Cash Flow: Strava Hunts For Investment, Flow Alkaline Water Banks Seven Figures, Urban Closes £6m Round

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

Flow Alkaline Spring Water banks seven-figure investment

Flow Alkaline Spring Water, has secured a seven-figure investment from Virgo Investment Group, which has been earmarked to expand its distribution channels, fund new product lines and accelerate growth.

It follows the completion of a $45m raise in May, which featured participation from musicians Shawn Mendes and Post Malone, former professional baseball star Chase Utley, and former Uber director of engineering, Curtis Chambers.

Icon Health & Fitness lands $200m for connected fitness equipment

Icon Health & Fitness, a US-based maker of connected fitness equipment and software, has raised $200m in a funding round led by L Catterton with participation from Pamplona Capital Management.

The investment will further accelerate its growth strategy of delivering its expansive range of interactive fitness products connected by iFit, the company’s patented content technology and media platform. 

Your.MD raises $30m to expand self-care platform

Your.MD has secured $30m in investment led by leading FTSE 100 global consumer health, hygiene and nutrition company Reckitt Benckiser to grow its self-care platform Healthily.

The news comes as the platform reports exponential user growth of 350% over the last 12 months.

The investment will enable the brand to expand its reach across markets, including the UK, India and the US, as the first stop for personalised, clinical-grade information that individuals can use to manage their health and before contacting a doctor.

On-demand wellness app Urban closes £6m round

On-demand wellness app Urban has closed a £6m funding round on investment platform Seedrs. Alongside 400 Seedrs investors, the startup also attracted £4m investment from BNF Capital, whose portfolio includes Revolut, Guston and AirBnB. 

The business, which has just launched a subscription service that allows companies to provide pre-paid wellness treatments for their employees to have at home, plans to expand to more cities.

Functional water brand Oxigen announces $15m funding round

OXIGEN, maker of pH balanced water boosted with oxygen, has announced the closure of a $15m Series B funding round backed by a roster of notable celebrities and global business leaders including recording artist Brett Eldredge and basketball player Kevin Love. They join Stephen Curry, who was announced as an OXIGEN investor, partner, and face of the brand in August.

The company plans to use the capital to build further brand awareness through increased marketing and to further scale national distribution. 

Strava’s on the hunt for new investors following $1bn+ valuation

Fitness app Strava is rumoured to be looking for new investors following a valuation of over $1bn, according to reports by Bloomberg.

The company, which is said to have hired an adviser, plans to raise up to $400m.

“We are fundraising and anticipate a close in the next few months,” Strava spokesman Andrew Vontz told Bloomberg. “We have no indication of valuation and are excited to keep investing for athletes,” he added.

Nutri-Genetix launches second crowdfunding campaign

Nutri-Genetix, which makes personalised nutrition shakes tailored to individuals’ own DNA for enhanced performance, has gone live with a second round of crowdfunding following a successful first round in December 2019.

The crowdfunding campaign, which went public on the 1st of October aims to raise £150k, to be used for the expansion of the business.