Cash Flow: Tempo Raises $220m, Pai Banks $9m, Lora Dicarlo Launches Crowdfunding Campaign

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

At-home fitness device Tempo raises $220m

Tempo, the first at-home fitness system that uses 3D sensors and A.I. to analyze motion and provide real-time rep counting, form feedback and weight recommendation, has announced $220m in new funding.

The round, led by SoftBank Vision Fund 2, also featured participation from STEADFAST Capital Ventures, as well as returning investors DCM, General Catalyst, Norwest Venture Partners and Bling Capital. This brings Tempo’s funding to nearly $300m to date.

Tempo intends to use the capital on technology development and additional content.

Organic skincare brand Pai banks $9m

London-based organic skincare brand Pai has closed a £6.4m (€7.5m /$9m) Series B investment, led by France-based Famille C Venture  — a private investment firm of the Courtin-Clarins family, founder and owner of the Clarins Group.

The funding will enable the brand to break ground on new R&D and manufacturing facilities in London, to meet the increasing demand for its products worldwide.

Gathered Foods secures $26.35m for plant-based seafood

Gathered Foods, makers of Good Catch plant-based seafood, has secured $26.35m in a B-2 bridge funding round with investments from Louis Dreyfus Company, Unovis Asset Management, Big Idea Ventures and others. 

The strategic funding will allow Gathered Foods to further propel Good Catch plant-based seafood to the forefront of the industry, as well as raise awareness for the trajectory of the plant-based industry’s market growth and popularity. The investment comes after a successful Series B funding round in 2020, in which the company secured $36.8 million. 

Legacy, a digital fertility clinic for men raises $10m

Legacy, a digital fertility clinic for men, has raised $10m in Series A fundraising led by FirstMark Capital. Rick Heitzmann, founder and partner at FirstMark Capital, who is a leader in digital health and has led investment across healthcare including the Series A funding for Ro (officially known as Roman Health Ventures), will also join the Legacy Board. 

The milestone marks over $15m in funds raised from a top-tier group of investors that also includes Bain Capital Ventures, Section 32, Y Combinator, TQ Ventures, and Tribe Capital.

Virtual fitness platform Moxie raises $6.3m in extended seed capital

Virtual fitness platform Moxie has raised $6.3m in extended Seed funding. The round, led by ResoluteVentures, also featured participation from Bessemer Ventures, Greycroft Ventures and Gokul Rajaram.

Funding will enable the live streaming fitness marketplace to optimise its user experience.

Lora DiCarlo Launches Crowdfunding Campaign

Sexual wellness startup Lora DiCarlo has launched a crowdfunding campaign on Republic in a bid to raise anywhere between $25k to $5m.

In 2020, the startup launched its first product and generated $7.5m in revenue (up from $0 revenue in 2019). It plans to use the capital raised to bolster product development.

The Carlyle Group acquires majority stake in Beautycounter

Global investment firm The Carlyle Group has acquired a majority stake in clean beauty brand Beautycounter. 

The partnership will allow Beautycounter to accelerate its strategic initiatives, including increasing brand awareness as well as bolstering the company’s innovative, integrated, omnichannel business model. The transaction values the company at $1bn.

Impossible Foods prepares to go public

Plant-based meat maker Impossible Foods is preparing for a public listing that could value the US-based company at approximately $10bn, according to sources.

Impossible Foods is exploring going public through an initial public offering (IPO) in the next 12 months or a merger with a special purpose acquisition company (SPAC), the sources added.