Cash Flow: Elvie Adds To Series C Round, Metabolic Health Startup Calibrate Snags $100m, iFIT Files For IPO

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

Elvie ups Series C round to $97m

Revolutionary global health and lifestyle brand Elvie has added an additional $17m to its Series C funding round.

The original round, led by BGF and BlackRock alongside existing investors including Octopus Ventures was topped up by funds sponsored by the co-founders of Blume Equity and existing investors IPGL, Hiro Capital and Westerly Winds.

Capital will be used to drive growth through new markets, and to diversify its product portfolio to target other “key stages” in women’s lives.

Doctor Anywhere raises $65.7m to boost presence and capabilities

Singapore-based healthcare company Doctor Anywhere has raised $88m SGD (approximately $65.7m) from investors including Asia Partners, Novo Holdings, Philips and OSK-SBI Venture Partners.

The startup, which delivers a range of services through its mobile platform, such as online consultations, medication deliveries and an in-app marketplace for health and wellness products, plans to use the funding to boost its presence in its current markets and expand into new ones. It also plans to scale its tech infrastructure and big data capabilities for a better online-to-offline user experience.

IFIT files for an estimated $800m IPO

Connected fitness equipment seller iFIT Health & Fitness has filed for an estimated $800m IPO, according to Renaissance Capital.

The US-based company, which generated $1.7bn in sales over the past 12 months ended May 31, 2021, plans to list on the Nasdaq under the symbol IFIT.

Metabolic health startup Calibrate snags $100m

Calibrate, a digital metabolic health startup, has raised $100m in a Series B round co-led by Founders Fund and Tiger Global. Optum Ventures also participated in the round, which brings Calibrate’s total funding to $127.6m.

The capital will be used to start testing Calibrate into enterprise channels, as well as expanding its telehealth platform.

Plantible raises $21.5m to redefine the future of food

Food-tech company Plantible Foods closed a $21.5m Series A funding round led by Astanor Ventures, a global leader in agrifood impact investing.

Other participants in the round included Piva Capital, CJ CheilJedang, Good Friends, Bradley Horowitz (SVP of Product at Google), Trevor Martin (Founder of Mammoth Biosciences) and Chris Bryson (Founder of Unata) along with returning investors Vectr Ventures, Lerer Hippeau, eighteen94 capital (Kellogg Company’s venture capital fund), FTW Ventures and Unshackled Ventures.

With the money raised the company will build its first commercial facility to launch and commercialise its product in 2022.

WHOOP acquires PUSH, a velocity-based training coaching solution

Next-gen health tracker WHOOP has acquired PUSH, a Toronto-based sports technology startup in a cash and stock transaction. The two wearable technology companies are built on a similar foundation of sports science and physiological research with a shared focus on delivering personalised data, actionable insights and demonstrable health improvements.

“Many of the members and organizations we serve have long asked for additional insight into the physiological impact of weightlifting and functional fitness,” explained Will Ahmed, WHOOP Founder and CEO. “The integration of PUSH’s industry-leading strength-training technology into our platform will allow WHOOP to provide even deeper insight into how these activities impact the human body.”

Healthy beverage brand The Naked Collective banks £5.3m

Healthy beverage brand The Naked Collective has raised £5.3m to support its global expansion.

The Irish founded company, which raised £5.14m last year is currently stocked in over 4,000 retailers including Spar in Ireland, Sobeys retail group in Canada, Dimar and Iperconad in Italy and WH Smith stores in the UK.

Its functional drinks include drinks Mude — an immune and mood-boosting range of vitamin waters and So.Beer — a non-alcoholic light lager with built-in immune support.