The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Chinese Fitness app Keep raises $360m
Chinese fitness app Keep has raised $360m in a Series F financing round led by SoftBank Vision Fund. Other participation came from Hillhouse Capital, Coatue Management, GGV Capital, Tencent, 5Y Capital, Jeneration Capital and Bertelsmann Asia Investments.
According to TechCrunch, the latest fundraise values the six-year-old startup at about $2 billion post-money.
The company, which says its main revenue driver is membership fees from its 10 million users who receive personalized services, will use the fresh investment to continue building out its ecosystem of at-home workouts, fitness gear and apparel.
Sex-tech startup Lora DiCarlo lands $3.5m
Sex-tech startup Lora DiCarlo has landed $3.5m in a round led by Republic Labs, with participation from investors including Romulus Capital, VU fund, River Bend Capital, Gaingels, and actress Cara Delevingne.
The capital follows the launch of three new products, unveiled at this year’s CES show.
The gender-inclusive, sex-positive company, aims to disrupt this traditionally male-dominated industry, raising the bar to introduce the next level of pleasure tech.
Digital clinic Hinge Health banks $300m at $3bn valuation
Hinge Health, a five-year-old startup that delivers virtual physical therapy sessions for customers with back and joint pain, has raised $310m in Series D funding led by Coatue Management and Tiger Global Management. It is now valued at $3 billion.
As Americans accelerated digital healthcare adoption during the pandemic in 2020, Hinge Health says its customer base tripled, revenue quadrupled, customer retention continued at 100%, and Q4 alone saw a 937% growth in added covered lives.
The capital has been earmarked for investing in deepening its clinical capabilities by building advanced technologies and tripling its clinical team of doctors, physical therapists, and health coaches.
Gut-health nutrition brand Muniq lands $8.2m investment
Consumer health and food-tech brand Muniq has closed an $8.2m Series A investment round led by Alpha Edison, Acre Venture Partners, and other strategic investors including former NBA all-star and investor Baron Davis, and founder of SimplyProtein Cathy Richards.
Muniq uses “food as medicine” to harness the power of the gut microbiome to effectively address prevalent chronic health conditions. The company plans to use the new funding to expand its portfolio of health-transforming products, advance clinical research, build the internal team, and amplify brand awareness.