The $1.8 trillion global wellness market, coupled with advancements in biometric tracking and health technology, has investors banking on the future of wellness.

Renowned cyclist and endurance athlete Lance Armstrong’s Next Ventures is the latest VC fund to get in on the wellness craze, targeting $100 million — its first fund in almost five years — to invest in whole-person health, preventive care and diagnostics.

Next Ventures managing partner Julian Eison, was forthright:

“We said, hey, this whole consumerization of health is omnipresent,” Eison told PitchBook, which reported on Next Ventures’ plans to write pre-seed, seed and Series A checks with an average check size of $2 million. 

It’s a viewpoint shared by other leading investors and experts.

As Jon Canarick of North Castle Partners, Mark Grabowski of Snapdragon Capital Partners and Lance Dietz of KB Partners shared during Athletech News’ DISRUPT 2023 video series, there is an overall sense of optimism surrounding the health, fitness and wellness markets. 

“I think almost universally there’s growth in consumer expenditure in health and wellness across multiple categories,” Grabowski said, noting that the industry as a whole is on an “upward trajectory.” 

Wearables Track More Than Just Fitness

He also indicated that health and fitness trackers have even more runway, especially with consumers embracing preventive wellness practices. Advancing technology also means that wearables no longer cater to elite athletes or weekend warriors. Instead, consumers of all ages and in any health condition can track their health metrics, widening the available consumer market.

“When you think of everything from blood testing to stool samples, there you’re actually addressing some different issues,” Grabowski pointed out. “It’s not about, ‘Am I optimizing my workout performance?’ It’s about allergies, chronic issues, immune responses and other things that people are dealing with.” 

Investors are taking note, with Ultrahuman’s multi-device ecosystem the latest funding recipient. The company just secured $35 million in a Series B to advance its health monitoring endeavors, which include a smart ring, a continuous glucose monitor (CGM), a ‘Blood Vision’ system and an upcoming home health device that assesses environmental impacts on well-being. 

Next Ventures’ portfolio touts some notable health and wellness names, including smart ring brand Oura, AI wearable company Humane and Genopets, a move-to-earn game. The VC fund also invested in Utah-based Amp Human in 2019, maker of PR Lotion, which merged with Momentous, a ‘human performance” supplement brand.

As for Oura, the smart ring maker is expected to enter a “health-focused” chapter, having recently welcomed an executive from the Apple Health team and signing a deal to make its wearable device FSA/HSA eligible. 

Wellness CPGs Gain Steam, Too

Tech may always be a hot area for its jaw-dropping capabilities that seem to advance each week, but good old consumer packaged goods have been receiving the attention of investors, too — especially those in the wellness categories. 

Even major retailers like Target are banking on the wellness wave, introducing over 1,000 health-supporting products across all verticals. For good reason, too: consumers have not only become more health-conscious, but GLP-1 users have redirected their spending away from unhealthy items and toward wellness purchases.

Bloom Nutrition, a supplement brand in the greens and superfoods category recently scored a major investment from C4 maker Nutrabolt. 

Health and wellness guru/A-lister Gwyneth Paltrow, no stranger to all things green juice and longevity-supporting, is also eyeing the power of products with wide appeal. The goop founder has turned feeling good into a profitable brand, catering to the masses with a new line of budget-friendly wellness and beauty products, a departure from goop’s higher-priced items. 

Paltrow’s Los Angeles-based VC firm, Kinship Ventures, has reportedly sought to raise $75 million for its debut fund, eyeing early-stage consumer goods and tech companies.

Over on the East Coast, Humble Growth, a N.Y.-based growth equity firm launched by an all-star team that includes RxBar founder Peter Rahal, secured over $312 million for its debut. Earlier this year, Humble Growth acquired a significant minority stake in Momentous in a deal worth $32 million.

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Humble Growth, a consumer-focused investment firm concentrating on disruptive wellness brands in the food, beverage, health, beauty, vitamins, supplements and apparel space, has acquired a significant minority stake in Momentous, a fast-growing human performance and nutrition company. The deal is worth $32 million, Athletech News has learned.

The strategic partnership sees Momentous co-founders Jeff Byers and Erica Good continuing to lead the company together as CEO and president, respectively. Last year, the Park City, Utah-based brand tripled its revenue from 2022 and projects to double its revenue again this year. 

Next up, Momentous plans to open a new Los Angeles-based headquarters, grow its staff and advance the customer experience of its DTC model.

The human performance brand recently released an updated version of its website, allowing consumers to explore products based on their desired “pillar of performance” — such as cognitive function, sleep, athletic performance, foundational health and hormone support.

The timing is ideal, as Americans are eagerly spending hard-earned dollars on vitamins and supplements, especially those in the performance, recovery and mood genres.

NY-based Humble Growth, led by RxBar co-founder Peter Rahal, debuted a $312 million fund last fall, with a who’s who list of investors including Nestlé Health Science, Verlinvest, BodyArmor co-founder Mike Repole, Stonyfield Farm founder and CEO Gary Hirshberg, IT Cosmetics co-founder Paulo Lima and Ainsworth Pet Nutrition founder Sean Lang.

Not Your Traditional Supplement Brand

Aligned with Humble Growth’s mission to partner with entrepreneurs and brands promoting health and wellness, Momentous was launched in 2018 to offer high-quality, science-backed products (seven of which tout the Informed-Sport certification) to meet the needs of elite performers.

Human performance is an area that Byers knows well as a former NFL offensive lineman. After retiring from the NFL, the Momentous CEO became aware of a major gap in the supplement space. He first launched Amp Human, creating the brand’s popular PR Lotion product before acquiring the Momentous brand in 2021 and merging it into the company.

Instead of marketing gimmicks, Byers’ approach to supplements is to rewrite the current industry script with an expert approach, tapping the talent of Dr. Andrew Huberman, Dr. Andy Galpin and other health and wellness practitioners. 

“Supplements to me have a weird connotation, so our goal is to build the ‘anti-supplement supplement company,'” he told ATN in an exclusive interview last year. “We want to be your trusted partner in life optimization.”

As part of being a trusted partner, Momentous is listening — and delivering. With its finger on the pulse of consumer desires, the company will launch a pre-workout later this year that has been in development for years and includes Department of Defense research funding.

“Our goal was to develop a pre-workout formula that delivers cognitive and physical performance benefits but without synthetic sources of caffeine or stimulants, and we’re excited to bring this product to our customers who have been asking for it,” Byers said.

