Cash Flow: Peloton’s Latest Acquisitions, Ro Raises $500m, Mondelēz International Acquires Grenade

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

Peloton bulks up with string of acquisitions 

Indoor cycling brand Peloton has announced the recent acquisition of three companies: Aiqudo; an AI-powered digital voice assistant, Atlas Wearables; a smartwatch maker and Otari; a creator of interactive workout mats.

According to Peloton, the acquisitions were made to bolster its talent and technology. 

Healthcare company Ro raises $500m to expand primary care platform

Healthcare technology company Ro has completed a $500m Series D fundraising round led by existing investors General Catalyst, FirstMark Capital and TQ Ventures, with significant participation from existing investors SignalFire, Torch Capital and BoxGroup.

The Series D brings Ro’s total fundraising since its founding in 2017 to $876m. It will use the capital to strengthen its vertically integrated primary care platform, such as expanding its pharmacy distribution network and building new capabilities such as remote patient monitoring with integrated devices.

Happify Health secures $73m to advance and expand digital health platform

Happify Health, a global software-enabled healthcare platform to improve mental and physical health, has announced a $73m capital raise to advance and expand its healthcare platform, focused on digital therapeutics and patient care delivery. 

The investment was led by Deerfield Management Company and included participation from Omega Capital Partners, ION Crossover Partners, and existing investors.

Mondelēz International acquires protein bar brand Grenade

Mondelēz International has announced plans to acquire a significant majority interest in Grenade, a leading UK performance nutrition pioneer in the fast-growing high protein bar segment. Terms of the transaction were not disclosed.

Mondelēz International plans to operate Grenade separately to nurture its entrepreneurial spirit and maintain the authenticity of the brand while providing resources, support and international scale to help accelerate growth.

AllBright acquires US Female hub as it continues rapid expansion

AllBright has announced the acquisition of Chicago-based digital hub ‘EvolveHer’ as it continues to expand its US footprint as part of a rapid global expansion.

The move follows last month’s acquisition of Australian female lifestyle platform The Grace Tales and marks a significant gear change in its ongoing mission to become the leading global career network for women. 

Meatable banks $47m to advance cultivated meat production

Meatable, a cultivated meat startup, has closed a $47m Series A funding round, bringing the company’s total funding to $60m. 

The startup, which finalised its first showcase product in 2020, plans to use the new funds to advance small-scale production and to diversify its product portfolio.

The Pack receives $200k investment from studio partners

London based alt-protein pet food startup The Pack has been chosen as one of eight companies from around the world to join pet care accelerator Leap Venture Studio. As part of the initiative, it has also received a $200k investment from studio partners.

Leap Venture Studio is a partnership between Kinship, a division of Mars Petcare and Michelson Found Animals, with support from R/GA Ventures. It is the first pet care-specific startup accelerator in the industry.

Eat Just closes $200m round to accelerate growth

Eat Just, a tech startup creating healthy and sustainable foods including a popular plant-based egg alternative, has secured $200m in a new funding round led by the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar.

The company, which has raised more than $650m since its founding in 2011, will use the capital to build capacity for its pioneering products; accelerate research and development programs and build its brands in key international markets.

Even raises $1.5m to manage side effects resulting from medication use

Even, a solution for medication-induced nutrient depletions has raised $1.5m in a seed funding round led by Align Ventures, Spring Street Group and GAN Ventures. 

As the first commercially-available nutrition repletion therapy, Even introduces a revolutionary approach to mitigate negative symptoms of essential medications. The wellness startup is on a mission to enrich medication users’ daily quality of life by restoring the nutrients depleted by common medications through its three scientifically-designed products: Even for Birth Control, Even for Antidepressants, and Even for Statins.