Danone leads investment in functional shot maker Moju

Moju has raised £2.5 million in a funding round led by Danone’s venture arm, marking the first UK-based investment for Danone Manifesto Ventures (DMV).

The round also received participation from new and existing investors, including professional footballer Hector Bellerin, Butternut Box founders Dave Nolan and Kevin Glynn, as well as Tom Carroll and Roger Hassan, former COOs of Graze and Hello Fresh respectively.

DMV has made a minority investment in the company, which plans to use proceeds from the round to accelerate the growth of its functional shots platform.

Moju offers a range of functional shots that aim to provide “alternatives to refreshment-led formats that are heavily compromised by sugar and artificial ingredients”.

The brand’s offerings come in a ready-to-drink 60ml shot format and 500ml multi-serve ‘dosing’ bottles, and include a recently launched prebiotic option.

“The past year has been incredibly tough for the UK, its people and its businesses. We feel privileged to be in a position where, with the support of a new group of investor partners, we can invest across every channel of the business, to increase brand awareness, drive innovation and enhance sustainable sourcing,” said Rich Goldsmith, Moju co-founder and CEO.

“We’re building on the momentum our awesome team generated in 2020, and we’re super excited to accelerate out of the other side of the pandemic where we can help people from all walks of life to optimise their health and daily performance through better nutrition, all whilst reducing our footprint through more sustainable ways of doing business.”

Paul Chifflet, head of Europe for DMV, added: “Moju is a thriving omnichannel business with a smart and strong team that are addressing the fast-emerging consumer needs for natural functional and experiential products. We are excited to be partnering with the team on their next phase of growth.”