Funding was led by ADM Ventures and Cibus Fund, with follow on investments from Apater Capital and Henkel X
Personalised nutrition company Remedy Health has raised $11 million in Series A funding led by ADM Ventures and Cibus Fund, with follow on investments from Apater Capital and Henkel X, Forbes has reported.
RiverPark Ventures-backed Remedy Health offers its Nourished line of vitamin gummy products made with its patented 3D printing technology, which are supplied after customers fill in a lifestyle goals questionnaire on the company’s website
Remedy Health stated that the funding will help it enter the children’s nutrition and protein bars market, and expand its production into the US this year.
Remedy Health’s founder Melissa Snover said: “Whilst running my previous business Magic Candy Factory, I recognized the potential for the 3D printing technology I’d developed. I wanted it to make a real difference in people’s lives, but in order to do that, we had to go further than confectionery.”
Ian Pinner, ADM’s senior vice-president and chief strategy and innovation officer said: “ADM has been developing innovative precision nutrition solutions for years. As technology develops, and the ability to personalise nutrition evolves, we anticipate long-term consumer demand will continue to intensify.
“Research we conducted late last year shows 31% of consumers are already purchasing more products tailored to their personal health. And, close to half of consumers report that every individual requires a custom nutrition and exercise plan, regardless of their own unique circumstances.”
Date published: 17 May 2021