The brand also plans to introduce additional products that are geared toward the needs of women.

From the NFL to Consumers

Passionate about targeting “mindset” consumers who seek quality products to optimize their health and performance, Byers’ position has led Momentous to secure nearly 200 pro and college sports teams partnerships, including a deal to create a custom recovery product for an NFL team, along with millions worth of innovation contracts with the Department of Defense.

The brand has also attracted pro athlete shareholders such as NFL Pro Bowlers Luke Kuechly, Kyle Rudolph, and Ndamukong Suh, former professional skateboarder Rob Dyrdek, Ironman Champion Lucy Charles-Barclay and more. 

Byers remarked that joining with Humble Growth on the heels of exponentially growing Momentous will mean an upward trajectory for the brand, which has also earned the title of Official Supplements and Sports Nutrition Partner of CrossFit and the CrossFit Games.

“We were immediately drawn to Humble Growth and its partners’ exceptional track record in successfully operating and scaling nutrition and supplement companies,” Byers said. “Their lived experience positions them as invaluable thought partners during our continued growth, and I’m confident that Humble Growth’s passion and expertise for consumer products in this space is going to usher us into an exciting new chapter.”

This article has been updated.

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Biotech company GlycanAge, which specializes in the science of biological aging, has completed a $4.2 million seed funding round led by Kadmos Capital and LauncHub Ventures, marking yet another win for the longevity and disease prevention space despite a decline in VC funding in recent years. 

While the U.K.-based startup acknowledges that aging is inevitable, GlycanAge believes arming consumers with their biological age can empower them to make impactful, health-supporting changes if needed — and has reportedly attracted Halle Berry as a customer. 

Backed by 20 years of research, the biotech company tests biological age and wellness by analyzing 27 glycans to determine health and vitality, assessing preventative biomarkers that can be modified over time with improved behavior. 

GlycanAge customers select a plan and payment option: one kit for $348 measures current biological age and includes a consultation; two tests and two consultations are $599 and measure progress towards slowing aging. A custom plan is also available based on the testing frequency and additional support. 

Once the test kit arrives, a simple finger prick test unlocks results in 3-5 weeks, which are sent via email. Customers can then book a free video consultation with a Care Team Specialist to go over the finer details of their lifestyle and areas of concern. 

“GlycanAge’s vision lies at the crossroads between preventive medicine, longevity and diagnostics,” said John Gebeily, partner at Kadmos Capital.

Although the startup initially received grant funding to develop the baseline of its technology, CEO Nikolina Lauc told “Business Live with Ian King” that GlycanAge is now ready to commercialize. The funding will go towards developing a regulatory path over the next year as it pushes into the diagnostic sector.

Given GlycanAge’s capabilities, Lauc sees the massive potential to predict and prevent diseases with helpful interventions. 

“We’re hoping that insurance companies will use this to give you a way ahead and then give you rewards as you improve lifestyle or behavior that would then reduce your risks,” she continued. 

Health Tech Leads the Longevity Charge 

Like GlycanAge, Ezra, a full-body, AI-powered medical imaging company specializing in early cancer screenings, has also attracted investors for its prevention and detection services, fueling the longevity space. The New York-based healthcare startup recently raised $21 million in new capital, bringing its total funding to $41 million. Ezra’s new funding will help it expand to 20 cities and 50 locations across North America this year.

Movement, sleep and a diet rich in vitamins and nutrients may be the building blocks for longevity, but rapid innovation in health tech, such as GlycanAge, is resulting in ways to increase healthspan. 

Fueling the longevity trend? A healthcare system that has failed us, according to the Global Wellness Summit (GWS). Startups in biotech can offer a proactive approach, which GWS notes is at the core of longevity — with the global proactive services market expected to grow from $4 billion to $20 billion through 2032, with healthcare innovations leading the way.

Jeff Bezos is also reportedly backing the longevity space with Altos Labs, which focuses on cell rejuvenation to combat disease. Similarly, NewLimit raised $40 million last year for its work in epigenetically reprogramming cells to turn back the clock.

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Ezra, a New York-based full-body, AI-powered medical imaging company specializing in early cancer screenings, has raised $21 million in new capital, bringing the healthcare startup to a total funding of $41 million.

The new funding will go towards expanding Ezra to 20 cities and 50 locations across North America this year and advancing the use of its AI technology by imaging centers and clinicians. Looking ahead, Ezra plans to debut the first 15-minute full-body MRI for $500 within two to three years.

Consumers Embrace Wellness & Longevity

While various wellness therapies and longevity centers continue to bank on the booming wellness market, Ezra’s use of AI for prevention and detection may further inspire consumers to invest in their health.

As it stands now, luxury lifestyle operator Life Time has discovered that consumers are laser-focused on wellness these days, with an almost 30% increase in prioritization of their health and well-being this year compared to 2023. Plus, sales may have weakened for activewear, but consumers appear content to spend money on wellness-supporting supplements and anti-aging measures, further bolstering Ezra’s capabilities in the eyes of the wellness-minded.

Democratizing Early Disease Detection

Founded in 2018 by Emi Gal, Ezra reports it doubled its revenue in 2023 and received FDA clearance for Ezra Flash AI, enabling the world’s first 30-minute full-body MRI scan. Providing consumers with an accessible option for early cancer detection and other diseases,

Ezra currently offers three scan options: a 60-minute Full Body Plus scan for $2500, a 60-minute scan for $1950 (excluding a lung scan) and a 30-minute Full Body Flash scan for $1350 (excluding a spine and lung scan). Clients can pay monthly or use their FSA/HSA dollars, and all scans come with a follow-up consultation. Group and multiyear scan plans also offer discounts. 

The startup currently operates in 18 locations across New York, New Jersey, Los Angeles, Irvine, San Francisco, Miami and Las Vegas.

“Five years ago, Ezra pioneered the full body MRI space by being the first company in the US to offer fast, accurate, affordable, AI-powered full-body MRI scans,” Gal said. “We have since scanned thousands of people and have helped countless individuals identify cancer and over 500 other types of diseases early.”

Gal added that Ezra aims to detect cancer early and improve their chances of being cured, noting that this year, ten million people will receive late-stage cancer diagnoses with survival changes below 20%.

The funding round was co-led by Healthier Capital, a VC specializing in innovative technology supporting healthcare led by Amir Dan Rubin, former CEO of Amazon’s One Medical. Rubin will join Ezra’s board of directors. In addition to Healthier Capital, FirstMark Capital co-led the round with participation from Allianz Life Ventures and others.

