Total amount raised
$103.7 Millions
Latest funding date
7/1/2024
Location
ZOE has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a personalized nutrition program backed by scientific research, aiming to improve various aspects of health.
Keep reading to explore the intricacies of ZOE's fundraising journey and the investors backing this innovative platform.
What Is ZOE?
ZOE, founded in 2017, is a personalized nutrition company based in Boston, Massachusetts. The company was established by George Hadjigeorgiou and Jonathan Wolf, with Prof Tim Spector as a scientific cofounder.
Specializing in personalized nutrition, ZOE operates the world's largest nutrition-science study and offers at-home test kits, continuous glucose monitoring, and a mobile app to help users improve their dietary habits.
With a team of 251-500 employees, ZOE leverages scientific research to provide data-driven insights and personalized advice, aiming to enhance overall well-being.
How Much Funding Has ZOE Raised?
- Seed Round
- Amount Raised: $8M
- Date: August 2018
- Lead Investors: Tim Kendall
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of ZOE's personalized nutrition platform.
- Series A
- Amount Raised: $19M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand research capabilities and enhance the product offering.
- Series B
- Amount Raised: $20M
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Equity Crowdfunding
- Amount Raised: £7.4M
- Date: December 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage the community and raise funds for further development.
- Series B
- Amount Raised: $30M
- Date: December 2022
- Lead Investors: Accomplice
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance technological infrastructure.
- Series B
- Amount Raised: $2.5M
- Date: March 2023
- Lead Investors: Flight Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development efforts.
- Series B
- Amount Raised: £11.7M
- Date: July 2024
- Lead Investors: Coefficient Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into the US market and combat the health crisis caused by ultra-processed foods.
Total Amount Raised: $118M. Current Valuation: Not publicly disclosed.
Key Investors
- Coefficient Capital
- Details: Coefficient Capital is a New York-based venture capital firm. They recently invested $15 million in ZOE to support its expansion into the US market.
- Investment Focus Areas: Consumer brands, health tech, wellness startups.
- Notable Investments: ZOE.
- Flight Fund
- Details: Flight Fund is managed by Steven Bartlett, a well-known entrepreneur and host of the podcast "Diary of a CEO." The fund previously invested £2 million into ZOE in March 2023.
- Investment Focus Areas: Health tech, wellness startups, consumer brands.
- Notable Investments: ZOE.
- Accomplice
- Details: Accomplice is a venture capital firm that has been involved in multiple funding rounds for ZOE. They focus on early-stage investments in technology and consumer sectors.
- Investment Focus Areas: Technology, consumer brands, health tech.
- Notable Investments: Not publicly disclosed.
- Tim Kendall
- Details: Tim Kendall is an individual investor who led the seed round for ZOE. He is known for his previous roles at Pinterest and Facebook.
- Investment Focus Areas: Technology, consumer brands, health tech.
- Notable Investments: Not publicly disclosed.
- Balderton Capital
- Details: Balderton Capital is a London-based venture capital firm. They have been a significant investor in ZOE, supporting its growth and development.
- Investment Focus Areas: Technology, health tech, consumer brands.
- Notable Investments: Revolut, Citymapper, ZOE.
What's Next for ZOE?
With a fresh $15 million injection, ZOE is poised to expand its footprint in the U.S. market, leveraging its advanced technology and personalized nutrition programs. The company aims to address the health crisis caused by ultra-processed foods, offering a significant opportunity to dominate the market with its innovative at-home test kits and new supplement, Daily30+.
As ZOE scales, future fundraising rounds seem likely, especially given the growing interest in personalized nutrition and health monitoring. However, the company may face challenges such as regulatory hurdles, competition, and ensuring the accuracy of its test kits. Overcoming these obstacles will be crucial for ZOE's continued success and expansion.
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