UK-based Rem3dy Health, the producer of personalised gummies brand Nourished, has raised £14m ($18.8m) to fund efforts to expand further overseas.
Investors in the round include Spain’s Hijos de Rivera, the owner of the Estrella Galicia beer brand.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Rem3dy used a convertible instrument for the capital raise called a Simple Agreement for Future Equity (SAFE). The final investments were received by the company earlier this year and were converted into shares this month.
Global food-and-drinks conglomerate Suntory also took part in the round. The group invested in 2022.
Other investors included Indian healthcare group Apollo Hospitals, French pharmaceutical major UPSA and Birmingham-based investor Future Planet Capital Regional.
The latest round values Rem3dy at £84m, a statement from the business said.
Rem3dy said it will use the money to support its expansion into markets like the US, the MENA region and India.
Nourished gummies have previously been available in the US. However, a note on the group’s US website at the time of writing suggests that import regulations brought in last year meant the company had to pause orders in August.
Speaking to Just Food, Caitlin Stanley, chief of staff at Nourished, said the US was a “relevant” market given the company’s founder and CEO Melissa Snover is American and has launched consumer goods brands in the market in the past.
According to LinkedIn, Snover previously owned the vegetarian gummies producer Goody Good Stuff, which was launched onto the market in 2010. That business was bought by Swedish confectionery group Cloetta in 2013.
Stanley also told Just Food “there’s a huge demand for personalised nutrition” in the MENA region. Rem3dy plans to launch the Nourished gummies in the MENA region later this year. The group plans to sell its gummies mainly through retailers and online in these markets.
Rem3dy will also put the money from the latest round towards “continued investment in automation, advanced manufacturing, and AI-driven personalised nutrition”, its statement said.
Funds will also support the expansion of the group’s portfolio to include “personalised solutions for pets, reflecting growing consumer demand for tailored wellness across both human and animal health”.
Rem3dy produces its Nourished 3D-printed personalised nutrient gummies at its in-house facility in Birmingham. The brand was launched onto the UK market in 2019 and has since entered other European countries. It has also launched a co-branded range of products in the region with UPSA.
In 2023, the group worked with Suntory to launch a range of gummies onto the Japanese market.
Reflecting on the latest investment, José Cabanas, chief marketing officer at Hijos de Rivera, said: “Nourished combines strong expertise with advanced technological capabilities in innovative, nutritional solutions, positioning the company at the forefront of this segment. We are excited to partner with them as we continue to explore this space.”
