Cash Flow: More Funding For Fertility Startups, Ultrahuman Banks $17.5m, Health-Ade Annouces Acquisition

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

Fertility startup Carrot raises $75m

US-based fertility startup Carrot has closed a $75m Series C fundraising round led by Tiger Global Management, with participation from F-Prime, CRV, U.S. Venture Partners and Silicon Valley Bank. The funding comes less than one year since its Series B raise.

The company, which is on track to serve 450 customers and nearly 1 million covered lives this year — nearly quintupling its growth in the last 18 months — plans to use the capital to improve personalisation and expand its global footprint.

Beverage brand Health-Ade announces acquisition and growth financing

Health-Ade, a pioneer in kombucha beverages, announced that longstanding partner First Bev has acquired a controlling stake in the company. The deal was also backed by investors including Manna Tree. Financial terms of the transaction were not disclosed.

Health-Ade now plans to focus on working to cultivate further growth, capitalising on increasing consumer demand for gut-healthy products and expansion opportunities in retail accounts domestically and internationally.

Fable Foods lands $4.8m for mushroom-based meat alternatives

Mushroom-based meat alternatives startup Fable Foods has raised approximately $4.8m in seed funding, to bolster global production.

The round was led by Blackbird Ventures, with participation from VC AgFunder, sustainability-focused Aera VC, Better Bite Ventures, Singapore-based Ban Choon Marketing and former Sequoia Capital partner, Warren Hogarth.

Founded in 2019, the Australian company, which has already launched in Singapore and the UK, now plans to expand into the US.

Maven Clinic raises $110m for women’s health

Maven Clinic, a virtual clinic for women’s and family health, closed a $110m Series D funding round, co-led by Dragoneer Investment Group and Lux Capital, with participation from BOND and existing investors Sequoia, Oak HC/FT, and Icon Ventures. Oprah Winfrey also joined the company as an investor, helping to bring its total funding to more than $200m to date.

Maven will use its Series D financing to expand into new populations and to invest in additional product innovation.

Investors pour $17.5 into metabolic fitness platform Ultrahuman

Fitness platform Ultrahuman closed a $17.5m Series B fundraise featuring Alpha Wave Incubation, Steadview Capital, Nexus Venture Partners, Blume Ventures and Utsav Somani’s iSeed fund.

Several founders and angel investors also participated in the Indian startup’s Series B round, bringing its total raised to date to $25m.

The company, which has operated as a fitness subscription platform since 2019, plans to launch a new fitness tool designed for monitoring metabolic activity by tracking the user’s glucose levels. It will use some of the fresh capital to make improvements to the quality of the glucose biomarkers ahead of a full product launch.