Cash Flow: Gympass Acquires Trainiac, Blackstone Acquires Majority Stake in Supergoop!, Oddlygood Scores $28m

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

Gympass acquires 1-on-1 personal training platform Trainiac

Gympass, the world’s largest corporate wellbeing platform, has acquired Trainiac — a leader in 1-on-1 online personal training — it will now become Trainiac by Gympass. Financial terms were not disclosed.

The move will add a new level of personalisation to the Gympass experience; helping users to establish new habits and long-lasting fitness routines, as well as adding significant value to Gympass’ corporate clients looking to support an increasingly decentralised workforce.

Blackstone Acquires Majority Stake in Supergoop!

Asset Management company Blackstone has entered into a definitive agreement for a majority investment in Supergoop! — a protective skincare brand that puts SPF at its forefront. 

Founder Holly Thaggard, Supergoop!’s CEO Amanda Baldwin and the existing senior management team will continue to maintain significant equity ownership in the business alongside Blackstone. The investment will help fuel Supergoop!’s commitment to launch category-creating innovations, drive consumer behaviour change through education and best-in-class brand marketing and expand the company’s national and global reach.

PureGym secures £300m investment to drive global expansion

Low-cost gym chain PureGym has raised £300m through an equity deal with investment firm KKR. The funding will support PureGym’s growth plans, including global expansion in markets including the US, Asia and the Middle East.

KKR will become a ‘significant minority investor’ in the business, with current backers, Leonard Green and Partners, retaining a ‘majority ownership position’.

Cult.fit acquires line up of cardio equipment brands

Fitness and wellness startup Cult.fit has acquired at-home cardio equipment brands RPM fitness, Fitkit and Onefitplus, in addition to outdoor cycling brand Urban Terrain. Financial details of the transaction have not been disclosed.   

“This acquisition enhances our product portfolio of at-home smart exercise equipment. We now have a range of options at all price points, starting from simple air bikes for Rs 5,000-7,000 to premium bikes for Rs 50,000,” said Shamik Sharma, Head Digital Health, Cult.fit.  

“The fitness hardware market is expanding around the world, and we strive to bring the best innovation to our customers. Cult.fit is building the largest house of fitness D2C brands in the country, having the biggest community of fitness enthusiasts.” 

Israeli plant-based alternative meat producer Future Meat Technologies raises $347m

Future Meat Technologies (Future Meat) has raised $347m in a record-breaking funding round for the cultivated meat category.

The round, co-led by ADM Ventures — the venture investing arm of ADM, a global leader in human and animal nutrition — also included participation from industry leaders Tyson Ventures, Rich Products Ventures and others.

According to Future Meat, which opened the world’s first cultivated meat production line in Israel earlier this year, it is now scouting several locations in the United States for a projected large scale production facility that will bolster its global rollout.

Oddlygood scores $28m for plant-based f&b products

Oddlygood, which aims to be a leader in plant-based f&b products, has closed its first round of financing. Mandatum Asset Management will invest $28m in the company. 

Back by fresh capital, the Swedish company plans to take the next step in its growth plan across its current markets as well as in new ones — accelerating the implementation of its growth strategy and deepening its business development expertise.

Nutrition brand nuut secures over $300K in a crowdfunding campaign

Australian protein company nuut has wrapped up its first equity crowdfunding campaign through Birchal.

The campaign saw nuut raise almost $330K/AUS, with over 90 investors, 30% more than the target amount. This favourable result lays the foundation to launch the brand in the US and release new lines in 2022.

Womanizer commits to investing £250k in women’s sexual wellness

Pleasure brand Womanizer has committed to investing £250,000 over the next five years in research in the field of health, sexual well-being and sexual pleasure of exclusively female subjects. 

This money will be allocated to women researchers and physicians around the world who are looking to conduct studies in these areas. The first study will be implemented in collaboration with Berlin’s Charité hospital.