Cash Flow: $350m For Perfect Day, North Castle Backs Glow Recipe, Femtech App Jennis Secures £1m

The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Perfect Day raises $350m to expand consumer platforms

Perfect Day, the maker of animal-free milk protein, has raised $350m in a Series D funding round intended to fuel the company’s expanded focus across biological engineering, ingredient innovation,and consumer products. 

The round, co-led by Temasek and Canada Pension Plan Investment Board, included strong participation from long-term investors such as Horizons Ventures and Bob Iger, as well as SK, Inc. who deepened its role with Perfect Day in this funding series. The round brings Perfect Day’s total funding up to $750m.

Frame Fitness raises $5m in a seed round led by fitness pioneers

Frame Fitness, an at-home, digitally connected Pilates reformer has closed a $5m seed financing round with substantial oversubscription. Strategic investment was led by Mark Mastrov (founder and former CEO of 24 Hour Fitness), Jim Rowley (CEO of Crunch Fitness Worldwide), Michael Bruno (CEO and chairman of Core Health and Fitness) and Ernie Moody (founder of Action Gaming).

The device, which will be available for presale in early October (with the product delivering in the first quarter of 2022), is intended to deliver a tailored, intuitive experience, bringing instructor interaction and a dynamic community into any space.

North Castle backs beauty brand Glow Recipe

North Castle has made a strategic investment in cruelty-free, clean, fruit-powered skincare brand Glow Recipe. 

The deal, for which the financial details have not been disclosed, will provide Glow Recipe with additional resources and expertise as it looks to propel growth and expand its global presence.

Femtech app Jennis secures £1m in pre-seed funding

Femtech app Jennis, founded by Olympic and World Heptathlon Champion Dame Jessica Ennis-Hill, has raised £1m in pre-seed funding to improve hormonal health for all women and tackle the gender data gap in women’s health. 

The investment was led by Maki.vc, supported by existing investors Venrex and silent angel investors. Jennis aims to become the go-to app for CycleMapping for all women globally.

Playpulse lands $2m to propel gamified exercise

Playpulse, the company behind a gamified exercise bike, has raised $2m in a funding round featuring Courtside Ventures, Initial Capital, and angel investors including Jamie Brooker and Johan Brand from Kahoot, Jasmine Maietta from Peloton and Walter Cruttenden from Acorns.

The funding will be used to finalise the product and grow the brand’s content library through partnerships. 

Upcycled snack brand Spudsy raises $3.3m

Spudsy, a brand that upcycles imperfect sweet potatoes and turns them into plant-based snacks, has closed a $3.3m Series A funding round led by KarpReilly and Stage 1 Fund. 

The funding will accelerate Spudsy’s growth and passion for upcycling by driving trial to new customers through retail expansion and continued support to their retail partners. The brand also plans on utilising the capital to develop its sales and marketing strategies and build out its DTC channel.