Cash Flow: Little Otter Raises $22m, Myzone Hits $102m Valuation, Cultivated Dairy Startup Remilk Lands $120m

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

Little Otter raises $22m to advance mental health for children

Little Otter, a digital mental health company providing tools and treatment for both children and their families, has closed a $22m Series A fundraise. The round was oversubscribed and led by CRV, with participation from Torch Capital, Vast Ventures, Hinsdale, Boxgroup, _Able, Carrie Penner Walton, G9, Springbank Collective and strategic angels. 

The new financing brings the company’s total funding to $26.75m.

Cultivated dairy startup Remilk lands $120m 

Remilk, a food startup reimagining the dairy industry, has secured $120m in Series B funding, led by NY-based Hanaco Ventures. The funding establishes Remilk as a primary player in the emerging cultivated dairy category and enables the company to immediately scale production of its dairy-identical milk protein for commercial use by manufacturers in traditionally dairy-based products including cheeses, yoghurt and ice cream.

Fit tech company Myzone hits $102m valuation

Myzone, a company making wearable fitness tracking technology, has secured $17.2m in funding from BGF, leading to a $102m valuation.

The brand, which currently serves over 9,000 facilities in 84 different countries, and has shipped over two million devices, will use the fresh capital to accelerate growth plans.

Emotional wellness app Mine’d secures $3.5m

Emotional wellness app Mine’d has secured $3.5m in seed funding in a round led by Listen Ventures. WNDRCO and Able Partners, Joyance Partners, Route 66 Ventures as well as various angel investors also participated. 

The app, which features live and on-demand classes for users across topics including dating, breakups, career and purpose has already built a community of more than 100,000 users and 1 million videos since its launch six months ago. It plans to use the capital to bring on additional experts to its platform, as well as to launch courses and creator tools.

Gousto to bolster next stage of growth with $150m funding

London-based recipe box company Gousto has raised $150m in equity and debt. SoftBank led the $100m equity raise with HSBC and Barclays providing an additional $50m in debt. Funds will be used to bolster long term growth. 

To date, the subscription service has raised $361.5m in funding across 14 rounds.

Foxtrot raises $100m to fund store expansion

Foxtrot, a healthy convenience store based in the US, has raised $100m in Series C funding led by D1 Capital Partners with continued participation from existing investors Monogram, Imaginary, Almanac, Wittington, Fifth Wall and Beliade. The round brings its total funding to $160m.

It will use the fresh influx of capital to open 25 new stores in 2022, as well as to power its internally developed omnichannel operating system via the hiring of new engineering talent, with a plan to triple the team’s size over the next 12 months.

PsyMed Ventures launches $25m fund for psychedelics and mental health startups

PsyMed Ventures has launched a new $25m fund to invest in early-stage startups working on neurotechnology, digital health and precision psychology, as well as those working on psychedelics to help treat mental ailments.

The company has already invested in biotech companies Freedom Biosciences and Delix Therapeutics, both of which are working on using psychedelics to make new medications.