The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Flow Alkaline Spring Water raises $45m in celebrity-backed round
Flow Alkaline Spring Water completed a Series D capital raise, securing $45min funding from investors including musicians Shawn Mendes and Post Malone, former professional baseball star Chase Utley, and former Uber director of engineering, Curtis Chambers. Institutional investors in the round included Ruttenberg Gordon Investments.
The brand aims to sell over 100 million packs of water in 2020, expecting to double its current consumer base of 10 million consumers to 20 million, and enter 2021 with an outlook of owning 10% percent market share of the country’s 189 million premium water buyers.
Smart ring maker Motiv is acquired in bid to revolutionize wearable tech
Proxy, ‘creator of digital identities for the physical world’, has acquired smart ring startup Motiv, to bring digital identity signals to wearables for the first time and revolutionize the way people use technology to interact with the world around them.
“We believe it’s possible to ignite a paradigm shift in how people use wearables to interface with the physical world, so they can do and experience things they never have before,” said Proxy in a statement.
In March 2020, Proxy announced a $42M Series B round of funding intended to help the company expand its solution set and global footprint. Its move into wearables is an important element of that.
Compass Pathways banks $80m for psilocybin therapy
Compass Pathways, a mental health care company, announced the completion of an $80m Series B investment round. The funding will be used to expand its lead programme in psilocybin therapy for treatment-resistant depression, supporting research into additional indications for psilocybin therapy, advancing the company’s preclinical pipeline, developing digital technologies, and establishing new academic and clinical research partnerships.
Investors included ATAI Life Sciences, McQuade Center for Strategic Research and Development, Founders Fund, Able Partners, Camden Partners Nexus, Perceptive Advisors, Skyviews Life Science, and Soleus Capital.
Mindful Chef looks to raise £25m in new fundraising round
Healthy meal kit delivery service Mindful Chef is preparing to raise £25m in new investment, as it experiences a spike in sales amid the coronavirus pandemic.
The direct-to-consumer business, which is being advised on the process by KPMG, expects to secure the cash for a minority stake by the summer, chief executive Tim Lee told The Grocer.
According to the brand, it plans to use the fresh capital to continue to scale the business both domestically and overseas, improve the customer experience and expand into new categories and channels.