UK-based dairy alternatives producer The Coconut Collaborative has closed a Series B funding round, securing a £1.5 million investment.

The company says it will use the investment – which comes from existing shareholders, including Ground Force Capital – to support its transition from its initial ’start-up’ phase to a scaling phase, using “existing momentum to accelerate growth in the coming years”.

The Coconut Collab was established in 2013 by James Averdieck, founder of Gü desserts. He said that the dairy-free brand has demonstrated rapid growth since its inception, partly due to the rising number of consumers seeking sustainable dairy-free alternatives.

Averdieck explained: “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.”

Well-known for its yogurt range, the brand also offers a range of products in other alt-dairy categories including creams, desserts and ice cream. Most recently, it launched a new barista-style coconut milk in November.

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