🇺🇸💰 ZOE RAISES $15M TO GROW US PRESENCE AMID OZEMPIC TREND
A pioneer of personalised nutrition, Zoe’s Series B extension was led by Coefficient Capital, taking total investment in the gut health platform to $118M.
The startup will use the capital to expand its presence in the US, where it’s available in all states bar New York (thanks to certain regulatory challenges). The stateside focus comes at a time when Ozempic and other GLP-1 agonist drugs have taken over the nation – one in eight Americans (around 30 million) have tried these weight loss medications.
Founded by CEO Jonathan Wolf, author and academic Tim Spector, and businessman George Hadjigeorgiou in 2017, Zoe offers users detailed personal nutrition advice by scoring every food on a scale of 0-100, based on a series of at-home blood fat, blood sugar and gut microbiome tests.
“We are going to start investing in marketing because there are millions of people we know we can help in the States,” Wolf told TechCrunch. “For the first time, the product is ready and mature enough for us to do that.”
Since the app’s launch in 2022, Zoe’s subscriber base has surpassed 130,000, but truly reflective of its demand is the number of people on its waiting list (which was, at one point, over 250,000).
Its users wear continuous glucose monitors (CGMs), allowing them to see fluctuations in blood sugar levels in real time. The idea is that you can see which foods produce the biggest spikes in your glucose, and tailor your diet accordingly.
The personalised nutrition space has been booming recently, as consumer awareness around gut health and overall wellness has risen since the Covid-19 pandemic, and weight loss drugs like Ozempic, Wegovy and Mounjaro® (tirzepatide) HCP have become central to food and nutrition conversations. Apps like Seed Health, Flore and Viome have all been focusing their technologies on the microbiome, while US-based Levels uses CGMs in a similar manner to Zoe.
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