Nourished, whose founder joined NutraIngredients' Sports and Active Nutrition Summit (SANS) last week, sells personalised gummy supplements for consumers based on their answers to an online questionnaire.
The brand, which sells online to the US and Europe, stands out from others in this space thanks to its patented 3D-printing technology which allows it to produce a huge variety of gummy vitamin stacks from 32 different nutrients.
The startup claims that its ingredients are sourced from whole foods and their nutrients are ‘higher in efficacy’ and ‘more readily absorbed’ by the body than conventional supplements.
The new investment, which goes towards both the 'Nourished' and 'Nourished KIDS' divisions of the company, will help to accelerate international growth.
Melissa Snover, founder and CEO of parent company 'Remedy', says: “We are pleased to have Colorcon Ventures join our roster of strategic investors as we scale Remedy to revolutionize the health industry and capture more of the rapidly growing, multi-billion-dollar personalized nutrition market. We look forward to working with Colorcon to accelerate our development and streamline our scale up and manufacturing processes.”
The new investment expands the prominent list of investors who also participated in Remedy’s previously announced Series A, including: ADM Ventures, Cibus Fund, Henkel X, and Apater Capital.
Colorcon Ventures is the corporate venture fund of Colorcon Inc., a design and development partner to over 4,000 pharmaceutical companies, around the world, providing expertise to fast-track pharmaceutical formulation and manufacturing.
Ali Rajabi-Siahboomi, Vice President and Chief Innovation Officer at Colorcon, said “Remedy Health aligns with Colorcon Ventures’ strategic focus on novel oral dosage forms. As evidenced by the company’s impressive 600% revenue growth, a personalized, single daily format product with a clean ingredient profile is very appealing to health-conscious consumers. As a leading supplier to the pharmaceutical and nutraceutical industries, Colorcon is excited to support and collaborate with Remedy to further accelerate and expand their developments and benefit consumers through personalized 3D printing technology.”
Revolutionising the industry
Snover joined the SANS last week to discuss how the use of technology is revolutionising the industry as it removes huge barriers to innovation.
In a preview to her SANS session, she told NI: “92% of all new product launches fail, so the chances of getting a product to market that works is tiny and this huge risk is clearly a massive barrier to innovation.
“By using 3D technology we can respond to new trends, global economical change in real time with basically no risk.
“We can add new ingredients into our offering in 14 days and create a new product line in less than a month from concept.
"In comparison to the traditional way of manufacturing, this new method is a thousand times faster and the investment cost is negligible.”
Proving the speed at which Nourished can innovate, the company recently added ADM’s HT-BPL1 probiotic to its offering. Snover says the integration of a new ingredients such as this takes around 20 days from ideation to commercial launch.