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Wellness is a top priority for consumers, and Americans are reaching for vitamins and supplements more than ever, having resulted in the largest year-over-year sales growth in the performance and recovery, mood and digestion categories. Helping to fuel growth through 2024 and beyond? Mushrooms, which pack wellness-supporting adaptogenic properties.

Spacegoods, a DTC wellness brand of powder blends packaged in out-of-this-world packaging with Gen Z and social media-ready product names like ‘Rainbow Dust’ and ‘Astro Dust’ hit the market to provide energy and relaxation when needed, both intended to be mixed into a beverage of choice. Like other functional mushroom startups, Spacegoods has infused its products with Cordyceps and Lion’s Mane.

A hit on TikTok, the London-based next-gen wellness brand just announced a $3.1 million seed round, with its founder, Matthew Kelly, telling TechCrunch that he predicts Spacegoods can increase revenue 3x that of its 2023 results. The brand is also planning to launch additional powder flavors and gummies. 

Mushrooms are also expanding past capsules and powders into functional beverages, as seen with Odyssey, a functional beverage brand that infuses Lions Mane and Cordyceps. Touting a proprietary functional mushroom-based formula, Odyssey has investors all in on its wellness-supporting and ready-to-drink products, having just completed a $6 million funding round.

Another functional mushroom brand, FreshCap, just secured a nationwide retail partnership with GNC to sell its organic, non-GMO products formulated to boost immunity, energy and cognitive function, and relieve stress with its Lion’s Mane, Cordyceps and Ultimate Mushroom capsules.

Founded in Canada in 2015 as a gourmet mushroom farm, FreshCap’s arrival on GNC’s shelves comes as customers have been inquiring about the benefits of functional mushrooms and requesting products packed with mushroom magic, particularly that of the Lion’s Mane variety. The brand was acquired by consumer product goods company Heyday last year, leading to a 70% year-over-year sales increase.

Shrooms as a Ticket to Longevity

As research suggests, incorporating mushrooms into a diet may promote health and well-being. The practice of doing so (and subsequent emerging products) may appear trendy, but mushrooms have been used for medicinal and nutritional purposes for centuries.

Fungi is also found to be a significant component of diets in blue zone regions, areas where residents tend to enjoy a longer-than-average lifespan, such as Okinawa, Japan. A “longevity hotspot,” the fifth largest island of Japan prizes mushrooms for their benefits. 

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Consumer health biotech company Timeline has raised $66 million in a Series D financing round which included strategic investments from L’Oréal and Nestlé.

Switzerland-based Timeline offers nutritional supplements and topical skin health products with Mitopure, a proprietary ingredient (Urolithin A) that promotes healthy aging and is supported by 15-plus years of research, the company says.

The global corporate venture capital fund of L’Oréal led the funding round, which will go towards expanding Timeline’s product categories and markets across food, beauty and health while remaining longevity-focused. 

“This strategic collaboration reflects the breakthrough multidimensional approach that we’ve always believed is necessary to make meaningful advancements for longevity and healthspan,” said Patrick Aebischer, co-founder and chairman of Timeline. “I want to thank L’Oréal, Nestlé and our longstanding investors for their commitment to longevity solutions rooted in the highest level of science.”

Longevity is a new definition of beauty, points out Barbara Lavernos, deputy CEO who leads research, innovation and technology at L’Oréal.

“Longevity is about living healthier for longer, and L’Oréal has been working for a decade to understand and anticipate what this could mean for beauty,” Lavernos said. “Our investment in Timeline is exciting for its potential to transpose key hallmarks of longevity onto skin health and beauty.”

Timeline currently sells soft gel supplements and powder packets to promote energy, strength, and endurance, as well as a serum and day and night creams for the skin for youthfulness and radiance. All of Timeline’s products contain the recommended dose of Mitopure. 

“We have been an investor in Timeline since 2019 and continue to be very impressed with the team and stand behind the exponential potential that the Mitopure technology holds for nutrition to help people age better,” said Anna Mohl, CEO of Nestlé Health Science. “We’re excited to have L’Oréal join as an investor and strategic partner to bring this technology to new heights and extend its applications.”

Timeline’s Mitopure attracted one famous entrepreneur’s mom — Maye Musk, Elon’s mother. The dietitian promoted the company in 2021 when she signed on as spokesperson.

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San Francisco-based Talofa Games has raised $6.3 million in seed funding for its mobile fitness and future initiatives, after garnering over ten million downloads for its free app, Run Legends.

The funding round was led by Chamaeleon and included participation from A16Z Games Speedrun, Basis Set Ventures, Insight Partners and 1Up Ventures.

Founded in 2019 by CEO Jenny Xu, a marathon runner and fitness enthusiast, Talofa Games recently launched Run Legends 1.0, a narrated competitive fitness game.

Using a gamified approach, Run Legends encourages players to take the game outside, opting for running or walking. Unlike other immersive games, Run Legends doesn’t require a high-priced headset — headphones, supportive shoes and comfortable clothing are all that are gently suggested to enjoy the fitness game. 

The interactive game consists of engaging “missions” and allows users to set their own pace as they play alone or alongside their friends, unlocking rewards and new missions. The pace is entirely self-directed, with players able to speed up or slow down to change their skill to combat enemies they encounter along the way. Although they are enemies, the characters are humorous — with players running into a “hyper-competitive Chad,” a quite muscular and rage-filled enemy. 

Aside from its entertainment and fitness value, Run Legends is notably easy to launch and user-friendly. The app also allows users to enable step tracking and opt to receive notifications for in-game events and to claim rewards. 

“I began making games when I was 12. Today, we’re announcing Talofa’s $6.3M funding!” Xu posted on LinkedIn.

“Having shipped over 10 games like Animatronic Jumpscare Factory and Five Tries At Love as a teen, I dreamed of combining the two things I love the most (fitness and game development!) into something bigger,” she continued. “As a long-distance runner that heard so often that running ‘sucks’ or is boring and painful, I set my sights on creating a game experience that makes not just this activity but other forms of wellness compelling and accessible.”

While Run Legends uses a relatively simple concept, it’s had impressive health benefits for its players.

“We’ve had players telling us they lost five or 10 pounds in a single month. So I think just the impact has been pretty clear,” Xu told VentureBeat. “Fitness and gaming do not need to be mutually exclusive, and we are extremely proud to build a game that enables players to improve their health while having fun and playing with friends. We look forward to working with our players to scale this new social fitness experience and create a happier, healthier world.”

