The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Nutri-Genetix exceeds crowdfunding target with £300k raise
NGX, the world’s first genetically personalised meal-shake announced that it has reached overfunding in an on-going crowdfunding campaign. The company raised £300k in just five days, demonstrating high investor interest in the growing personalised nutrition market.
After a successful 2021 that saw the brand win no less than six awards for excellence and innovation in nutrition and succeed on British TV investment show Dragon’s Den, the world’s first genetically personalised meal-shake will now be making its way across the pond to take on the US market.
‘Clean’ brand Ilia Beauty acquired by Courtin-Clarins family
Cosmetics brand Ilia Beauty has been acquired by the Courtin-Clarins family for an undisclosed sum, according to reports. The news comes after Ilia gained backing from private investment firm Sandbridge Capital and former investor Silas Capital in a Series B funding round in 2021.
Marketing itself as a ‘clean’ beauty brand, Ilia will give Clarins a window into the growing category. Ilia’s ethos, founded by Sasha Plavsic’s vision to converge science and ‘clean’, is based on the notion that not ‘all natural ingredients are good for the skin, nor is every synthetic bad’.
Moon Juice secures $7m in series C financing
Moon Juice announced it raised an approximately $7 million Series C round, led by True Beauty Ventures. Despite negative press surrounding employment conditions directed at founder, Amanda Chantal Bacon, Moon Juice has become a pioneer of the wellness industry since launching in 2011 leading product innovation across the supplement, food and ‘clean’ skincare categories.
The funding is said to be used to expand into new channels, boost brand awareness and expand marketing efforts for the brand.
RunBuddy raises £400k+ in Crowdcube campaign
RunBuddy, a running app which boasts more than 900 paying users across 25 countries, has exceeded its £400k crowdfunding target – securing more than 300 individual investors.
RunBuddy is described as “a personal running coach in your pocket,” helping any runner to achieve their goals, whether they’re trying to improve their 5k time or training for their first marathon. Targeting the estimated 150M+ runners worldwide, they’re aiming to grow their community with personalised, structured coaching.