Cash Flow: Sweetgreen Planning IPO, Nestle To Acquire Nunn, Astrology App Sanctuary Raises $3m

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

Sweetgreen is planning an IPO

US-based, healthy salad chain Sweetgreen is planning an IPO in the US, according to Bloomberg.

According to an anonymous source, the 14-year-old company is working with Goldman Sachs Group Inc. on a listing that could happen later this year.

The company is currently valued at $1.78bn, according to PitchBook.

Laird Superfood acquires snack maker Picky Bars

Laird Superfood has entered into an agreement to acquire healthy snack brand Picky Bars, for a total purchase price of $12m.

The transaction is aligned with Laird Superfood’s strategic goals, specifically the addition of unique and innovative daily-use products across the company’s omnichannel platform, and the acquisition of highly complementary assets such as a recurring direct-to-consumer customer base.

Nestlé Health Science to acquire Nuun, entering the fast-growing functional hydration market

Nestlé Health Science is set to acquire functional beverage brand Nuun. Details of the deal have not been disclosed.

According to Nestlé, the acquisition complements its existing broad portfolio of active lifestyle nutrition brands with Nuun’s range of clean, low-sugar, effervescent tablets and powders.

Nuun

Image: Nuun

Astrology app Sanctuary raises $3m in seed funding. 

Astrology app Sanctuary has raised $3m in seed funding, in a round led by BITKRAFT Ventures. KEC Ventures, Greycroft, Azure Capital Partner, Advancit Capital, Gaingels and Uncommon Denominator also participated.

According to Fortune, the app grew its user base about 500% from the start of the pandemic to the end of March 2021.

Remedy Health closes $11m funding round

Remedy Health, a startup using 3D printing technology to enable the production of personalised health and wellness solutions, such as its gummy vitamin brand Nourished, has closed an $11m funding round. Investors included ADM Ventures and Cibus Fund.

The round brought its total valuation to $71.6m

Supplement subscription company GEM banks $10.5m

GEM, a US-based supplement subscription company, has raised $10.5m from investors including Pat Robinson of CircleUp Growth Partners, S2G and Pentland Ventures.

Founded in 2018, GEM claims to be designed for humankind and backed by science. Its fresh funding will be used to accelerate growth and invest in new science technologies.

Health tech company Huma lands $130m

Huma, a London-based health tech company whose platform powers decentralised care and research, including remote patient monitoring, perioperative support, companion apps, decentralized clinical trials and more, has raised $130m in Series C funding.

The corporate venture arms of Bayer and Hitachi led the round, joined by Samsung, Sony and Unilever’s investment funds.

The capital has been earmarked for building on its partnerships with firms like Bayer and expanding in markets like the US, Asia and the Middle East.

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