The Coconut Collab bags Series B funding as British firm looks to expand product portfolio in 2024

The Coconut Collab, a British born business which produces a range of, yep, you’ve guessed it, coconut-based products, has closed a Series B funding round, securing a £1.5 million investment.

This comes from its existing shareholders, including Ground Force Capital, a VC in the US.

The Coconut Collab will use the cash as it transitions from its initial startup phase to a scaling phase.

The primary focus is on the UK and Europe, with the aim to disrupt the market and establish a more mainstream presence.

The company was founded by British entrepreneur James Averdieck following the sale of his first venture, Gü Desserts, in 2010. In 2013, he acquired a UK-based ice cream manufacturer, laying the groundwork for the launch of The Coconut Collab.

In 2020, The Coconut Collab secured $7 million in a Series A investment round from Ground Force Capital, formerly known as PowerPlant Ventures, a US-based investment management firm focussed on food and beverages.

The funding enabled the business to unlock growth in the UK and internationally, by accelerating brand marketing efforts.

The Coconut Collab is available in all major grocery retailers across the UK, and is also operating in Ireland, France, Germany, The Netherlands and Austria. It has also been successful in capturing new customers in recent years, such as Virgin and Starbucks.

“The Coconut Collab has demonstrated rapid growth in the ten years since its inception, which has been supported by a rising number of consumers seeking out delicious, quality and, increasingly, sustainable dairy free alternatives,” says Averdieck.

“Our range delivers across all these requirements, with this investment allowing us to continue expanding the business, reaching more customers and realising our ambition to bring the category more mainstream.”

“We take a unique approach within the category: our Coconut Yog is luxuriously thick and creamy, with a sweetness originating solely from the natural sugars found within the coconut and fruits we use. We know that one of the things consumers love about our products is the health benefits, such as how low in sugar they are, combined with the taste and texture.”

“Unlike most of our competitors, we do not add water to our products. Our yogs are made of over 95% coconut, so we do not need to use heavy stabilisers. No nasties and no shortcuts create the creamy and indulgent texture we are known for.”

The range currently includes yogurts, creams, custards, puddings and the newest offering, M!LKTM - a barista style dairy free, plant-based milk.

The Coconut Collab will also expand its product portfolio in 2024, with a number of new launches to be announced.