Cash Flow: Hinge Health Closes $600m Round, $65m For Daring Foods, Coca-Cola Acquires BodyArmor

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

Truepill raises $142m to continue transforming consumer healthcare

Truepill, a digital health platform connecting telehealth, diagnostics, and pharmacy to power the future of consumer healthcare, has closed a $142m Series D funding round, with participation from existing investors Initialized Capital and TI Platform Management. 

Truepill, which has raised $256m in total funding to date and has a total valuation of $1.6bn, will use the funding to focus on extending its reach and deploying its services across all facets of healthcare.

Daring Foods closes $65m round to ramp up growth of plant-based chicken brand

Plant-based chicken brand Daring Foods has raised $65m in a Series C funding round led by Founders Fund, with participation from D1 Capital Group and athletes and celebrities including Naomi Osaka and Steve Aoki.

The startup, which is also launching at 3,000 Walmart locations in the US this month will use the capital to continue supporting its rapid pace of growth.

Pregnancy startup Needed secures $5.8m to expand offering

Needed, a perinatal nutrition and education startup secured $5.8m in a Seed funding round led by Seae Ventures. Sekhmet Ventures, Crescent Ridge Partners and Peterson Partners also participated.

The US company will use the money to expand its offerings to address stress, sleep and fertility issues and fund new clinical research on nutrition during pregnancy.

Hinge Health announces $600m investment led by Coatue and Tiger Global

Hinge Health, a US-based company delivering remote support for chronic joint and back pain via wearable sensors, an app and health coaching has raised $400m in a round co-led by Tiger Global and Coatue. At a $6.2bn valuation, Hinge Health is now one of the most valuable companies in digital health.

It plans to continue investing in new ways to improve access and outcomes, create exceptional patient experiences, and avoid unnecessary surgeries.

FemTec Health acquires Birchbox and Mira Beauty

FemTec Health, a women’s health sciences and beauty company focused on using technology and data to transform the total healthcare experience for women has acquired subscription beauty box Birchbox and Mira Beauty, the world’s first universal store and collaborative library for beauty. Financial details have not been disclosed.

Later this year, FemTec Health will announce the company’s innovative consumer offering including the re-launch of Birchbox, shifting the focus from beauty product discovery to curated personalised skin and healthcare products utilising the BiomeAI platform.

N!CK’S lands $100m to expand healthy snack brand

N!CK’S, a Swedish-born, global food-tech innovator of healthy and indulgent snacks and ice cream, has raised $100m in Series C funding in a round led by Kinnevik, Ambrosia Investments, Temasek and Gullspang.

The funding will be used to further bolster North American and European growth, through expansion of brand’s product portfolio, and by doubling N!CK’S store count in 2022. 

RealEats secures over $16m in Series A funding

New York-based meal delivery service RealEats has raised $16.3m in a Series A funding round led by Hamilton Lane on behalf of the New York State Common Retirement Fund, which participated through its co-investment fund managed by the firm.

The capital will help take the RealEats brand national and fuel the company’s product innovation pipeline.

Coca-Cola acquires controlling stake in sports drink maker BodyArmor

Coca-Cola announced it has acquired full ownership of BodyArmor, a line of sports performance and hydration beverages that is incremental to the Coca-Cola beverage portfolio and has significant potential for long-term growth.

In 2018, Coca-Cola initially acquired a 15% stake in the company with a path to full ownership, based on a pre-determined discount. Coca-Cola is paying $5.6bn in cash for the remaining 85% of the company.

Hairstory announces growth equity investment to accelerate adoption of sustainable, detergent-free haircare

Hairstory, a haircare brand with a focus on sustainability, announced a minority investment from global growth equity investor Summit Partners. The partnership will enable the company to accelerate investments in sustainable formulations and packaging, expand its hairdresser community and help more consumers understand that shampoo is the enemy of good hair.