Cash Flow: Imperfect Foods Secures $72m, Fitness App Keep Gains Unicorn Status

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

Imperfect Foods closes $72m funding round led by Insight Partners.

Imperfect Foods, a startup which aims to reduce food waste by ‘rescuing’ imperfect or excess products, has closed a $72m Series C funding round led by Insight Partners.

According to the company, the capital will be used for continued expansion of its grocery delivery service across the US, as well as to extend its product range. 

Prior to this round, the San Francisco-headquartered business had raised $47m from investors including NBA star Kevin Durant’s Thirty Five Ventures company.

Big Sky Health secures $8m to accelerate growth of its fasting app Zero

Big Sky Health — the creators of fasting app Zero have secured $8m in Series A funding, led by Greycroft. Prior to this round, Big Sky Health raised $4.2m in funding from True Ventures, Trinity Ventures and notable individual investors including Tony Gonzalez, Matt Mullenweg, and Mark Pincus.

Since launching in 2017, Zero has recorded over 1.5bn hours of fasting across nearly 100 million completed fasts. The company has enjoyed accelerated growth with active users increasing by 500% since 2019 and 37m fasts already recorded in 2020. It says that the increase in consumer usage coupled with its brand vision set the stage for its latest funding interest.

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

Image: Zero Fasting

Chinese fitness app Keep banks $80m and secures unicorn status

Chinese fitness app Keep has achieved a $1bn valuation after raising $80m in a Series E funding round led by China-focused growth-stage investor Jeneration Capital Management.

Founded in 2014 as a platform providing course content, since then the business has expanded to provide multiple fitness services including workouts, challenges and products for more than 200m users

This is the seventh funding round for the brand over the past six years, bringing its total funding to date to $267m.

Group wellness activity app Magic Mountain announces £500k funding

Magic Mountain, a new group wellness activity app, has raised £500,000 in funding over the past six months, including £250,000 in April alone.

The app, which officially launched on 18th May, is a socially interactive tool which allows users to set activity-based goals, share them with other individuals and collaboratively track progress. 

Launching during a period of unprecedented uncertainty, the app aims to provide people across the UK with a solution for maintaining their physical wellbeing and connectivity with friends, family and colleagues in the wake of social distancing measures and relative isolation.

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