Personalised supplement company, Bioniq has closed a US$15 million Series B funding round.
The oversubscribed round was led by principal investors HV Capital and Unbound. The funds will be used to further expand Bioniq’s global market share, focusing on product development, including global laboratory network integrations, market, operational, and human resources expansion in the US and the Middle East and implementing a corporate platform for medical, wellness, and athletic institutions.
Formed in 2019, Bioniq uses blood biomarker data to personalise its Swiss-made, pharmaceutical-grade supplements, which are used by health and sports institutions including the medical spa Lanserhof and UFC, as well as many athletes.
"We've entered a new era in nutritional supplementation over the last six years, where it’s become clear that one-size-fits-all solutions are simply inefficient,” said Vadim Fedotov, co-founder and CEO of Bioniq. “Everyone's health journey is unique and fluid. Customers need advanced, adaptable products that provide evolving support for personal health goals.
“Our biochemical database allow us to create customised supplements that provide quantifiable results and cater to individuals’ specific needs. Beyond meeting consumer demand, we’re setting a new standard in the industry by making the process and results transparent to users."
Over the last decade, Bioniq has built a proprietary biochemical database which leverages blood test data from customers across five continents. The AI-powered algorithm assesses an individual’s height, weight, age, lifestyle, and health goals to identify micronutrient imbalances and create a tailor-made supplement formula to optimise health.
Users have the option to upload existing blood samples into the system; to gain recommendations based upon a global repository of data or book a blood test through Bioniq via a partner lab. Blood biomarker data is then analysed to assess current nutrient status, identify imbalances, and address them by providing users with a tailor-made daily supplement formula. Nutrition consultations are also offered to discuss unique needs and next steps.
A more accessible option is also offered without the bloodwork. Bioniq GO uses the proprietary database and a questionnaire that prompts the AI algorithm to recommend users a unique supplement blend based on their responses and previous users’ blood biomarker data.
Each formula features antioxidants, vitamins, minerals, phytonutrients, amino acids and prebiotic fibre. The product is delivered in patented prebiotic guar granules, which are designed to be in line with the way the body digests food.
David Kuczek, general partner at HV Capital, says: "Bioniq's exceptional growth is a testament to its innovative approach to creating high quality, personalised health solutions. With sales from across 60 countries with the majority coming from North America, the most important market for health solutions globally, Bioniq is well-positioned to continue its trajectory of rapid expansion."
