Following a £1.4 million funding round supported by investors including Spurs striker and England captain Harry Kane earlier this year, Bio&Me has secured a further £1.6 million investment.
The gut health food brand says the funding round shows strong investor confidence and follows Bio&Me more than doubling its revenue in the past year and gaining seven new retail launches.
The funds will be used to invest in marketing to grow the core brand, drive consumer awareness of the importance of looking after gut health, help launch a major strategic innovation in 2023 and grow Bio&Me’s sales team.
“The fact our revenue has more than doubled year-on-year made it a great time for us to do our raise,” says Bio&Me co-founder and CEO, Jon Walsh. “Bio&Me is now in a really strong position to continue its growth rate across 2023, driven by consumer demand for products that taste good as well as do good. We’re looking ahead to our next big gut health category launch next year – watch this space!”
My goal has always to been to make tasty food solutions that can carry genuine health claims
FMCG entrepreneur and lead investor, Giles Brook, adds: “Collectively the team has done a fantastic job raising our funding target in such a short time frame with 70% of those funds coming from existing investors, showing the degree of confidence they have in the business, brand and team. This raise is a reflection of how far Bio&Me has come in 2022. The business has more than doubled in size, demonstrating category leading rate-of-sale and repeat rates through an ever-increasing loyal customer fanbase. With a significant amount of incremental business already secured for 2023, we believe it’s set to be another landmark year with even more consumers coming on board and adopting Bio&Me’s great tasting, gut-healthy products into their daily lives.”
Dr Megan Rossi, Bio&Me co-founder, comments: “I am so grateful to our current and new investors for believing in us and our mission. My goal has always to been to make tasty food solutions that can carry genuine health claims. As a dietitian and scientist, that is what matters to me, and I believe is what is driving Bio&Me’s growth.”
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Nov 25, 2022