Cash Flow: Connected Rower Ergatta Raises $5m, Misfits Market Wins $85m For Ugly Veggies, Menopause Startup Secures $4m

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

Noops launches online backed by $2m investment

Noops, a protein-rich, plant-based organic oat milk pudding has launched online and in select grocery retailers in the UK, following a $2m pre-seed capital round with lead investor, NYC-based 25madison, as well as Unovis/New Crop Capital and Siddhi Capital.

Founded by Gregory Struck, who previously founded Hungryroot, Noops says it is poised to turn the snack world upside down with the introduction of an innovative superfood pudding that’s packed with real ingredients and powerful nutrition.

Vive Organic closes $13m funding round to expand footprint

Vive Organic, makers of doctor crafted, cold-pressed wellness shots, has announced the close of a $13m Series B funding round led by Monogram Capital with participation from Cambridge SPG and Powerplant Ventures

The brand has seen explosive growth since its inception in 2015, with an average of 400% growth year over year. It says its latest backing from industry veterans further validates the growth opportunity within the category and consumer demand more broadly for immunity-boosting products. 

Vive plans on deploying the fresh capital raised to expand its digital footprint, foster its innovation pipeline and make its plant-powered products more accessible to consumers nationwide. 

Connected rower Ergatta raises $5m in a seed round led by Greycroft

Ergatta, an at-home connected rowing machine, has raised $5m in a seed funding round led by Greycroft.

According to Crunchbase, The New York-based startup released its rower in March and quickly sold out of its inventory. It plans to use the new funding to invest in gaming software and content, by adding engineers, as well as building out a marketing team and the startup’s brand.

The rower, which retails for $1,999 was designed with the home in mind — handmade from cherrywood and partly designed by a furniture specialist.

wellness industry funding and investment

Image: Ergatta

Misfits Market wins $85m to deliver ugly veggies

Misfits Market has won $85m in new investment in a Series B round led by Valor Equity Partners, with participation from additional investors including Greenoaks Capital, Third Kind Venture Capital, and Sound Ventures.

The two-year-old startup plans to expand its operations across the US, following a spike in sales due to coronavirus pushing people to look for new ways to shop for food.

The company, which delivers ‘ugly’ organic fruits and vegetables unwanted by grocery stores aims to reduce food waste at a scale that creates a positive and lasting impact.

Menopause telemedicine startup The Cusp raises $4m

The Cusp, a telemedicine service for women navigating menopause, has raised $4m from investors including BlueRun Ventures, Maven Ventures and Startup Health.

The startup intends to roll out an at-home hormone test to leverage the increase in demand for virtual and at-home health care.

Customers can currently order the test, priced at $159, which includes a telemedical consultation and test, which is less than half the price of the average in-clinic test and lab work, according to the company.

Allergy prevention company Ready Set, Food! Secures $3m from Danone Manifesto Ventures

Ready, Set, Food!, maker of all-natural food allergy prevention products for babies, has secured $3m in funding from “Shark” investor, Mark Cuban, Danone Manifesto Ventures and AF Ventures.

The company, which has secured the support of over 500 paediatricians and allergists who recommend the system in their practices, says it will use the capital to help prevent babies from developing severe food allergies to peanut, egg and milk.

London-based seltzer brand Something & Nothing closes first major raise at £450k

Something & Nothing, a seltzer brand using only natural ingredients, has closed its first major raise and joined the Iris Nova family for US distribution, launching in New York and LA in July 2020.

The seltzers, which are naturally low in calories, vegan and come in infinitely recyclable aluminium cans and cardboard packaging, are currently sold DTC in the UK.

During the COVID-19 crisis the brand says it has grown its DTC business by 300%. By partnering with Iris Nova (the parent company of DIRTY LEMON) for US distribution, the brand hopes it can build the beverage company of the future.

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