The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Headspace scores $93m in new equity and debt financing
Headspace, the Los Angeles based mindfulness and meditation app, has raised $93m in a Series C funding round led by Blisce, with participation from Waverley Capital and Times Bridge – the global investments and partnerships arm of The Times Group of India – and existing investors The Chernin Group, Spectrum Equity and Advancit Capital.
The new funding, including $53m of equity from participating investors and $40m of debt capital from Pacific Western Bank, will be used to grow its direct-to-consumer business, its rapidly expanding B2B segment: Headspace for Work, and Headspace Health, its bid to integrate mindfulness into healthcare.
Equinox secures undisclosed funding to build out new propositions
In addition to launching as many as 50 new locations annually, including its debut within the Middle East market, the company plans to bolster its recently launched digital platform and launch an at-home SoulCycle bike to compete with Peloton.
“As we accelerate our expansion while delivering a first-of-its-kind online/offline experience for our growing global community, Silver Lake is providing valuable expertise as well as capital to fuel this next stage of growth,” Harvey Spevak, Equinox’s executive chairman, told Bloomberg.
Alpha Foods raises $28m to expand plant-based portfolio
The funding round will support Alpha Foods’ continued growth as an emerging global leader in the plant-based meal category via new product launches, expansion of its distribution channels, and the boosting of its marketing and sales support to increase its touchpoint with consumers.
The brand, which launched in 2018, has already grown its portfolio from four to more than 25 popular vegan and non-GMO products, which are currently available in more than 9,000 stores across the US, including Walmart and Kroger.
However, as more consumers actively seek out plant-based options, it wants to strengthen its hold on the category by bringing its products to a wider audience, revealed Cole Orobetz, co-founder and president of Alpha Foods.
Gisou raises multi-million dollar Series A investment from Vaultier7
The five-year-old startup, launched by fashion and beauty influencer Negin Mirsalehi has revealed it will use the new funding to continue building upon its legacy as a bee-based heritage brand with key ingredients harvested from the Mirsalehi Bee Garden.
In addition to entering new markets and strengthening its foothold in existing ones, especially North America, Gisou also plans to enter into new product categories.
The Vurger Co. wins £1.4m to facilitate expansion
British plant-based burger brand The Vurger Co. has secured £1.4m from private equity Dismatrix Group to bolster expansion, including its first site beyond London.
The startup plans to open two more sites in the first quarter of 2020, the first, located in Brighton will launch in March, with more sites already in the pipeline for later this year.
Having hit its £300,000 crowdfunding goal on Crowdcube in just three days in 2017, the brand’s first site opened in Shoreditch, London in March 2018. A second site in Canary Wharf followed later that year, before the brand launched a range of retail burgers with Planet Organic in 2019.
Rachel Hugh, co-founder of The Vurger Co, told The Caterer: “We are so proud to have reached this huge milestone for our business. This investment will allow us to expedite our growth plans, open new sites and grow our retail business as we head into 2020.