The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Xiaomi invests in bodybuilding brand I-Fitness
It is reported that the Shanghai-based company, which supplies bodybuilders with equipment and fitness courses, will design fitness courses for users of smart home fitness gear developed as part of the Xiaomi ecosystem of connected products and services, according to a post published on Shunwei Capital’s public WeChat account.
VMG Partners closes $850m growth fund
VMG Partners, a private equity firm focused on partnering with entrepreneurs and managers to support the growth and strategic development of leading branded consumer product and technology companies, has closed an $850m growth fund.
With the closing of VMG Growth Fund V, VMG’s assets under management have increased to approximately $2.6bn.
Its portfolio includes brands such as Drunk Elephant, Quest, KIND and Vega.
Forward Health raises $225m to expand healthcare offering in US
Forward Health, an entirely new healthcare system empowering doctors with technology and data to monitor and guide long-term health, has closed a $225m investment round.
Founders Fund, Khosla Ventures, SoftBank Vision Fund 2, Marc Benioff and The Weeknd, were just some of the investors involved. The funding will help rapidly expand Forward Health’s healthcare system across the US with several new locations slated to open in the first half of 2021.
Functional beverage brand Cloud Water Brands secures $2.7m
Functional beverage brand Cloud Water Brands has secured $2.7m in a seed round featuring participation from B.I.N. Sales and Marketing founder and former Glaceau board member, Bruce Nierenberg and current and former professional ice hockey players, Adam Fox and Scott Mellanby.
The startup, founded in 2019 has earmarked the capital to bolster the distribution of its beverages.
HelloSelf raises £5.5m for digital therapy app
HelloSelf, a London-based digital therapy startup has raised £5.5m in Series A funding from OMERS Ventures. The capital will be used to build out HelloSelf’s B2B proposition. As part of the deal, OMERS Ventures managing partner Harry Briggs will join the board.
Launched in 2018, HelloSelf functions as a virtual therapy and psychological coach. According to the brand its numbers have spiked in response to the coronavirus pandemic and fresh capital will enable it to better meet demand.