Talofa is now searching for a senior product manager to join its team, the company has said.

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Nutrabolt, a health and wellness company that makes functional beverages and active nutrition products including C4 Energy, has made a significant minority investment into Bloom Nutrition, giving Nutrabolt a 20% ownership stake and making it Bloom’s largest investor.

The female-founded Bloom Nutrition concentrates on supplements in the greens and superfoods category, selling pre-workout blends, whey isolate proteins, collagen peptides, collagen creamers and blending accessories.

The investment is part of a larger $90 million financing that includes investor Clayton Christopher, who will join Bloom’s board, and consumer investment firm Amberstone.

Bloom is the brainchild of Mari Llewellyn, a fitness and wellness influencer who shared her inspiring weight loss journey and monetized PDF workout guides and exercise bands before launching the supplement brand in 2019 alongside her husband, Gregory LaVecchia. 

With an audience north of a million Instagram followers, Llewellyn’s Bloom Nutrition quickly landed partnerships with retail powerhouses such as Walmart, Sam’s Club, and Target. 

The couple, who were listed on Forbes’ coveted “30 under 30” list, will remain Bloom’s majority shareholders. 

“We are very excited to partner with Mari and Greg, two outstanding entrepreneurial founders, during the next phase of their company’s growth,” said Doss Cunningham, Nutrabolt chairman and CEO. The deal sees him represent Nutrabolt on Bloom’s board of directors. 

“They’ve built an incredibly strong brand and business over the past 4.5 years, yet there is still tremendous whitespace to pursue in the form of new product platforms and distribution opportunities,” Cunningham added.

The funding will be used to accelerate Bloom’s demand-generation activities and product innovation.

“When we started this company, we could’ve never imagined building such a huge community, and inspiring so many to begin their wellness journeys,” Llewellyn said. “Our goal at Bloom has always been to help everyone ‘bloom’ into their best selves through nutritious and delicious supplements. It’s an incredible honor to have Nutrabolt join us in extending our mission further.” 

LaVecchia added that partnering with Nutrabolt will take Bloom to new heights.

“Their expertise and resources as industry leaders will enable us to scale effectively, fuel sales growth and accelerate innovation,” he remarked. “This is a significant leap forward, and we could not be more excited to embark on this next phase of growth together.” 

The vitamin and supplement sector accounts for a sizable portion of consumer spending, with over 90% household penetration. Recent data from NIQ, a data intelligence service provider, revealed the revenue power of vitamins and supplements, with sales booming to $13.5 billion last year.

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GolfForever is living up to its name now more than ever. The digital fitness and wellness system, which features in-home training that prolongs a golfer’s playing career, just closed a $10 million Series A funding round.

Clerisy, a consumer growth equity fund, led the funding round while PGA Tour standouts Scottie Scheffler and Tom Kim followed as equity investors. Scheffler, who currently reigns as the world’s number-one golfer, and Kim, a three-time winner on the PGA Tour, also serve as brand ambassadors.

“GolfForever was founded with a mission to help golfers of all levels and experience improve their bodies, so they can improve their games and play without pain or injury at every age and for as long as possible,” said Jeremy James, founder and CEO of GolfForever. “We’re thrilled to join forces with Clerisy and Scottie and Tom, two of the world’s greatest golfers, to accelerate our growth and enable more players to reach and maintain their full potential and enjoy the game for years to come.”

A ‘Hole in One’ Off the Links

GolfForever drew appreciation from the golf community long before these big names started writing the company big checks. The brand’s golf-specific training and wellness program, featuring portable equipment, a mobile app and streaming instruction co-developed and presented by the world’s top golf trainers and medical experts, was the first of its kind. 

With personalized exercises, the company instructs users on ways to increase their strength, flexibility and balance to improve their swings. Artificial intelligence (AI) analyzes results from a user’s strength and flexibility tests before starting to ensure specific, tailor-made exercise regimens.

With the platform adapting to each user specifically, it makes GolfForever and its offerings available to golfers of all levels, as the software learns and understands where each user is at with their game before moving forward. The platform also helps golfers alleviate pain and avoid common injuries to upgrade their overall playing experience. 

“GolfForever is a vital part of my daily warmup, fitness routine and a key contributor to my success over the past two years,” said Scheffler, who won The Masters in 2022. “I’m proud to help bring our training system to players everywhere, whether you’re a pro like me or a weekend golfer. Every golfer should use it.”

Putting the Investment to Use

A multitude of doors already lead to GolfForever with the platform accessible through its own e-commerce site, Amazon, and more than 900 retail operations including Dicks’s Sportings Goods, Golf Galaxy and PGA Superstore. But with the new capital, GolfForever plans to further solidify its place in the golf space, crafting more athlete and retail partnerships, developing a multi-state mobile experience tour, special events and research initiatives. 

The game’s best were quick to realize GolfForever’s ambition and capabilities. Outside of Scheffler and Kim, more than 400 PGA and LPGA Tour pros use GolfForever to turn their bogies into birdies without ever leaving their homes. Additional brand ambassadors include PGA Tour members Zach Johnson, Justin Leonard, Ryan Palmer, and instructor Rick Smith, who worked with Jack Nicklaus, Phil Mickelson, Vijay Singh and John Daly. 

A Growing Fitness Option

GolfForever’s newly acquired financial support speaks to a larger phenomenon within the fitness space regarding the sport’s popularity. While it’s not strength training, HIIT, or spin class, golf, or at least golf-related activities, have gained momentum as an exercise modality over the past few months.

Apple Fitness+ just released a new workout program for golfers. Rose Zhang, a rising star in the sport being a top-10 finisher in three LPGA majors last year, joined Apple Fitness+ trainer Kyle Ardill on the project, which offers training methods for aspiring golfers. Forme, another personalized virtual training app, has also stated its intent to make larger strides in the golf vertical.

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Going the extra mile has never looked more attractive. Muuvr, the fitness app that motivates runners, cyclists and swimmers through reward programs and community engagement, announced a significant investment to expand its platform.

Muuvr surpassed its original funding target with a $4.16 million post-seed funding round, the company announced. That, combined with $1.67 million in founder loans, sets Muuvr’s total capital increase at $5.84 million.

The post-seed funding round was led by what Muuvr described as “influential private individuals and family offices. Investors include 10-time Ironman and Ironman 70.3 World Champion Daniela Ryf as well as four-time Ironman Switzerland Champion Jan van Berkel.

