MOJU, the pioneer and leader of the UK’s high growth functional shots category, has announced the closing of a multi-million-pound funding round led by Danone Manifesto Ventures (DMV), with participation from existing and new investors, including professional footballer and shareholder of Forest Green Rovers Football Club (the greenest football club in the world) Hector Bellerin, Dave Nolan and Kevin Glynn founders of prominent DTC brand Butternut Box, Tom Carroll ex COO of Graze and Roger Hassan ex COO of Hello Fresh.
This is DMV’s first UK-based investment, which is a testament to MOJU’s pioneering work in creating and growing the functional shots category. There is huge potential in the UK market for specialist founder centric investors to support world-class start-up and scale-up businesses at series A and beyond, so this investment is a very positive signal for the wider UK FMCG market and brand owners.
“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,” said Rich Goldsmith, MOJU Co-founder and CEO. “We focus on a harmonized channel approach, using retail and subscription Direct to Consumer to meet the ever-evolving needs of consumers seeking to optimise their health, wellbeing and performance.
“The growth of MOJU has been the result of our focus on a purposeful brand and products that deliver an impactful and memorable experience whilst staying true to our roots of powerful natural ingredients and uncompromising standards of quality.We have built a strong relationship with the DMV team over the last 12 months, they are good people whose intentions go beyond just deploying capital and maximising financial return. Their values closely align with ours and it became clear that they, alongside our group of strategic angels, are the right investors and partners to help us continue to break new ground and fearlessly deliver on the vision and mission of the company.”
MOJU set out to change the way people power their active and busy lives. By providing alternatives to refreshment led formats that are heavily compromised by sugar and artificial ingredients. The company takes a food first approach to supplementation, having introduced a new format of consumption in functional shots, that focuses on nutrient density and preserving the integrity of plant-based ingredients through innovative production methods. The range includes both grab and go and take home formats of the brand’s hugely popular Ginger Shot and recently launched Prebiotic Shot, a first for the gut health category in the UK.
DMV believes MOJU is an exciting and unique brand that was not only early in identifying an emerging consumer movement towards natural function forward products but have also built a brand that brings significant value to its community in many aspects and not the product alone.
“MOJU is a thriving omni-channel 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,” said Paul Chifflet, head of Europe for DMV.
“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.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,” said Goldsmith.