Bioniq Raises $15M in Series B Round to Enhance Custom Vitamin Offerings
- 22-Jul-2024 3:32 PM
- Journalist: Rene Swann
Bioniq, established in 2019 and known for its personalized supplements based on blood biomarker data, has successfully closed its $15M Series B funding round. This oversubscribed round was spearheaded by Principal Investors HV Capital and Unbound, prominent European venture capital firms. With a valuation of $75M, Bioniq plans to use the funds to enhance its global market presence by further disrupting the dietary supplements sector. The company will concentrate on product development, including integrating global laboratory networks, expanding its market and operational footprint, and growing its human resources in the U.S. and the Middle East. Additionally, Bioniq will launch a corporate platform designed specifically for medical, wellness, and athletic institutions.
Bioniq's tailored solutions, which leverage individual data and health goals, have experienced substantial growth over the past 12 months, with the U.S. market now accounting for over 50% of its customer base. Some regions have seen growth exceeding 500% in the last two quarters. The company’s ability to deliver measurable before-and-after assessments of users’ nutrient needs and optimization progress has been a key advantage in its collaborations with leading health and sports organizations, such as Lanserhof and UFC. As a result, Bioniq has become a preferred choice for top athletes worldwide, including Manchester United’s Diogo Dalot and former NBA All-Star Andrei Kirilenko, who have relied on Bioniq for years to optimize their micronutrient levels and enhance performance and recovery.
“We've transitioned into a new era of nutritional supplementation over the past six years, and it's clear that one-size-fits-all solutions are no longer effective,” said Vadim Fedotov, co-founder and CEO of Bioniq. “Every individual’s health journey is distinct and evolving.” Customers require advanced, adaptable products that offer evolving support for their personal health goals. Our AI-driven approach and comprehensive biochemical database enable us to create tailored supplements that deliver measurable results and address individual needs. In addition to fulfilling consumer demand, we are establishing a new industry standard by ensuring transparency in both the process and outcomes for our users."
Over the past decade, Bioniq has developed the largest proprietary biochemical database of its kind, utilizing blood test data from customers across five continents. The AI-powered, patent-pending Bioniq algorithm evaluates an individual’s height, weight, age, lifestyle, and health goals to accurately pinpoint micronutrient imbalances and generate a custom supplement formula designed to optimize health.
Bioniq PRO provides top performers and health enthusiasts with the highest degree of personalization by integrating blood biomarker data into its algorithm. Users can either upload their existing bloodwork to receive recommendations based on a global data repository or schedule a blood test through Bioniq via a partner lab. The system then analyzes the blood biomarker data to evaluate current nutrient levels, detect imbalances, and address them with a custom daily supplement formula. Additionally, 1:1 nutrition consultations offer users the chance to discuss their specific needs and next steps with a Registered Dietitian.
Bioniq GO offers a more accessible option by leveraging the company's proprietary database. It uses a questionnaire to guide the AI algorithm in recommending a personalized supplement blend based on the user’s responses and the blood biomarker data of previous users.
All Bioniq supplements are Swiss-made, pharmaceutical-grade, and use precise micro-dosing to meet individual needs and address deficiencies. Each formula is tailored specifically for the user and includes a unique combination of antioxidants, vitamins, minerals, phytonutrients, amino acids, and prebiotic fiber. Instead of traditional pills and capsules, the product is delivered in patented prebiotic guar granules, which are designed to mimic the body’s natural digestion process, reducing nutrient competition and enhancing bioavailability.