Gamification With Real-Life Rewards

Muuvr launched a beta version of its app back in October, which is currently available on the Apple App Store and Google Play Store. Once completing the free download, users can log in and track their movement during a variety of exercise activities. In doing so, users earn “Muuvs” which work as a virtual currency capable of unlocking awards, experiences and even products in the Muuvr Marketplace. Users can also connect with others on the platform to share progress and motivate each other

“Exercise and health are so important, both to me as a lifelong athlete and to our society,” Ryf said. “Muuvr offers a mechanism to foster and reward physical activity and healthy behavior, which is why I choose to engage with Muuvr as a sports person and now as an investor.”

More Fitness Funding

Muuvr isn’t the only fitness app to expand its financial resources over the last several months. Ladder, a daily strength training app, closed a $12 million Series A round in early December. Runna, which coaches runners via artificial intelligence (AI), also just brought in $6.3 million. CoPilot, another AI-powered fitness coaching app, recently raised $6.5 million. 

The incoming funds open a variety of doors for Muuvr, which was only just founded in 2022. The company lists app development, marketing and acquisition campaigns and the establishment of new partnerships as areas they intend to flesh out with the new capital. 

“It’s not just about financial backing; it’s a testament to the belief in our purpose to revolutionize how athletes engage with their sport,” said Michael Hartweg, Muuvr co-founder and CEO. “This funding is a catalyst, propelling us towards our dream of creating an unparalleled digital experience that celebrates and rewards the dedication and spirit of every athlete.”

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Vitruvian, an Australian home fitness startup with a low-profile AI strength trainer that was named one of Time’s Best Inventions of 2022, has secured an additional AU$21.8 million ($14.7 million USD) in funding to bolster its hardware, software and content. 

A representative for the startup confirmed to SmartCompany that the funding stemmed from previous Vitruvian investors and is considered an extension of the fitness brand’s AU$21 million Series A last year.

Vitruvian’s 2022 funding, which included Larsen Ventures and Steve Baxter of Australia’s “Shark Tank,” was used to accelerate production and expand into the U.S. market. 

Founded in 2008 by Jon Gregory, CEO, Vitruvian has reimagined strength training with its slim-designed AI-driven Trainer+, which loads weight (up to 440 lbs) based on a user’s current fitness profile to create the optimal workout. The personalized adaptive technology promises results in half the time of traditional workouts, but users can opt for non-adaptive training modes to keep weight at a constant amount. Various accessories allow Trainer+ users to continually challenge their bodies in their workouts with the ease of a “quick connector system” for easy swapping of handles, bars, straps and accessories. 

Gregory, who has a unique background with a degree in applied physics and worked in finance and trading, saw a dichotomy between using advanced algorithms for trading and the archaic metal weights in the training room of the finance company. 

“I had found a problem that technology could solve,” he told Authority Magazine in 2021.

Earlier this year, Vitruvian launched a partner program for fitness clubs and hotels, enabling guest-based businesses to offer its members and guests strength training classes with the Trainer+. Hotels and fitness clubs that team with the fitness startup can join an affiliate partnership to sell the Trainer+ machines to guests at a discount while earning a percentage of the sales. 

In October, Vitruvian teamed with Gymshark to showcase its digital resistance training at the Gymshark flagship store on Regent Street in London. 

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Sportswear brand and digital platform Castore has secured a £145 million ($184 million) investment in a round led by Raine Partners, a firm specializing in media, entertainment and sports. The apparel brand has an ecommerce site as well as two shops in its headquarters in Liverpool and London and reports it’s on track to hitting record revenues and profits in 2023.

Castore said the funds will go towards expanding its sports and activewear product line and boosting its team and infrastructure system. The capital will also allow Castore to establish new relationships with sports teams while helping drive fan engagement.

Participation also included investments from Hanaco Ventures and Felix Capital. The funding round valued Castore at close to £950 million ($1.19 billion), according to reports.

“We are delighted to have secured the backing of highly reputable equity partners that will add significant value to all aspects of Castore’s business model – our team relationships, our sportswear brand and our omni-channel retail operations,” said Tom and Phil Beahon, Castore founders, in a statement. “We are confident these are the right investors to take us to the next stage of our growth, who share our passion for high-quality sports apparel, and, in addition to capital, will bring expertise and access to new markets.”

Winning With Sports Deals, Premium Product

The two brothers founded the performance apparel brand in 2016 and have since partnered with 50 franchises. Castore’s team partnerships have led to the brand offering apparel for McLaren F1, Oracle Red Bull Racing, England Cricket Board, Glasgow Rangers, Bayer Leverkusen, Feyenoord, Sevilla FC, Athletic Club (Bilbao), Saracens Rugby and Republic of Ireland Football fans.

Aside from its global sports team merchandise, the brand also uses its technical fabrics to design sportswear for men, women and children for a variety of activities — soccer, cricket, rugby, tennis, running, skiing and more.

The Road Ahead

The founders say the £145 million investment gives Castore the “financial firepower” to invest in its supply chain and enhance its data analytics capabilities. 

“There is huge demand out there for Castore and this will enable us to continue to deliver great products, service and choice to our sports industry partners and consumers, and to take on the established players in the global sports apparel market,” said the brothers. “We are very proud of the progress made, but we – and the full Castore team – are just getting started.”

Jason Schretter, partner of The Raine Group, referred to Castore as an “insurgent sportswear brand that sits at the intersection of sports, premium brands, data analytics and e-commerce,” adding that sports teams and leagues “are among the most cherished” brands in the world.

“They deserve comprehensive and bespoke solutions to help them better connect, engage and monetize their global fan bases,” he continued. “Castore’s differentiated combination of high-quality merchandise and data-driven technology solutions is the answer sports franchises need to unlock this massive opportunity.”

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In accordance with its name, Ladder is moving on up in the digital fitness space. Today, the Austin-based company announced that it closed a $12 Million Series A round led by LivWell Ventures and Tapestry VC. The funding follows a $6.5 million seed round Ladder raised in 2021.

The company’s fitness app, which provides daily strength training workouts, launched in July 2020 and has seen exponential growth this past calendar year, including an expected 500% increase in its membership, with Ladder reaching 50,000 paying customers. Ladder‘s emphasis on strength training has made it a hot commodity especially amongst women, earning it the Women’s Health 2023 Best Strength Training Program award, among others.

Organization, gamification and a well-trained staff keep Ladder users motivated to continue working out and building strength. The “Ladder Journal” makes it easy to catalog progress, visualize it and then look to build on it. The app also features opportunities to earn badges or establish streaks, both of which stoke a user’s competitive fire. 

