The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
PepsiCo acquires minority stake in organic, free-from brand Rude Health
F&B giant PepsiCo has acquired a 9% stake in organic, free-from brand Rude Health.
The deal, for which the amount has not been disclosed, took place in 2019 according to Rude Health — the transaction was not made public at the time. Co-founders Nick and Camilla Barnard, who launched the company in 2005, will remain as the company’s majority shareholders, and in full control of the direction of the company.
According to a statement released by the brand, sales of the startup’s dairy-free drinks alone have increased 120% over the last three years, and are on course to grow to £18m over the next 12 months.
Fitness platform Playbook secures $3m
Playbook, a fitness app aimed at giving content creators the tools they need to cultivate their own community and monetize content directly, has closed a $3m seed round with participation from angels including Giphy founder Alex Chung, StyleSeat founder Melody McCloskey, Eventbrite co-founder Renaud Visage and former head of growth at Uber Ed Baker.
The startup, which currently boasts more than 150 fitness trainers, says it has seen 140% new creator account growth in 2020, in response to the impact of the coronavirus pandemic. And has a waitlist of several thousand creators that want to join the platform
Sexual wellness startup Cake raises $1.4m in seed funding
Cake, a sexual wellness brand based in Los Angeles has raised $1.4m in seed funding from Brian Spaly, co-founder of Trunk Club & Bonobos, Roth Martin, co-founder of Rothy’s, Brand Foundry Ventures, Finn Capital, and others.
Financing will be used to create and manufacture additional product offerings and expand the Cake team.
Protein brand Neat Nutrition looks for £125k
Neat Nutrition, maker of plant-based protein powders, is looking to raise £125k to add to its 2018 raise of £1.46M.
Having sold more than 1m protein shakes since its launch in 2017, the British startup, which has a goal of creating protein powders that taste great and use simple and nutritious ingredients, plans to propel new product development and open up new distribution channels.