The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Flow Alkaline Spring Water is set to go public
Flow Alkaline Spring Water, a premium wellness water founded six years ago, is planning a reverse merger, with the stock expected to start to trade this spring.
The startup, which has seen its sales surge 44% in the past year, hitting $25m in 2020, is currently sold at 30,000 chains in the US and Canada. It has raised more than than $100m to date and is looking to raise around $50m on the public markets.
Hippeas raises $50m to propel its business mission
The startup, known for its iconic yellow bag with a chickpea smile, hopes the new partnership will propel its mission of disrupting the industry status quo, by driving forward two essential causes: delivering good health and prospering sustainably.
Bioniq Health-Tech Solutions secures $7.85m
European health-tech company Bioniq has closed a $7.85m Series A led by OKS Group, a global venture capital firm providing early-stage investment. The funds will be used for product development as well as market expansion in the Middle East and the USA.
The 2019-founded startup, which has built a data-driven digital health platform for disease prevention and health improvement, “has proven that its subscription-based model of monitoring health and providing personalised solutions is a business model that has a growing global demand,” commented Mark Hannye, Managing Partner of OKS Group.
At-home wellness tracker Vessel completes $8m round
Vessel, a new at-home wellness tracker that helps users access, understand and optimise their health and wellness, has announced the completion of an $8m funding round, bringing its total seed funding to $14.5m.
The round was led by Monogram Capital Partners, with participation from Able, BFG, Cove and Sidekick; alongside angel investors Dave Asprey (Bulletproof 360 Founder), Jared Leto (actor), Jarret John “JJ” Thomas (pro snowboarder) and Kelly Slater (pro surfer).
Vessel, which launched in November 2020 and has sold over 100,000 test cards, allows members to test 10 different health metrics in less than 10 minutes for around $10.
Imperfect Foods lands $95m to reimagine sustainable grocery delivery
Imperfect Foods, a startup reimagining sustainable grocery delivery, has received a commitment to fund $95m in a Series D growth investment. The Series D financing will be led by Insight Partners, who also led the Series C round eight months ago, and Norwest Venture Partners.
Imperfect Foods experienced triple-digit growth in 2020 over the year prior, and exited the year with a revenue run rate in excess of $500m.
Digital health platform Hims & Hers goes public
Digital health platform Hims & Hers, a multi-speciality telehealth platform that connects consumers to licensed healthcare professionals, has completed its business combination with Oaktree Acquisition Corp.
The transaction, which was approved on January 19th by Oaktree Acquisition Corp.’s shareholders, uniquely positions Hims & Hers to lead the rapidly-growing telehealth industry, with a focus on improving the customer experience from start to finish.
Exponent Private Equity to buy a majority stake in Proper
Exponent Private Equity is set to acquire a majority stake in Proper. The move will see the snack startup, formally known as Propercorn, join forces with Exponent’s Eat Real brand to create a new healthy snacking group.
Having generated £24m in revenue in 2020, Proper is now stocked in ten countries and boasts previous investments from Piper and JamJar.