Nutrition analytics startup Zoe has raised $30 million in funding to offer personalized nutrition services to individual users worldwide.
Zoe received a spotlight during the COVID-19 pandemic as its platform provided early data on the spread of the disease, its symptoms and post-infection effects. Since COVID-19 have become more manageable, Zoe has returned to its original mission — to provide insights into what people eat and how they enjoy their meals.
The Zoe app utilizes self-reporting technology that tracks and develops a nutrition study on various microbes in the human body. Upon registering, users can pay around $367.86 for a test kit that gives initial microbiome data of their systems. This kit includes a blood fat test, a gut microbiome test, a real-time blood sugar sensor and test meals.
Zoe users can choose among several subscription plans to receive insights about their inner workings. The plans start at around $73.54 per month, but users can get a better deal by taking out an annual subscription.
American venture capital firm Accomplice led this funding round. Participants from the previous round, like Ahren and Balderton Capital, also participated in the fundraising. Zoe had earlier received $25 million in Series B funding, which according to CEO Jonathan Wolf, mostly had yet to be utilized.
The startup plans to use funds from this round to scale up its operations, hoping to serve additional 250,000 people on its waiting list. Wolf said these people had been on the list for over a year.
We are seeing a big acceleration in customer demand
Jonathan Wolf, CEO
“We are seeing a big acceleration in customer demand so what we want to do is scale our business significantly to be able to meet that demand,” Wolf explained. “Given the tough economic environment, we wanted to make sure we have the capital to do this.”
In the future, Zoe wants to expand beyond diet-related analytics. Wolf explained the startup’s plans to use its tech on other long-term health factors, including sleep and physical activities.
Currently, Zoe has more than 5 million users worldwide. Around 50,000 of those users are active paying users.
