8 Food-As-Medicine Startups That Raised $400 Million in Funding
Our food is killing us.
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When was the last time you had a Big Mac with fries and Coca-Cola?
Poor nutrition is one of the main causes of chronic diseases, and the food we eat is harming our health:
Obesity rates have tripled in the last 40 years in the EU.
Dietary risk factors were linked to 11 million deaths globally in 2017.
Type 2 diabetes cases are projected to double by 2045
Maintaining a healthy diet might sound simple, but it's actually quite challenging, especially for low-income communities, who are hit hardest by illnesses linked to poor diets. Accessing fresh food continues to be a struggle, especially for them.
New companies using food as medicine are helping people get healthier from the inside. They understand that food plays a significant role in staying well. Some even customize meals for your health needs, like a prescription from a doctor. It's all about preventing, managing, and treating illness.
7 Food-As-Medicine companies have collectively raised $400 million in funding:
In Europe
1.Oviva (Zürich, Switzerland): Oviva is a digital platform serving as a diet and lifestyle coach, bringing together certified dietitians, health systems, and insurers. Oviva has raised a total of $113 million in funding.
2.ZOE (London, UK): ZOE leverages scientific research and advanced AI for personalized nutrition, aiming to improve the health of millions. ZOE has raised a total of $88.7 million in funding over 6 rounds.
3.Lifesum (Stockholm, Sweden): Lifesum is a Swedish digital health startup that helps clients become healthier by using applied psychology and technology. Lifesum has raised a total of $21.7 million in funding.
In the U.S.
4.Season Health (Texas, US): Season Health is the leading food-as-medicine platform that enables people with chronic conditions such as diabetes and kidney disease to eat well and live well. Combining clinical nutrition care, meal recommendations, education, and food delivery into one comprehensive solution, Season aims to help more people see food as a healthy pleasure and create a world well-fed. Season Health has raised a total of $43.6 million in funding over 4 rounds, with Andreessen Horowitz among its main investors.
5.Foodsmart (California, US): Foodsmart is the largest telehealth network of registered dietitians in the US with a mission to make eating well simple. The company’s telenutrition program, backed by a healthy food marketplace, makes healthy eating personalized, convenient, and affordable. Foodsmart has raised a total of $114.8 million in funding.
6.Bitewell (Colorado, US): Bitewell makes food-as-medicine accessible and actionable for disease prevention and condition management. Bitewell has raised a total of $6 million in funding over 3 rounds. Bitewell secured pre-seed funding from Antler in 2020.
7.Chiyo (NY, US): Chiyo is a femtech firm specializing in maternal nutrition. They provide meal delivery services tailored for fertility, pregnancy, and postpartum stages. Chiyo has secured $3 million in funding.
8.ModifyHealth (Georgia, US): ModifyHealth makes food as medicine simple, effective, and enjoyable for providers and patients. Along with home-delivered, medically tailored meals, ModifyHealth provides dietitian support, remote patient monitoring, and education to ensure sustained benefits. The company partners with providers, payors, employers, and patients to make adopting healthier diets and lifestyles a reality. ModifyHealth has raised a total of $14 million in funding.
Food-As-Medicine in Europe: An Overview
While big food companies promote unhealthy products and big pharmaceutical companies rush to get miracle weight loss drugs approved quickly, turning to food as medicine can help prevent, control, and sometimes even reverse long-lasting illnesses.
However, linking diet to real health results can be challenging. Convincing healthcare plans and skeptical consumers will require companies to conduct clinical trials.
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P.S. I used some of the following sources to obtain the data for this article:
(1)NIH (2) cbs.nl (3) Fitt Insider (4) Techcrunch (5) Dealroom (6) Photo by Brett Jordan on Unsplash
