Cash Flow: Perfect Day’s $300m Round, Garmin Acquires Firstbeat Analytics, Under Armour To Sell MyFitnessPal?

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

Perfect Day extends series c funding round to $300m

Pioneering animal-free dairy maker Perfect Day has announced the expansion of its Series C funding round to $300m through a new tranche led by Canada Pension Plan Investment Board. 

This follows an initial $140m C round shared late last year, which was met with excitement and additional inbound interest after production breakthroughs in the company’s proprietary flora-made dairy proteins.

Founded in 2014 by CEO and co-founder, Ryan Pandya, and co-founder, Perumal Gandhi — Perfect Day is on a mission to revolutionize how dairy products are made to create a kinder, greener world. Instead of relying on cows, the Bay Area startup utilizes fermentation in microflora to create proprietary ‘flora-made’ dairy protein.

CBD beverage company Infuzed raises $8.6m

CBD beverage company Infuzed Brands has secured $8.6m in funding from an undisclosed investor.

Raised via an ongoing Reg A+ funding round, which is also open to the general public, the money has been earmarked for marketing, investments, sales, strategic supply chain partnerships, and ramping up distribution channels.

Doctor On Demand Raises $75m to expand telemedicine platform

Telemedicine provider Doctor On Demand has secured $75m in Series D financing led by General Atlantic. The capital will be used to accelerate growth and further expand access to its services across the US.

According to the startup, it has experienced accelerated momentum during the first half of 2020, with the COVID-19 pandemic driving demand for its integrated medical and behavioural health services and propelling Doctor On Demand to its 3 millionth virtual visit. 

Garmin acquires Firstbeat Analytics, a provider of physiological analytics for health, fitness and performance

Fitness tracker maker Garmin has acquired Firstbeat Analytics, a privately-held provider of physiological analytics and metrics for consumer devices in the health, wellness, fitness and performance markets, for an undisclosed amount.

As one of the most prominent physiological analytics companies in the world, Firstbeat Analytics has been transforming heartbeat data from consumer devices into meaningful information and advice to enhance performance and wellbeing for nearly two decades.

Garmin says the move will enable it to provide its customers with unmatched technology for greater performance, recovery and overall health.

Under Armour seeks buyer for MyFitnessPal

Sportswear apparel brand Under Armour is reported to be looking for a buyer for MyFitnessPal — a fitness and nutrition app it originally bought in 2015 for approximately $475m.

The company has declined to comment on speculation. However, the rumours come at a time when the business continues to see a slump in sales and a drop in its share prices.