Personalized supplements speciliast, Bioniq, has announced the close of its US$15 million Series B funding round.
The reportedly oversubscribed round was led by Principal Investors HV Capital and Unbound, both leading European venture capitalists. The company is currently valued at US$75 million and will use the new funds to expand its global market share.
Going forwards, Bioniq will focus 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.
Originally founded in 2019, Bioniq’s approach to tailor-made supplements is based on blood biomarker data.
The company noted that it has… ‘seen significant growth in the last 12 months, with the highest demand from the US market, which now makes up over 50% of its customer base, with some regions growing over 500% in the last two quarters.’
Bioniq adds that its ability to provide quantifiable before-and-after snapshots of users’ nutrient needs and optimization progress has been one of the biggest assets in its partnerships with leading health and sports institutions such as Lanserhof and UFC.
“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 AI-driven approach and extensive biochemical database allow us to create customized 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 the users.”
Bioniq claims to have built the largest proprietary biochemical database of its kind, which leverages blood test data from customers across five continents.
‘The AI-powered patent-pending Bioniq algorithm assesses an individual’s height, weight, age, lifestyle, and health goals to precisely identify micronutrient imbalances and create a tailor-made supplement formula to help optimize health.’
Bioniq PRO offers athletes and health enthusiasts the highest level of personalization and incorporates blood biomarker data into its algorithm, offering users the option to upload existing bloodwork 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 analyzed to assess current nutrient status, identify imbalances, and address them by providing users with a tailor-made daily supplement formula. 1:1 nutrition consultations also allow users the opportunity to discuss unique needs and next steps with a registered dietitian.
Bioniq GO utilizes the company’s same proprietary database to offer users a more accessible option, based on a questionnaire that prompts the AI algorithm to recommend users with a unique supplement blend based on responses and previous users’ blood biomarker data.
Bioniq adds that all of its supplements are Swiss-made, pharmaceutical-grade and utilize precise micro-dosing to address bio-individual needs and deficiencies.
‘Each formula is created specifically for an individual user and features a unique mix of antioxidants, vitamins, minerals, phytonutrients, amino acids and prebiotic fiber. Rather than traditional pills and capsules, the product is delivered in patented prebiotic guar granules, which are designed to mimic the way the body digests food, minimizing nutrient competition and maximizing bioavailability.’
“Bioniq’s exceptional growth is a testament to its innovative approach for high quality personalized health solutions that professional athletes across the world rely on” said David Kuczek, General Partner at HV Capital.
“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.”
Shravin Mittal, CEO of Unbound, added “Bioniq’s innovative approach to nutrition is based on the idea that everyone has different nutritional needs and deficiencies, and that generic multivitamins are not enough to address them.
“We are impressed by Bioniq’s vision and technology, and we believe that they are disrupting the supplement industry with their personalized and science-based approach. We are excited to support them as they grow and scale their business.”