All the while, Ladder’s staff provides personalized assistance to make sure users get a workout to their liking each time they set up shop either at home or at the gym. The app features different experts specializing in different forms of strength-training exercises including bodybuilding, kettlebell training, HIIT workouts and Pilates to bring forth a blend of variety and proficiency. 

“Ladder members know exactly what workout to do each day based on their goals and preferred training styles,” said Ladder CEO Greg Stewart. “The experience is built on the core tenets of personal training…high-quality workout programming designed by an expert so you don’t have to think, coaching that provides guidance and answers to your questions, and accountability that’s delivered through shared experiences with other members from around the world doing the same workouts as you.”

With the help of artificial intelligence (AI), Ladder has taken its expansion in stride. Proprietary software tools along with the AI allowed the company to take on and manage its growth in new users while keeping its in-house staff at a relatively similar size. 

“While many companies prematurely added headcount and detached themselves from business fundamentals, Ladder has stayed focused on the needs of its members and has created a durable foundation for long-term success,” said Doss Cunningham of LivWell Ventures, who also serves as chairman & CEO of Nutrabolt, maker of C4 Energy. “That focus is paying off in both explosive member growth and the best retention we’ve seen in any mobile fitness product.

Tapestry VC co-founder Patrick Murphy expressed a belief that Ladder would soon be a “household name in consumer fitness.” 

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Runna, a personalized running coach app that debuted in 2021, has closed another venture capital round, raising £5 million ($6.3 million), bringing Runna’s total raised funds to over £8 million ($10 million).  

JamJar led the latest funding, which included participation from Eka Ventures, Venrex and Creator Ventures.

Since its launch, Runna says its running app has grown to coach hundreds of thousands of runners in over 180 countries, and the latest funding will be used to develop “sophisticated coaching algorithms” with the help of AI.

Formerly known as RunBuddy, the app was founded by Dom Maskell and Ben Parker, two best friends who love running. The app coaches users based on their ability and goals and offers strength and conditioning plans from top running coaches.

Runna provides a free component with “couch to 5 K” training plans to more advanced and customized programs for serious runners — those aiming to complete a marathon or even a multi-day ultramarathon. The app also offers smart treadmill control and integrates with live Apple Watch coaching and Garmin, Fitbit and Coros.

Off & Running

The recent funding follows an initial £485,000 ($614,000) via crowdfunding in late 2021, with Runna having secured support from athlete and world record holder Joshua Patterson, British Olympic Marathon runner Steph Davis and 303 of its first customers.

After its financial kickstart, Runna then went on to raise an additional £2.25 million ($2.8 million), which was led by Eka Ventures, angel investors and Olympic Triathletes Alex Yee and Beth Potter (now part of Runna’s coaching team) and Greg O’Shea, an Irish rugby union player.

Previous funding rounds have enabled Runna to hire talent, invest in its app and partner with race organizers, such as AJ Bell Great North Run and the Los Angeles Marathon presented by Asics.

“What makes us that much more excited is the fact that we’re only just getting started,” said Parker, the app’s head coach and co-founder. “Runna today is only 20% of the experience that we’ll be delivering to our Runnas with all the product features we have in mind, making this fundraise so pivotal so we can bring these revolutionary ideas to market that much faster.”

Co-founder and CEO Maskell shared that Runna is pleased to have raised what he says is a “phenomenal amount of money” with the running app’s latest investment round. He added he’s eager to make Runna an even better experience for users, affiliates and partners and positively impact people’s physical and mental well-being.

“All we’ve ever wanted to do is spread the benefits of running to as many people as possible while making running as accessible as possible to all, regardless of background, body type or fitness level,” he said. “To have JamJar lead the investment round was something we could only dream of, and it’s great that we have the backing of such well-known venture capital firms, as well as such well-known athletes.”

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Barbell Logic, an online personalized strength and nutrition coaching platform, has secured $2.3 million in a Series A funding round and is on track to hit $4 million in revenue this year, according to a recent LinkedIn post by the fitness company.

Now in its eighth year, the Springfield, Missouri-based Barbell Logic employs 23 full-time staff members and works with approximately 50 contracted coaches. The strength-based brand also touts a YouTube channel, podcast and Barbell Academy training program that offers a pathway to becoming a strength coach.

Jordan Gross and Wayde Milas are named as Barbell Logic’s lead investors, with each contributing over $1 million, according to Springfield Business Journal. The fitness company reports a post-money valuation of $37.7 million.

Aside from its coaching and education services, Barbell Logic has also developed proprietary software, licensing its coaching platform, TurnKey Coach, to the B2B and government sectors. Earlier this year, Barbell Logic secured a $1.25 million contract with the Air Force to use TurnKey Coach to track the health data of service members. 

Founded by powerlifter and expert coach Matt Reynolds in 2016, Barbell Logic offers a one-stop shop for fitness and health consumers, matching them with the perfect coach. Coaches then schedule a call with the client before developing a barbell-based strength training workout plan and assigning weekly workouts. Barbell Logic’s BLOC app allows clients to communicate with their coach and find their workouts and helpful video content. Clients film parts of their workout to share with their coach, who provides valuable feedback for the next session.

Clients can also add nutrition coaching to their strength training plan, which offers a personalized dietary plan, expert guidance and monthly video calls.

Reynolds took to the networking media platform to reflect on Barbell Logic’s success, writing that he started the online coaching company to “fix a hole” in the fitness industry.

“At the time, most professional coaches looked down on the mere idea of an online coaching platform,” wrote Reynolds, adding that he saw it as an opportunity. Once COVID hit, Barbell Logic was perfectly positioned to welcome online fitness enthusiasts, as gyms were closed around the country.

“We became not just a group of professional coaches but a tech company with a dedicated but small team of experts punching way above their weight class in output, productivity, and return on capital investments,” Reynolds continued.

He credits Barbell Logic’s ongoing success to pairing “basic values of providing high-quality coaching” with client-first service. 

“What should be the norm in our industry is sadly missing,” he wrote. “So our continued commitment to you, our clients, coaches, and content consumers is that we’ll do everything we can to consistently provide value through free education, as well as the best online coaching on the planet at a fair price. Simple as that.”

As Barbell Logic looks ahead to a new year, the fitness platform says it’s actively seeking an additional $1.7 million in capital over the next few months, with two more prospective closing dates to fill a $4 million series A capital raise.

