The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Ginger announces $100m Series E financing from Blackstone
On-demand mental health company Ginger has secured $100m in a round led by funds managed by Blackstone Growth. This latest round of investment will bring the company’s total funding to over $220m, on the heels of approximately 3x revenue growth over the past year.
With this latest round of funding, Ginger plans to continue expanding access to value-based mental healthcare through additional partnerships with multinational employers and health plans. In the first half of the year, the company also plans to extend its reach to support underserved populations through new government payer relationships and collaborations with non-profit organizations.
Sakara Life raises $15m to fuel expansion into new verticals
Direct-to-consumer, wellness and lifestyle brand Sakara Life has raised $15m from new investors One Better Ventures, Silas Capital (Boll & Branch, Herbivore, ILIA) and existing investor, Annox Capital (ClassPass, Dropbox, Clear).
The company also announced the appointment of strategic investor John Replogle, former CEO of Seventh Generation and Burt’s Bees, as Chairman of its Life’s Board of Directors to shepherd an expansion into new consumer packaged goods verticals.
Sakara is expected to approach $150m in profitable revenue this year and stands as an example of the value consumers place on mission-driven brands.
Danone’s investment arm pours £2.5m into healthy beverage brand Moju
Healthy beverage brand Moju has received £2.5m from Danone’s investment arm, Arsenal football player Hector Bellerin and former retail executives such as Tom Carroll, a former executive of healthy snack company Graze, and Roger Hassan, a former executive of food delivery business Hello Fresh.
The startup, which makes healthy shots, says it is now in the position to invest in growing its presence, driving innovation and investing in sustainability.
LIVEKINDLY Collective raises over half a billion dollars to make plant-based meat global
LIVEKINDLY Collective, a New York-based collection of plant-based food companies, has raised $335m from TPG’s The Rise Fund, Rabo Corporate Investments, S2G Ventures and others. The latest round brings its total funding to $535m.
This round makes the company one of the top three highest-funded and fastest-growing plant-based food companies in the world.
According to LIVEKINDLY, the funding will help accelerate its expansion into global markets such as the US and China. It will also aid in its acquisition of additional companies, key partnerships and new investments.
Men’s wellness brand Manual lands $30m
The funding will be used to bolster Manual’s mission of breaking down the stigma surrounding how men approach their health and wellbeing.
As it continues to expand across Europe, it also plans to develop new products and solutions and build out a vertically integrated healthcare and wellness platform for men.
Telenutrition platform Foodsmart raises $25m in Series C round
Foodsmart, a personalised telenutrition and foodcare startup, has announced a Series C funding of more than $25m led by Advocate Aurora Enterprises — a newly launched subsidiary of Advocate Aurora Health, one of the largest health systems in the United States.
Foodsmart, which combines the largest national network of registered dietitians, personalised meal planning and the broadest food marketplace to make eating well simple and affordable, plans to use the capital to scale its business.
Healthy meal startup MunchFit launches £1m crowdfunding campaign
The company, which currently provides food for gyms including Equinox and Barry’s, also sells direct to customers who can order up to four meals a day, six days a week, with all meals prepared in its London kitchens.
“Today, with over 450,000 delicious and nutritious meals served, we’re ready to take it up a notch. We’re poised to grow revenues and production with exciting new lines of business and huge brand-building opportunities,” said the brand.
The St. James acquires WAAM digital training app
Sports, wellness and entertainment brand The St. James has acquired digital training app WAAM, enabling world-class trainers to connect with athletes and fitness enthusiasts around the globe. Terms of the deal were not disclosed.
The WAAM acquisition expands The St. James’ ability to deliver an omnichannel training and wellness experience, whether one is at the Washington-area flagship complex or at home.