A spokesperson for the venture capital firm shared in a statement that the investment reflects a shared vision of creating products that better serve the needs of older adults and elevate the standard of nutrition in an underserved category.
The funding also included backing from New Fare and good culture founder Jesse Merrill. They both supported Lucille with an undisclosed pre seed round in 2025, the same year the company launched. Other investors included Able Partners, Amity Supply, Springdale Ventures, and Great Circle Ventures.
“In a category that hasn’t evolved in decades, we’re building something new, and the response so far has been incredible,” said Jess Haghani, founder and CEO of Lucille, in a statement. “We’re already seeing subscriber conversions from initial purchases, and we are onboarded with our first foodservice distributor for senior living communities.”
Fighting for grandma
Haghani started Lucille for her grandmother when she was unable to find a nutrition drink that was “good enough”—one that included simple and tasty ingredients. This was critical, Haghani said, when her grandmother, whom the company is named after, was in and out of the hospital due to atrial fibrillation.
The nutrition options Haghani’s grandmother had available were “ultra-processed, clinical and joyless,” the CEO said.
Iris Ventures noted that in the United States the 75+ and 85+ populations are expected to grow by 45% and 100%, respectively, over the next decade but that the category remains dominated by legacy, ultra-processed products. According to Mordor Intelligence, the overall meal replacement market is valued at over $16 billion in 2026 and expected to reach close to $24 billion by 2031.
Lucille’s formulas and ingredients, which were created in partnership with nutrition experts from Harvard University’s T.H. Chan School of Public Health, were selected for their role in supporting both health and the needs of seniors.
Lucille’s recently introduced high-protein, calorically-dense shake has two times more protein and five times more fiber than other products on the market, the company said. It provides 20 grams of protein along with several vitamins and minerals to promote strength and energy, easy digestion, immune support and brain and memory. A collection of 23 vitamins, minerals and antioxidants make up the shake, including vitamins A, C, D, E, K, zinc, calcium and selenium. Other ingredients include avocado oil, milk protein isolate, date and agave syrup, chicory root fiber and monk fruit extract.
The company is now scaling into assisted living communities and retail channels to serve a caregiver generation focused on higher nutritional standards for their elders, Iris Ventures said.
