as well as 500ml bottles of juice, is available at both online and offline retailers in the UK as well as specialty cafes, delis and indies.
“We’ve built Moju from a kitchen table to trailblazing the insurgent functional shots category that’s been in high double-digit growth year-on-year since 2016,” co-founder Rich Goldsmith said in a statement.
This fast-growing functional beverages brand is not the only investment that DMV has made recently. Since launching in 2016, the venture capital arm has made investments in over 15 companies. In the U.S., the venture arm has taken stakes in Harmless Harvest, Laird Superfood, Forager Project and Nature’s Fynd. In France, where Danone is headquartered, the company’s venture arm has invested in Yooji, Agricool, Phenix and Nous-Antigaspi.
As consumers become increasingly focused on feeding themselves functionally, Danone has pivoted through investment to align with companies that are catering to what people want. The mission of its VC arm is to support burgeoning companies that encourage healthier eating and drinking in categories with high-growth potential.
With legacy brands continuing to struggle to carve out a path forward amid startups and trendy brands, this approach to competing in areas outside its core brands in order to promote overall growth has proven to be at least successful enough to prompt Danone to pursue this path in yet another market outside of France.
PepsiCo doubles down on nonalcoholic cocktail mixers with Unmuddled
8 Jul 2021
Legacy soda manufacturer PepsiCo is moving deeper into the non-alcoholic cocktail space with the announcement that it will debut a line of premium mixers called Unmuddled. The product line will be available beginning in September at Fresh Thyme and on ...Read more
Carbios technology creates first enzymatically recycled bottles
6 Jul 2021
French biochemistry firm Carbios announced that, in partnership with a consortium of CPG manufacturers, it has produced the world’s first food-grade PET plastic bottles made entirely from enzymatically recycled plastic .Read more
Soonish debuts natural beer with gluten-free baking ingredients
29 Jun 2021
Los Angeles micro brewer Soonish now has a beer that is aiming to take the gluten-free beer space and transform it into the “natural beer” category. Soonish-Natural Beer is made using banana, millet, sorghum, and honey, but rather than resulting in a f...Read more
Dogfish Head releases oat-milk hazy IPA beer
1 Jun 2021
It’s only been a few years that oat milk has been on grocery store shelves, but the plant-based milk alternative has made waves with its latest inroads being in the beer sector. In partnership with oat milk maker Elmhurst 1925, beer brand Dogfish Head ...Read more
Consumers prefer no rather than low-alcohol
10 May 2021
Beverage market analysis firm IWSR expects the no- and low-alcohol category to grow 31% by 2024, according to a new report that reviewed 10 key markets representing 75% of the global consumption of these beverages. The anaylzed markets were Australia, ...Read more
Startup Bevry takes first mover advantage in Indian oat milk category
5 May 2021
Indian startup Bevry has developed its own oat milk formulation, which it is manufacturing and selling exclusively in India with the goal of becoming the “Oatly of India.” According to the company, it is the first brand to manufacture and sell an oat-b...Read more
Sugar tax in South Africa results in ‘positive changes’
23 Apr 2021
A study published in The Lancet found that following the 2018 implementation of a 10% tax on sugar-sweetened beverages in South Africa, the overall consumption of sugar from these beverages fell 35% from 16.25 grams per person daily to 10.63 grams per ...Read more
Topo Chico finally debuts its hard seltzer
1 Apr 2021
Molson Coors Beverage Company, which is exclusively manufacturing Topo Chico Hard Seltzer through a brand authorization agreement with Coca-Cola, finally released the concept onto shelves on March 29 after announcing the development of the brand in Jul...Read more
Chobani enters into pilot program with PepsiCo
30 Mar 2021
Greek yogurt maker Chobani recently entered into a distribution partnership with PepsiCo to sell its new yogurt drinks at convenience stores, colleges and universities in the northeastern part of the U.S. In the original report on this news, Bloomberg ...Read more
Danone revamps itself, ousting CEO and adding to its portfolio
24 Mar 2021
As Danone continues to face pressure both from industry competition as well as activist investors, the company has decided to separate its chairman and CEO roles, which are currently held by Emmanuel Faber. Additionally, Danone is searching for a new C...Read more
Are you a supplier?
Here's what we can do for you
- Generate quality leads for your business
- Stay visible for 365 days of the year
- Receive product inquiries and respond to meeting requests directly
- Improve company online presence through Search Engine Optimisation