danone fund invests in german home mineral water machine

by:Yucai     2019-12-12
PARIS (Reuters)-Danone (DANO. PA)
Manufacturers of Evian and Volvik are investing in a German company to develop a purifier that will allow families to turn tap water into mineral water, as the French group seeks ways to adapt to the growing demand for healthy food and beverages. Berlin-
London-based Mitte told Reuters it had raised $10. 6 million (8.
22 million)
In the round of financing by Danone\'s corporate leaders, a newYork-
Established in 2016, the fund invested in the company to respond to changes in consumer tastes of food and beverages produced in a way that protects the environment.
Supporting a company that might cause some consumers to give up bottled mineral water seems to be counter-intuitive, but Laurent Marcel, head of Danone\'s manifesto venture capital, disagrees.
\"We don\'t see Mitt as a threat,\" Marcel said . \" \"We think there is still a bright future for bottled water, and we think that Mitte offers a complementary solution that will contribute to the overall growth of the water category.
According to Euromonitor, the global bottled water market will increase from $250 billion in 2021 to $210 billion by 2017, and as consumers stay away from carbonated drinks, the government urges people to eat less sugar.
But consumers are becoming more aware of the destructive effects of plastics, millions of tons of food packaging and bottles are eventually piled up in the area and in the ocean, and companies around the world are trying to improve their green qualifications.
Danone declaration joint venture acquired a minority stake with Singapore
Based on VisVires New protein fund and Karcher New Venture, Venture capital division of cleaning technology company Alfred Karcher SE & Co
Mitte was established in 2016 with the goal of mid-2019.
It cleans both tap water and adds minerals through cartridges. HEALTH-
Conscious consumers, it plans to use these funds to fund American expansion, especially in the health sector --
Moritz Waldstein, founder and CEO of Mitte, said conscious California and Europe.
Waldstein said: \"Mitte\'s mission is to improve life with healthy water in environmental protection systems.
\"We will start by focusing on countries like the United States. S.
Although we want to build a global presence.
Danone, the third in the world
The biggest bottled water company after NestleNESN. S)
Rival food and beverage companies have fallen into a fierce competition to try to enter the home of more environments --and health-
Conscious ConsumersPepsiCo (PEP. O)
Said last week to buy carbonated drinks
SodaStream soda, machine manufacturer. TA, SODA. O for $3.
2 billion because it fights CocaCola (KO. N)
Take advantage in the beverage market.
Mitte has not yet determined the cost of its system.
Mitte said they received 429 euros in revenue at last year\'s kickstarter event, but retail prices could be lower once it is launched. The start-
Up expects its cartridges to last 250 liters before it needs to be replaced, reducing the typical cost of bottled water.
Danone\'s main brand, Evian, retails at 41 cents a litre in some stores in Paris.
A dedicated mobile app will allow users to distribute water at a specific temperature, monitor the level of the ore box, and order a new ore box.
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