- San Francisco-based Elo has raised $10 million in Collection A funding from Octopus Ventures.
- The startup curates customized protein powders for customers based mostly on nutrient knowledge from wearables.
- Try the 28-slide deck used to lift the recent funds.
A startup that provides customized suggestions of protein powders and diet dietary supplements has simply raised a $10 million Collection A from Octopus Ventures.
San Francisco-based Elo, which launched in 2020, takes knowledge from wearable units and customers’ present well being knowledge to offer tailor-made recommendations. The startup takes under consideration exercise knowledge from platforms corresponding to Apple Well being, and components in customers’ personal private objectives via questionnaires.
Elo’s app is related to Apple Well being, and it takes exercise knowledge — such because the depth and timeframe of a exercise — to supply customized protein powder suggestions, right down to the particular dosage.
Cofounder and CEO Ari Tulla mentioned different rivals out there solely used questionnaires to give you the proper formulation however, not like Elo, “present little or no data on dosing.”
Elo’s protein powder is its second product providing, following its ‘Good Complement’ service, which provides customers entry to at-home biomarker testing, diet coaches, and a month-to-month stream of dietary supplements.
The startup makes its cash via this membership mannequin, which additionally consists of entry to a dietitian through the Elo app.
The Collection A was led by London-based enterprise capital agency Octopus Ventures, which beforehand backed Depop, a second-hand clothes market that was acquired by Etsy. Extra participation got here from VC corporations Will Ventures and re:meals.vc.
“Hyper-personalized healthcare is an space that we consider that essentially the most pioneering and invaluable companies will probably be inbuilt,” mentioned Chantal Cox, investor at Octopus Ventures. “As a physician, I consider that Elo’s evidence-based, customized diet method will assist sort out one of many best challenges of our time.”
With the recent funds, Elo will give attention to growing its product choices, and develop its advertising and marketing group.
Try the 28-slide deck used to lift the recent funds.