Personalised sports nutrition brand Gainful has raised $7.5 million in new funding to support product and market expansion.
The Series A round was co-led by BrandProject and Courtside Ventures, while additional financing came from investors such as AF Ventures, Round13 Capital, and the founder of Polaris Sports.
Founded in 2017, Gainful was designed to address the lack of accessibility and guidance within the protein supplement industry. The brand looks to bring personalised nutrition based on consumers’ body and dietary needs, fitness habits and goals, with its online protein subscriptions.
The funding comes after Gainful claims it more than doubled its revenue in 2020 and its latest investment will support continued product and channel expansion, as well as in hiring more staff.
The US start-up offers proteins blends precisely formulated using its online personalisation quiz and proprietary algorithm. Its protein powders come unflavoured with the option of adding Flavor Boosts in six different flavours, which are 100% plant-based. Recently, Gainful launched its new Hydration product line: customised electrolyte drink mixes.
Eric Wu, co-founder and COO of Gainful, said: “Each individual’s fitness journey is one-of-a-kind, and we felt that existing brands simply weren’t offering the level of customisation or support needed for consumers to feel confident making progress along their journey.
“Our mission is simple – turning our customers’ effort today into momentum for tomorrow, through personalised nutrition and support. Adding Gainful Hydration will help sustain fitness routines and bolster recovery so our Personalised Protein Powder can work even harder for our customers.”
Andrew Black, CEO of BrandProject and board member at Gainful, added: “Today’s sports nutrition options are outdated, impersonal and confusing—consumers are looking for better solutions, designed to meet their unique needs.
“Gainful is changing this by offering a best-in-class personalised sports nutrition offering. We are excited to continue supporting Gainful in building breakthrough personalised sports nutrition solutions.”
© FoodBev Media Ltd 2020
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