Strength training continues to be the leading focus for fitness consumers of all ages who are sold on its numerous benefits such as increased bone density, joint protection and improved cardiovascular health.

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The impact of artificial intelligence seems to be everywhere, silently working in the background as businesses across all industries race to use the technology to provide the best products and services possible. Now, AI has been decked out in a white lab coat, ready to serve as your friendly physician. 

Forward, the brainchild of Adrian Aoun, has raised $100 million for its “doc in a box” CarePods – an AI-powered, self-service healthcare experience in high-tech pods. The tech entrepreneur had sold his natural language processing app, Wavii, to Google in 2013 before entering the healthcare market in 2016 with Forward.

Initially, the startup opened 19 Forward locations with primary care clinicians, but it now says its groundbreaking CarePods address the everyday challenges of healthcare, such as cost and accessibility. The company calls CarePods “the world’s first AI doctor’s office.”

The new capital will be used to manufacture and deploy the CarePods, which will be easily accessed in high-traffic zones such as malls, gyms and offices and are initially rolling out in the San Francisco Bay Area, New York, Chicago and Philadelphia.

In 2024, Forward plans to more than double its footprint. 

The Future of Healthcare?

“Basically, what I’m doing is slowly migrating every single thing from a doctor and nurse to hardware and software,” Aoun told TechCrunch. “We don’t even believe a doctor’s office should exist. We think that it’s a thing of the past.”

The CarePods provide consumers with a private experience in an eight-foot-by-eight-foot cube that blends advanced diagnostics and health plans with the goal of prevention. While it may sound cold and clinical, the pods have comfortable seats and even mood lighting.

After settling in, patients cycle through various health apps on a giant screen. A history and baseline are taken — including a body scan — with the patient sharing their wellness goals. The CarePod can conduct thyroid testing, blood pressure monitoring, diabetes and HIV screening and provides swab-based tests for COVID-19 and strep throat. Sensors are used for biometrics and blood can be drawn with a single-use, needless collection device, according to TechCrunch. 

Some of Forward’s health apps currently focus on the heart, skin care, mental health and weight management, but the company plans to add prenatal care, advanced cancer screening and polygenic risk analysis apps in time. 

An app allows users to access their health data with memberships starting at $99 a month, which puts them in the driver’s seat of their health journey.

Despite Aoun’s comments about doctor’s offices, Forward emphasizes that the CarePods aren’t meant to replace human physicians or even treat patients. Instead, the CarePods serve as a diagnostic tool and help consumers map out a prevention pathway. There is still human oversight — clinicians review a patient’s data, sign off on prescriptions and help create a care plan.

Big-Name Support

The tech startup has attracted numerous venture funds and is backed by Eric Schmidt, former CEO and chairman of Google, John Giannandrea, senior vice president of artificial intelligence at Apple, Demis Hassabis, cofounder of DeepMind and Mustafa Suleyman, cofounder of DeepMind and Inflection AI.

Forward is staying mum on who led the recent $100 million funding round but noted Khosla Ventures, Founders Fund, Softbank, Samsung Next and previous individual backers as investors, according to Fortune.

Consumers have become familiar with self-service, whether ringing up their groceries and checking out at their local market or self-directing a training session at their gym on their own schedule. Some fitness franchises have begun to adopt a 24/7/375 model that allows members access to their unstaffed facilities, leaning into the convenience economy model that reduces labor costs.

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Strength training may be the top fitness and wellness trend of 2024, but what if a weighted vest could accelerate results? 

Enter Omorpho, an Oregon-based micro-weighted fitness startup that has just closed a $3 million funding round to grow its direct-to-consumer and retail segments. The funding brings Omorpho’s total investment to $16 million.

Chicago-based KB Partners and Thirty-5 Capital two sports tech and innovation VC firms, led the investment round.

Omorpho, which recently opened a pop-up store in Portland, Oregon, will use the funding to build brand awareness and restock inventory of its gravity apparel and G-vest weighted vests. 

The essence of Omorpho’s gravity sportswear is MicroLoad technology, which uses small amounts of weight using hundreds of high-density polymer spheres to build endurance, tone muscles and burn more calories. The spheres are fused to the fabric to distribute .5 to 2 lbs of weight comfortably, allowing fitness enthusiasts to engage in a variety of activities and workouts. Consumers can select from tights, shorts, tanks, and shirts across collections for men and women and can even shop based on activity. 

Omorpho’s weighted vests (the G-Vest) have a flexible design that fits securely without hindering movement, with a women’s G-Vest available at 5 lbs for $279 and a men’s G-Vest available at 10 lbs for $299. Both G-Vests use hundreds of tiny steel ball bearings and have side and shoulder adjustments for the perfect fit. 

Ron Saslow, Thirty-5 Capital, LLC’s founder and managing partner, credited the fitness tech apparel brand for offering an innovative and unique product that simplifies athletic training for consumers of all kinds. 

“What truly drew us to the business was the quality of the product, its modern design and unquestionable performance benefits,” Saslow said. “Not to mention, the team’s deep knowledge and experience in the industry make them uniquely qualified to create an entirely new category of sportswear.”

Stefan Olander, Omorpho co-founder and CEO, said the startup is encouraged by the continued interest in its weighted fitness vest and gravity apparel brand. 

He founded the weight vested and apparel company in 2017, previously serving as Nike’s VP of global digital innovation.

“This round of funding will aid our continued expansion and help us more quickly realize our mission to simplify the pursuit of a fit life for all athletes and fitness enthusiasts,” Olander said.

The brand recently tapped Michael Johnson, an Olympic gold medalist, as its brand ambassador and inked a deal with Olympian Annie Kunz and Australian tennis pro Ajla Tomljanovic. 

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Needed, a science-backed perinatal nutrition company, announced a $14 million funding round led by The Craftory and featuring the continued support of existing investors Seae Ventures and Crescent Ridge VC.

The capital will serve to expedite product innovation, bolster content creation and launch Needed Labs, the company’s clinical insights and research division.

Needed was founded in 2017 by nutritionally trained mothers Julie Sawaya and Ryan Woodbury. The company has garnered a reputation for its innovative and science-driven approach to perinatal nutrition. Since its inception, the company has rapidly expanded its product range to become a comprehensive perinatal nutrition system that offers targeted support for egg and sperm quality, lactation, stress, sleep, and hydration

“Nutrition is one of the most significant and most overlooked decisions made in the pregnancy journey,” said Sawaya, Needed co-founder and co-CEO. “However, nutrition is often relegated to an afterthought and women are left with more questions than answers about their nutritional needs. … Needed is setting a new, radically better standard for perinatal nutrition combining the products, education, and access to nutritional experts that all women need and deserve.”

