Cash Flow: Ro Acquires Modern Fertility, Eat Just Raises $170M, Drake Invests In Daring Foods

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

Ro acquires Modern Fertility

Healthcare technology company Ro has announced the acquisition of Modern Fertility, a high-growth reproductive health company focused on addressing gaps in women’s healthcare through fertility testing, research, education, and community.

The acquisition represents a dramatic expansion of Ro’s women’s health offering, adding Modern Fertility — one of the fastest-growing women’s health businesses in the country — to Ro’s vertically integrated primary care platform. Following the integration, Modern Fertility co-founders Afton Vechery and Carly Leahy will lead Ro’s women’s health vertical, which will be uniquely positioned to become the first choice for women’s healthcare needs. 

Mental health app Wysa secures $5.5m

Mental health app Wysa has secured $5.5m in a funding round led by W Health Ventures, a Boston-based digital health investor. Google Assistant Investment program and existing investors pi Ventures and Kae Capital also participated.

Wysa will use the capital to support its offering to employers who want to expand their mental health benefits, as well as scale-up Wysa’s sales team and therapist network.

CBD startup Prima closes $9.2m seed plus round to accelerate growth

Plant therapeutics and cannabinoids brand Prima has closed a $9.2m Seed Plus financing led by leading institutional venture firms Greycroft, H Ventures, Defy and Lerer Hippeau.

The landmark funding from top-tier, values-aligned capital partners will support sustainable growth and power upcoming retail expansion, remedy-focused clinical research, portfolio refinements and education initiatives along its path to profitability.

Eat Just

Image: Eat Just

Eat Just raises $170m for cell-based meat 

Eat Just, a company that applies cutting-edge science and technology to create healthier, more sustainable foods, announced today that its GOOD Meat division has raised $170m in new funding. 

GOOD Meat, the world’s first-to-market meat made from animal cells instead of slaughtered livestock, has now become a subsidiary of Eat Just, which announced a $200m fundraise in March.

Drake invests in plant-based chicken brand Daring Foods

A year after Daring’s US launch, the plant-based chicken brand has announced a massive $40m Series B funding round led by D1 Capital Partners. Musician Drake has also joined the round, along with existing investors Maveron and Palm Tree Crew.

Daring will use the funding to triple its internal team by the end of 2021, dramatically scale its rapid retail and foodservice growth, and set the stage for future innovation and product development.

Therabody adds pro footballer Romelu Lukaku to its growing list of high profile investors

Wellness tech company Therabody has added Belgian footballer Romelu Lukaku as an investor in the company and the newest Therabody Athlete. Lukaku joins Therabody’s roster of more than 100 investors globally, including notable individuals spanning the worlds of sports and entertainment, many of whom already incorporate Therabody into their training, recovery, and overall wellness routines.

Weight loss company Noom lands $58m

​​Noom has completed a $58m financing round led by Sequoia Capital. Groupe Arnault’s tech arm Aglaé Ventures, Jan Koum, co-founder of WhatsApp, Tony Xu, co-founder of DoorDash, Josh Kushner, co-founder of Oscar Health, Scooter Braun, founder of SB Projects, and existing investor Samsung Ventures also joined the round. 

As the weight loss platform enters its next stage of growth, it will use the funds to expand its team and improve the customer experience.

Clean energy drink brand Virtue Drinks raises £1.1m

Clean energy drink brand Virtue Drinks has closed a £1.1m funding round to support its ongoing growth and expansion in the UK and internationally. Investors in the business to date include ROMA AS and England National football star, Chris Smalling, as well as several angel investors. 

The brand, which has seen 120% growth in sales year-on-year, is currently available in 30 countries globally.

Until banks $3m for wellness workspace

Until, a members club and workspace for personal trainers, coaches and treatment professionals, has raised $3m as part of its initial fundraise. 

Investors included senior execs and founders from major corporations including Novartis, Bridgepoint, Secret Sales, IG Index and Abacus Insights.

Created and designed entirely for self-employed health and wellness professionals; giving them a new home to run their businesses from, Until will launch in London later this year, with a view to open 15 sites across Europe and the US within 3 years. 

Icon Source completes $1.6m round

Icon Source, a digital marketplace that connects aspiring brands with athletes, closed a $1.6m seed round. The funding will support the company’s expansion as it adds to its sales team, enhances its digital platform and prepares to begin facilitating deals for college athletes on July 1, 2021. 

Participants in the round included both previous and new investors, including Hawke Ventures

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