SMP advised the French investor Five Seasons Ventures.
Vly, provider of a pea-based milk alternative, has secured an investment of EUR6.1 million from FoodTech investors Five Seasons Ventures, alongside previous investors Global Founders Capital and Good Seed Ventures.
The Series A round will primarily be used to capitalise on vly’s growth to date, cementing itself in its existing markets before fuelling further expansion into international markets. The team of 15 based in Germany will be hiring across research and science, product development, marketing and sales, aiming to be 40 by the end of 2021. Vly will continue to grow its R&D platform and expand into further product categories such as its chocolate drink and fermented products that will launch in 2021.
vly was founded in 2018 by Nicolas Hartmann, Niklas Katter and Moritz Braunwarth. Ever since, the company has been pursuing its mission to revolutionize the dairy industry with milk alternatives. vly relies on a pea protein, which can be grown locally and is a very climate-efficient protein supplier. The Berlin-based FoodTech startup researches, develops and produces in Germany. Since 2020, vly can be bought in large supermarket chains and in its own online shop. The company is growing rapidly: by the end of 2021, company has a lineup of new products and plans to double the number of its employees. numerous new products are to be launched and the number of employees is planned to be doubled.
The SMP team included Dr. Benjamin Ullrich, Partner (Picture); Dr. Frederik Gärtner, Associated Partner; Dr. Sebastian Schwarz, Associated Partner; Pia Meven, Associate and Jonas Huth, Associate.
Involved fees earner: Frederik Gartner – Schnittker Möllmann Partners; Jonas Huth – Schnittker Möllmann Partners; Pia Meven – Schnittker Möllmann Partners; Sebastian Schwarz – Schnittker Möllmann Partners; Benjamin Ullrich – Schnittker Möllmann Partners;
Law Firms: Schnittker Möllmann Partners;
Clients: Five Seasons Ventures;