With the launch of Needed Labs, the company aims to revolutionize maternal and infant health by challenging prevailing norms through pioneering research. The women’s health company says its study on women’s nutritional status during pregnancy and the advancement of an integrative Nutritional Care model promises to significantly reduce rates of preterm birth, preeclampsia and gestational diabetes when compared to national averages.

“Nutrition changes perinatal outcomes. Not just birth outcomes, but fertility, pregnancy, postpartum, and the health trajectory of mom and baby for the rest of their life,” said Woodbury, Needed co-founder and co-CEO. “Needed Labs is on a mission to develop new data through research and aggregate clinical insights to ensure the impact of proper perinatal nutrition can no longer be ignored in the standard of care.”

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Bhout, a Portuguese connected boxing startup, has raised an impressive €10 million ($10.7 million) in seed funding for its AI-powered gamified boxing bag, scalable studio concept model and omnichannel approach.  

The seed round was led by VC investors Lince Capital and Explorer Investments at a time when venture capital funding has remained sluggish on a global scale. 

Dubbed the “boxing bag with a brain” by Bhout founder Mauro Frota, the innovative fitness startup opened a boxing club in Lisbon, Portugal, in the summer of 2021 and was crowned the 2023 Startup Spotlight award winner at The Fitness Technology Summit in Washington, D.C. 

The boxing brand is now looking to expand its studio footprint to the U.S., Spain, Brazil, UAE and Saudi Arabia and has a waitlist for consumers interested in purchasing its Bhout bag. 

Just the Beginning

Frota, an accomplished expert in exercise psychology and martial arts training as well as a former Precor master coach, had once revealed plans to sell the AI boxing bags to fitness operators, corporate offices and hotels. He took to LinkedIn to announce the seed round, which he pointed out comes during a challenging macro environment:

“We are really excited about this milestone, especially because this is one of the biggest Seed rounds for a FitTech Startup, that becomes even more special when we realize we are in a major downturn of the economy. But…I believe that valuations and amounts raised are really just vanity metrics,” he wrote.

“Celebration done,” Frota added. “Time to get back to building something special.”

A New Take on Connected Fitness

That “something special” is Bhout’s standout gamified and connected fitness bag, which uses sensors and machine learning. Despite its high-tech approach, the bag’s design, crafted from cactus leaves and medium-density foam, gives boxers and fitness enthusiasts the feel of boxing with a human — not a robot. The Bhout bag can also rotate 180 degrees, suitable for both cardio and strength workouts and identifies the location, force and type of strike with near 100% accuracy.

Bhout has also begun looking for franchisees for its 45-minute HIIT martial arts training concept that closes with meditation.

As for gamification, Bhout is soon releasing JAB$ so home-based bag owners can compete with family and friends and earn tokens to redeem for a new pair of gloves or upgrade their avatars. Players are rewarded for working out with regular physical level assessments, and as fit level increases, players get additional points and JAB$ for each training session.

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Traveling can take an individual from the hamster wheel of daily life to mountain tops or seascapes, providing a new perspective and a chance to reinvigorate and reset. It’s also a burgeoning sector, as consumers continue to book getaways for their mental health and well-being. One startup has just received a golden ticket, raising $6.2 million: Flash Pack, an adventure-focused travel company for solo travelers in their 30s and 40s.

Unlike other travel companies, Flash Pack isn’t looking just to create memories and craft itineraries — its core mission is to create a million friendships through the shared experience of boutique travel. According to the travel company, 98% of its customers travel solo, with 80% remaining friends. 

The latest funding will go towards Flash Pack’s platform and hiring. JamJar Investments led the fundraising round with participation from existing investor PPF.

Travelers Seek Human Connection, Not Souvenirs

Much like the fitness industry, Flash Pack has discovered consumers are eager to seek connection in the post-pandemic environment — whether through group fitness, wellness retreats or experiential experiences.

Aside from the difficulty of making friends as an adult, for others, life has become mundane, exacerbated by a loneliness epidemic. According to an advisory from the U.S. Surgeon General, loneliness is more widespread than other major health issues in the country and is considered a major public health concern, increasing the risk of heart disease and stroke.

But the most intrepid consumers are ready to pack their bags for a solo trip, hoping to meet new friends as they embark on an adventure. That’s where Flash Pack comes in, identifying the U.S. market as its fastest-growing, with 60% of its total trip sales driven by demand from American travelers.

“We have seen a massive appetite from customers to build meaningful connections through travel,” said Radha Vyas, CEO and co-founder of Flash Pack. “Solo travel has rapidly grown in popularity as people look to make up for lost time and expand their horizons, and the recent investment indicates the value and opportunity in this growing trend.”

Using the experience and expertise of trusted local guides, Flash Pack allows travelers to book unique experiences, such as Land Rover “glamping” in the Serengeti, a three-day white water rafting journey on the Pacuare River in Costa Rica or attending a Lucha Libre wrestling match in Mexico City. 

Solo travelers can opt for short getaways (four to eight days) or longer trips (eight to 15 days) and select from settings like beach, city or safari. Flash Pack also offers special categories for those looking to escape crowds, first-timers and even those who love the cold. For travelers looking for wellness experiences, Flash Pack provides a chance to unwind with aerial yoga in Bali and guided medications in Sri Lanka. Active travelers and fitness enthusiasts may prefer climbing Peru’s Rainbow Mountain or Bali’s Mount Batur, surfing in Morocco or quad biking in Turkey.

While the variety of experiences can entertain and create life-long memories, they also gather together like-minded adults attracted to similar interests.

Comeback Story

Flash Pack has been on its own adventure, forced into bankruptcy three years ago due to COVID-related travel experiences. Still, Vyas wasn’t ready to give up and relaunched the company in 2021 with the backing of PPF. Since then, Flash Pack has grown to a team of 65 employees and plans to triple its U.S. employee count in the next six months.

Richard Reed, JamJar Investments co-founder, commented that more needs to be done by investors to fund female-founded ventures, particularly from women of color. Vyas is one of the few (0.8%) South Asian female founders to have secured investment at this stage. 

“Flash Pack is not just revolutionizing the way people travel, but how we interact with one another,” Reed said. “Under Radha’s leadership, Flash Pack has escaped the fate of the pandemic and come out better than ever, and so we have high hopes for what they will achieve over the next three years.”

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