Danone's venture capital arm invests in organic coconut water company

by Jeff Gelski
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Harmless Harvest
Harmless Harvest markets fresh organic coconut water produced through a micro-filtration process.
 

PARIS — Danone Manifesto Ventures, the venture arm of Paris-based Danone, has taken a stake in Harmless Harvest, which markets fresh organic coconut water produced through a micro-filtration process. Danone Manifesto, Mousse Partners and existing and new shareholders combined for a $30 million investment.

Laurent Marcel, Danone
Laurent Marcel, managing director of Danone Manifesto Ventures

“Harmless Harvest is a unique U.S. brand with a strong consumer base and a great growth potential in the attractive plant-based category,” said Laurent Marcel, managing director of Danone Manifesto Ventures. “Harmless Harvest and Danone have highly aligned values combining business growth ambitions with a commitment to healthier nutrition and sustainable business practices. We look forward to leveraging our expertise and resources to help Harmless Harvest reach its full potential, while maintaining the unique DNA that has enabled its success.”

Harmless Harvest, San Francisco, is certified Fair for Life, which recognizes sustainable business practices promoting social, agricultural and environmental progress. The company sources coconuts from Thailand. Its product portfolio includes coconut water, coconut probiotics and coconut coffee.

Paris-based Danone in 2016 launched Danone Manifesto Ventures to fund early-stage food and beverage and food technology companies. 
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