The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Calm hits $2bn valuation following $75m investment
Meditation app Calm has raised $75m in Series C financing, valuing the company at $2 billion. Existing investor Lightspeed Venture Partners led the round with participation from TPG, Insight Venture Partners, Marc Benioff, and funds managed by Goldman Sachs Asset Management. This round brings total funding to date to $217 million.
Profitable since 2016, Calm continues rapid growth with over 100 million downloads and 4 million paying members. One primary driver is Calm for Business, the brand’s enterprise arm, which covers more than 10 million lives through employer partnerships.
Men’s health company Ro acquires Workpath
The acquisition will allow Ro to seamlessly integrate virtual and in-person care on its own platform and offer these in-home capabilities to other healthcare companies. The ability to send healthcare professionals to, and conduct diagnostic tests in, a patient’s home will significantly expand the scope of the startup’s vertically-integrated platform and advance the company’s strategy of becoming a patient’s first call for all of their healthcare needs.
Mosa Meat raises $75m in Series B funding round
Mosa Meat, a European food technology company which introduced the world’s first cultured beef hamburger in 2013, has closed an oversubscribed Series B funding round led by Luxembourg-based Blue Horizon Ventures.
The $75m will be used to extend its current pilot production facility at its home in Maastricht, develop an industrial-sized production line, expand its team, and introduce its cultivated beef to consumers.
LemonBox secures $2m to import US vitamins for Chinese consumers
LemonBox, a DTC startup that imports vitamins and health products from the US to sell to Chinese consumers, has secured $2m.
The round featured participation from investors including Partech, Tekton Ventures, Cathexis Ventures, Scrum Ventures and 122 West Ventures.
Funds will be used to grow the business via marketing, improvements to its WeChat app integration and upgrading its supply chain.
Fitness gamification startup Quell banks $3m
London-based startup Quell has raised $3m to help gamify at-home fitness. The round featured participation from backers including Twitch co-founders Kevin Lin and Emmett Shear, TenCent, Khosla Ventures, Heartcore, Social Impact Capital and JamJar Investments.
The startup, which is currently building its own in-house game studio, expects its hardware to start shipping by the end of 2021.