Total amount raised
$103.7 Million
Latest funding date
7/1/2024
Location
ZOE has successfully navigated eight funding rounds, attracting investments from notable firms such as Balderton Capital, Daphni, and Coefficient Capital. The company's latest funding round was a Series B, led by Coefficient Capital.
Keep reading to explore the intricacies of ZOE's fundraising journey and the investors backing this innovative health and nutrition platform.
What Is ZOE?
ZOE is a personalized nutrition company dedicated to improving health through scientifically-backed products and personalized advice. The company operates in the health care, nutrition, personal health, and wellness industries.
Based in Boston, Massachusetts, ZOE has an employee count ranging between 251-500. The company has raised funding through eight rounds, with the latest being a Series B round. ZOE's mission is to enhance the health of millions through its innovative products and services.
How Much Funding Has ZOE Raised?
- Seed Round
- Amount Raised: USD 13,700,000
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product offerings and establish market presence.
- Seed Round
- Amount Raised: USD 8,000,000
- Date: August 2018
- Lead Investors: Tim Kendall
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further product development and expand the team.
- Series A
- Amount Raised: USD 19,000,000
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series B
- Amount Raised: USD 20,000,000
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in research and development.
- Equity Crowdfunding
- Amount Raised: GBP 7,407,351
- 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 expansion.
- Series B
- Amount Raised: USD 30,000,000
- Date: December 2022
- Lead Investors: Accomplice
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and expand product offerings.
- Series B
- Amount Raised: USD 2,500,000
- Date: March 2023
- Lead Investors: Flight Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance customer experience.
- Series B
- Amount Raised: GBP 11,700,000
- 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 impact of ultra-processed foods.
Total Amount Raised: USD 118,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Coefficient Capital
- Details: Coefficient Capital is a New York-based investment firm known for backing consumer brands. They recently invested $15 million in ZOE to support its expansion in the US market.
- Investment Focus Areas: Consumer brands, wellness, nutrition.
- Notable Investments: Oatly, ZOE.
- Flight Fund
- Details: Flight Fund is managed by Steven Bartlett, a well-known entrepreneur and host of the Diary of a CEO podcast. The fund previously invested £2 million in ZOE in March 2023.
- Investment Focus Areas: Wellness, startups, consumer brands.
- Notable Investments: ZOE.
- Balderton Capital
- Details: Balderton Capital is a London-based venture capital firm that invests in early-stage technology companies. They have been a significant investor in ZOE.
- Investment Focus Areas: Technology, health tech, consumer internet.
- Notable Investments: Revolut, Citymapper, ZOE.
- Daphni
- Details: Daphni is a European venture capital firm that focuses on investing in early-stage startups. They have been involved in ZOE's funding rounds.
- Investment Focus Areas: Digital technology, health tech, consumer services.
- Notable Investments: Back Market, Shine, ZOE.
- Accomplice
- Details: Accomplice is a venture capital firm that invests in early-stage technology companies. They have participated in ZOE's Series B funding round.
- Investment Focus Areas: Technology, health tech, consumer products.
- Notable Investments: DraftKings, AngelList, ZOE.
What's Next for ZOE?
With a fresh $15 million in Series B extension funding, ZOE is poised to expand its operations in the U.S. market, a significant opportunity given the widespread health issues related to poor nutrition. Leveraging advanced microbiome analysis and personalized nutrition programs, ZOE aims to address the health crisis caused by ultra-processed foods and build on its community of over 100,000 members.
Future fundraising opportunities seem promising, as the successful Series B extension suggests potential for further investment rounds. The company plans to introduce new products like the Daily30+ supplement and enhance its app features to attract more users. However, ZOE will need to navigate regulatory challenges, competition, and ensure the accuracy of its at-home test kits to maintain credibility and growth.
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