VitaminLab Accelerates Growth of Personalized Supplementation through Series A Financing
The proceeds of the financing will be used to expand VitaminLab's facilities and state-of-the-art automation lines as well as scale its go-to-market activities across North America.
VICTORIA, BC, May 8, 2023 /PRNewswire/ - Vitamin-One Formulas Ltd (dba VitaminLab), a leader in truly personalized supplements designed to meet individual health needs, today announced that it has closed a Series A investment round co-led by Nimbus Synergies and DSM Venturing. The proceeds of the financing will be used to expand VitaminLab's facilities and state-of-the-art automation lines as well as scale its go-to-market activities across North America.
"VitaminLab's disruptive approach is revolutionizing the personalized nutrition industry and we are thrilled to continue supporting its positive impact on consumer health," said Paul Geyer, CEO of Nimbus Synergies. "We are also excited to have DSM Venturing's support on this journey, sharing their knowledge and experience. VitaminLab has been extremely capital efficient to-date and we know these additional funds and resources will fuel even faster growth, making personalized supplementation accessible to more people."
VitaminLab's innovative, evidence-based, approach considers multiple data points of an individual including health history, blood test results, and DNA . The personalized supplement is created using a proprietary process and machinery and formulated from a comprehensive nutrient list of more than 200 high-quality ingredients. VitaminLab has been growing rapidly through direct-to-consumer e-commerce, integrated healthcare practitioners and integrations with leading health testing companies.
"Our mission is to redefine the status quo and unlock better health outcomes by transforming how we take vitamins through tailored and truly unique formulas," says Anton Solonnikov, CEO of VitaminLab. "This financing allows us to extend our leadership position by further investing in our technology and expanding our sales and marketing into the practitioner market and new areas of growth."
As part of the investment, Greg McParland, Investment Director of DSM Venturing, will join the Board along with Laura Cassin, Investment Associate of Nimbus Synergies, who has been on the Board since November 2022.
ABOUT VITAMINLAB
VitaminLab creates truly personalized supplementation for individuals, patients and practitioners. It proudly formulates, tests and produces at its NSF-certified facility in downtown Victoria, BC, Canada. With innovations in engineering and robotics, VitaminLab has built a smart factory from the ground up to scale true personalization.
ABOUT NIMBUS SYNERGIES
Nimbus Synergies leads early-stage financings in innovative and complementary health technology companies in Canada. By bringing these companies together to share resources, industry specific knowledge, and relationships, Nimbus is accelerating their growth and increasing their likelihood of success. Nimbus is significantly impacting the health technology sector through its leadership as investor, partner and mentor.
ABOUT DSM VENTURING
DSM Venturing is the corporate venture arm of Royal DSM – a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM addresses with its products and solutions some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders. DSM and its associated companies deliver annual net sales of about €10 billion and is listed on Euronext Amsterdam.
Related links: http://getvitaminlab.com/
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SOURCE VitaminLab
