- London-based nutrition brand Nutri-Genetix has raised £50,000 for a 15% stake in its genetically-tailored meal shake business
- NGX draws on the science of nutrigenetics to design meal shakes personalised to an individual’s unique DNA
- Investment bank UBS recently predicted the personalised nutrition sector could soon rival the financial clout of plant-based meat
- “Our vision is to create a fitter, healthier and happier world where personalised nutrition products are standard,” said NGX CEO Jeremy Poland
LONDON, United Kingdom — The makers of a genetically tailored nutrition shake have secured celebrity investment on British television’s Dragons’ Den, underlining the growing appeal and potential of the personalised nutrition market.
On last week’s show, Jeremy Poland, CEO of Nutri-Genetix (NGX) took on the Dragons and walked away with a combined £50,000 from renowned entrepreneurs Peter Jones and Touker Suleyman for 15% of the business.
“The Den has seen a large number of supplements and meal replacements, but we were able to show the Dragons a detailed level of innovation with our personalised nutrition,” Poland said of the nerve-wracking experience.
The world’s first genetically personalised meal shake
NGX’s success follows that of British superfood business Super U, which recently earned similar investment and brand exposure on the BBC show.
However, Poland believes that by harnessing the science of nutrigenetics — which uses a simple DNA cheek swab to reveal how people metabolise and process different nutrients based on their genetic make-up – its product will pave the way for the future of personalised nutrition.
“Our vision is to create a fitter, healthier and happier world where personalised nutrition products are standard,” said Poland. “We created NGX because people are genetically unique and have unique nutrition requirements.
“Genetic mutations can reduce a person’s ability to process and absorb nutrients, resulting in a need to consume more than the amounts recommended by daily food guidelines. A DNA nutrition test and report can reveal your requirements, but that’s just the start.
“That’s why we created NGX. A simple and convenient meal-shake that has more of the ingredients you need, so you can easily hit your daily nutrition targets.”
The future of personalised nutrition
NGX believes it is positioned at the centre of three multi-billion-dollar, fast-growing global markets: meal shakes (valued at $24.8 billion and growing at a rate of 7% CAGR), DNA testing ($19 billion and 9.8%) and the fitness industry ($96 billion and 3%).
Recently, investment bank UBS also claimed the personalised nutrition sector could soon rival the financial clout of plant-based meat, growing to a global value of $64 billion by 2040, reflected in the success of disruptive startups such as Lumen, Levels, WHOOP and Vessel.
NGX has also prospered. The company reported near triple-digit month-on-month revenue growth in the first half of 2021, selling over 100,000 meals, while also securing partnership programmes with global brands including AMEX and AXA.
Now, Poland is banking on the personalised nutrition trend accelerating. On the BBC show, he outlined the company’s year five target of a £150 million exit valuation, benchmarked against the industry, and forecast returns on investment over 30x.
“Our mission is to build and sell a £150+ million company that is the most sought-after personalised nutrition brand in the industry so that we can deliver huge rewards to the shareholders that join our cause and believe in our vision,” Poland said.
NCX says it intends to use the Dragons’ Den investment as startup capital to propel the brand into the UK market and help it achieve its goal of making personalised nutrition available to everybody, globally.
Before the TV appearance, NGX had reportedly raised £180K and £450K across two rounds of funding. The company plans to open its next investment round in Q4 2021.