Cash Flow: Ripple Foods Secures $60m, Millions Raised For Digital Health Startups, Fittr Banks $11.5m

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

HumanCo raises $35m to provide growth capital for portfolio of wellness brands

HumanCo, a mission-driven holding company creating consumer products that help people live healthier lives, has raised $35m in bridge round funding. 

Joining existing Series A investors such as Vista Equity Partners co-founder Brian Sheth and Scarlett Johansson, this new round included 8VC (Joe Lonsdale), JAZZ Venture Partners, PLUS Capital, Dr. Mark Hyman, Indra Nooyi (Former CEO of PepsiCo), Kurt Seidensticker (Founder of Vital Proteins), Nick Green (Founder of Thrive Market), Walter Robb (Former CEO of Whole Foods), Venus Williams and more.

To date, HumanCo’s portfolio includes its health-focused SPAC, HumanCo Acquisition Corp. and three brands: Coconut Bliss, Monty’s and Snow Days.

Ripple Foods raises $60m to expand into new channels

Ripple Foods, a leader in the plant-based dairy alternative space, secured $60m in a Series E funding round led by Rage Capital, Ajax Strategies, and S2G Ventures, as well as additional key investors including OurCrowd, GV, Prelude Ventures, Euclidean, Fall Line Capital, and Tao Capital Partners.

Capital will be used to enable the brand to accelerate innovation and growth across product categories and expand into new channels and global markets.

Fittr completes $11.5m Series A round

Image: Fittr

Fittr completes $11.5m Series A round

Indian-based health and fitness startup Fittr completed an $11.5m Series A funding round co-led by Dream Capital, the Corporate Venture Capital and M&A arm of Dream Sports and Elysian Park Ventures, the private investment arm of the LA Dodgers ownership group. Existing investor Sequoia Capital’s India Surge also participated in the funding round. 

The new capital will enable Fittr to accelerate its growth and expansion into new markets, including North America, the UK and Singapore, which currently accounts for 30% of the company’s overall revenue, while continuing to educate the Indian population around health and fitness.

Alpha Medical raises $24m to further its leadership in women’s health

Alpha Medical completed a $24m oversubscribed series B round featuring SpringRock Ventures, Margo Georgiadis, Outcomes Collective Growth Capital, FMZ Ventures, Samsung Next, Chamaeleon, AV8 Ventures, and GSR Ventures.

The startup, which empowers women to take control of their healthcare by providing the highest quality medical care in a convenient and affordable online process, says it will use the fresh funding to continue revolutionising the way women can access quality care.

Plant-based pudding brand Noops nabs $2m

Noops, a protein-rich, plant-based organic oatmilk pudding brand has secured $2m in a round led by Lerer Hippeau. The latest round gives the company a total of $5m raised to date.

The startup, founded by Gregory Struck, who previously founded Hungryroot, Noops is poised to turn the snack world upside down with the introduction of an innovative superfood pudding that’s packed with real ingredients and powerful nutrition.

The new capital will go towards growing Noops’ distribution channels and network, as well as product development.

Meru Health raises $38m to transform the way mental health care is provided

Image: Meru Health

New Age Meats raises $25m to speed the development of cultured meat

New Age Meats has raised $25m in Series A funding, a crucial milestone that will allow the Berkeley-based cultured meat company to begin production by 2022.

Hanwha Solutions of South Korea led the funding round, with strong follow-on funding from previous investors SOSV’s IndieBio, TechU Ventures, ff VC and Siddhi Capital. Hanwha ranks among the largest business conglomerates in South Korea.

The startup plans to double the size of its workforce,  build a manufacturing facility in the US and perfect the taste of its first product offering — a variety of sausage products.

Meru Health raises $38m to transform the way mental health care is provided

Meru Health, which provides a comprehensive online mental health solution for depression, burnout and anxiety, has raised a $38m Series B funding round led by Industry Ventures. Additional investors in the round include early backers Bold Capital Partners, Freestyle VC, FMZ Ventures and Leksell Social Ventures along with financing provided by J.P. Morgan. 

The new funding, a mix of equity and debt, will be used to accelerate Meru Health’s US nationwide expansion, broaden efforts to partner with healthcare payers and employers, and expand access to a new coaching solution.

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