The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Vitruvi raises $4.5m to dominate $5bn scent market
Vitruvi, a startup selling natural scent solutions including essential oils, diffusers and mists, has
Launched by siblings Sara and Sean Panton three years ago, the brand retails via Goop, Sephora and Nordstrom. However, it claims that the majority of its sales are generated direct-to-consumer.
“We’re essentially replacing the designer candle,” Sara Panton recently told Forbes. “We’re creating the experience of a luxury candle but in a way that is more sustainable because you’re investing in a single product for each room of your home and then able to customize aroma. Not only are those aromas non-toxic, they actually have health benefits to them.”
With its latest funding, the plan is to invest in product innovation, digital experience, strategic partnerships and creating comprehensive sustainable home scenting systems.
“We really think about the customer’s journey through switching to natural-based products — that started with food ten years ago and has moved to clean beauty, and we feel very strongly that the third frontier is what’s around you — air care,” Panton told Forbes. “Fragrance-free, natural and non-toxic home scenting is something that Vitruvi will be the leader in — through education and products.”
ClassPass acquires fitness startups, Clickypass and MuvPass
“ClassPass has made significant progress in Latin America since entering Brazil in December 2019,” said Clickypass international vice president, Chloe Ross in a statement. “Clickypass and MuvPass have achieved great growth in recent years. We are pleased to welcome your teams, members and partners to ClassPass, as we continue to drive our expansion in Latin America, ” she added.
The news follows ClassPass’ recent $285 million Series E investment, to accelerate international growth and scale corporate program. The round, which was led by L Catterton and Apax Digital, with additional participation by existing investor Temasek, follows the successful expansion by ClassPass into 28 countries and the signing of more than 1,000 leading employers into its corporate wellness program.
Rosy Raises $1m in seed funding, as it joins sexual wellness revolution
Rosy, an evidence-based technology platform providing education and resources for women with low sexual desire, announced it has raised $1m in a seed round of funding.
Designed by doctors and built by technologists, the app offers a sexual wellness score, access to an extensive library of educational videos, erotic stories, guided classes, and a community where women can talk openly about their sex life. Its holistic approach aims to not only improve sexual function, but also to improve self-esteem, overall health, and strengthen relationships.
The women’s health technology company secured funding from angel and VC investors, including Alex Snodgrass, founder of The Defined Dish, James Beshara, founder of Tilt, Laura Baldwin, managing director at Golden Seeds, and VC funds Joyance Partners and Social Starts.
“When you meet Lyndsey, it’s apparent that she is on a mission to make healthcare resources more accessible to women by using technology,” said James Beshara, investor and Founder/CEO of Tilt. “I had no idea this issue was so prevalent. Women don’t have even close to the same number of resources as men, and investing in companies like Rosy is essential for closing that healthcare gap.”
Powerful Foods receives $5m capital investment to support growth
Powerful Foods, a high-protein food and beverage brand has received a $5m capital investment from MMG Equity Partners to o further expand into additional product categories and continue to grow in the explosive market of high-protein products.
According to the brand, the new venture promises growth, innovation, and a resurging opportunity for the business to push boundaries and continue to provide healthy, satisfying, and great-tasting natural products.
“We could not be more thrilled to partner with MMG to take Powerful Foods to the next level,” said Carlos Ramirez, CEO and founder of Powerful Foods. “The opportunities for our high-protein, great-tasting offering has expanded greatly as consumers look to incorporate high-protein products into their diets, creating a significant and growing marketplace for our platform. We are thrilled, but not surprised, that a prominent private equity firm like MMG recognizes the tremendous potential of our brand and the passion behind it.”
Launched in 2013, the brand’s products including oats, yogurts and smoothies are stocked in over 12,000 stores across the US, with the company positioning itself as a fast-moving, quick-to-innovate partner that can attract millennial and health-conscious consumers to store aisles.