UK personalised nutrition company, Remedy Health, has raised $11 million in Series A funding.
Founded in 2019, Remedy Health develops patented 3D printing technologies which it uses to enable the production of personalised health and wellness solutions.
The company’s personalised gummy vitamin brand Nourished launched in January last year and is said to offer total customisation. Consumers can complete an online questionnaire which gives them a recommendation of ‘the best’ seven active ingredients to optimise their lifestyle and goals. Their selection is then 3D printed on demand.
Remedy Health’s latest funding round received participation from ADM Capital Europe’s Cibus Enterprise Fund, as well as Apater Capital, Henkel X and ADM Ventures, the corporate venture capital arm of Archer-Daniels-Midland.
Remedy Health will use the new funds to further expand the Nourished portfolio, adding lines for children and personalised protein bars to the range. The company is also considering production expansion to the US.
“There has been a huge rise in the number of personalised nutrition products launched over the past few years, with the global industry predicted to go from $3.7 billion in 2019 to over $16 billion in 2027,” said Melissa Snover, CEO of Remedy Health.
“Our goal at Remedy is to offer truly personalised nutrition in a single daily format; we utilise our patented 3D printing technology to achieve this, something no one else in the world can do. We provide the highest quality active ingredients available to support every individual’s specific needs and goals.”
Alastair Cooper, head of venture investing at ADM Capital Europe, added: “Remedy Health, with the use of their 3D printed technology, has the ability to scale high-quality nutritional products that are truly unique.
“In a short space of time the Remedy Health team have managed to build the Nourished brand both in the US and UK markets. We’re delighted to partner with Melissa and her team to assist in the next phase of the company’s growth.”
© FoodBev Media Ltd 2020
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