The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
Xponential Fitness plans IPO
Xponential Fitness, a curator of boutique fitness brands including Club Pilates and Rumble, has reignited plans for a US initial public offering which may value it at approximately $1.3bn, according to Bloomberg.
The company, which has put its plans on ice due to the pandemic, posted $435m in revenue from franchisees in 2020, despite the challenging landscape.
Wild Nutrition Banks £5m from Piper
UK-based supplement brand Wild Nutrition has secured a £5m investment from Piper, to grow its team, drive online growth in the UK, build on its international business and bring out a range of innovative new products.
The startup, which is stocked in premium high street retailers such Selfridges, Harrods, Wholefoods and Planet Organic, has seen its online sales grow by 124% over the last year, especially via monthly subscriptions.
Atlast raises $40m to expand production of plant-based meat
Atlast Food Co., which aims to grow the future of plant-based meats, has completed a $40m Series A round to develop and supply whole cut plant-based meat to partners around the globe. Viking Global Investors led the round with participation from 40 North, AiiM Partners, Senator Investment Group, Stray Dog Capital, Footprint Coalition Ventures, and others.
The announcement comes after a year of immense growth for Atlast. The company launched its first product on store shelves in November 2020 and is already working with major brands to supply its plant-based bacon product at commercial scale.
Wype to launch crowdfunding campaign for world’s first refillable and reusable toilet gel applicator.
The eco-friendly alternative to wet wipes is on a mission to redefine toilet time by opening the conversation, closing the door on single-use plastic, and creating innovative products with a purpose.
Therabody acquires smart muscle stimulator, PowerDot
Therabody, the creator of the Theragun, has acquired the world’s first Smart Muscle Stimulator, PowerDot. The PowerDot acquisition underscores Therabody’s commitment to democratising medical technology that has historically only been available to elite athletes and leading medical professionals.
“The integration of PowerDot’s clinical technology complements and further expands our product line, making cutting-edge, natural alternatives to traditional medicine available to everybody,” explained Benjamin Nazarian, CEO of Therabody.
Free Soul attracts seven-figure investment from Sonny Arora
Free Soul, a rapidly-growing female-focused wellness business, with a strong D2C offering, has attracted a seven-figure investment from Sonny Arora, a successful investor in European health and nutrition startups.
Launched in 2018 by Arjun Sofat, a former investment banker, who joined forces with Associate Professor and Clinical Nutritionist Dr Cunliffe, PHD (RNutr), to develop a range of wellness products to meet the unique nutritional needs of women, the company has seen triple-digit growth year on year and successful international expansion.
Vegamour raises $80m to scale clean hair brand
Direct-to-consumer, clean hair wellness brand Vegamour has raised $80m in funding from General Atlantic, a leading global growth equity firm. The Company will use the new funds to further its organic e-commerce growth, launch additional products and expand into new channels and geographies.
As part of the transaction, General Atlantic’s Andrew Ferrer and Lexie Bartlett will join the Vegamour Board of Directors as the brand looks to scale globally
The startup, which has already raised more than $75m, for its smart mattresses, which automatically adjust temperature according to a user’s body characteristics and sleeping habits, will move to Miami to be run alongside SoftBank’s $5 billion Latin America fund.
MunchFit fuels up with £1.2m through equity crowdfunder
MunchFit, a startup providing healthy meals to luxury gym Equinox and boutique studio Barry’s, has closed a £1.2m crowdfunding campaign via Crowdcube, after attracting substantial investor interest.
The upmarket goal-based meal service, which helps to accelerate training results by taking the guesswork out of what to eat, secured equity investment from 330 “Fitvestors” to take the business to the next level.