The plant-based food tech brand, which claims to have developed the world’s first genetically personalised nutrition shake, secured the backing of two investors on the UK TV show Dragon's Den. In the show which aired on 6 May, Peter Jones and Touker Suleyman invested a combined £50,000 for a 15% stake in the business.
CEO and co-founder Jeremy Poland, who was previously a consultant to the health care industry, explains why he felt this innovation was needed.
“It was about five or six years ago that I did a DNA test and received my long report with all my results. I had an awful lot of information but knowing how to actually make changes to my diet and lifestyle was another question. I realised all these insights could only get me so far and what I wanted was a nutrition product suited to my specific genes.”
Poland teamed up with co-founders Hugo Jones and Alex Blyth with the aim of creating a service which would allow consumers to test their DNA and receive personalised protein shakes with nutrition designed around their genes.
The company was created in 2017, with years devoted to R&D, beta-testing and fund raising before it officially launched to the UK in January this
year.
It was at the end of last year that Poland was invited into the den.
“The show reached out top me just as we were planning for a crowd funding round. The time between being contacted by the show and standing in front of the dragons was only about 4 or 5 weeks so it was a very quick turn around and absolute chaos because we were preparing for the crowd funding round as well as preparing the pitch for the dragons.
“On the day of filming, I arrived at 6am, ready for my slot at 11am, but because a lot of the pitches ran over I ended up not being seen till 4pm. I spent 8 hours rehearsing my numbers in this little cabin.
“All that rehearsing really paid off as I ended up speaking to the dragons for two hours and I felt I answered all their questions and concerns very successfully.”
Since the show, NGX has been backed by crowdfunding investors, raising £450,000, sitting the team in good stead to grow the busines sin the UK this year, before looking to enter the US market.
“Getting the publicity from the show has given our sales a huge boost, after only officially launching in January, we’re on track to make £40,000 in sales this month.”
NGX encourages customers to sign up by purchasing a DNA test kit plus two personalised Body Fuel pouches and a flavour pouch, for £129.99. The two pouches contain 28 servings. Each pouch (containing 14 servings) then costs £30.
Customers can also buy a selection of generic products from NGX: NGX PowerPack including blended pea protein, brown rice, oats and creatine designed to maximise workout recovery; NGX SuperBerry Flavour Boost filled with natural berries to add a tasty zing to shakes; and the NGX Cacao & Coconut Flavour Boost, to add a rich, dark and smooth flavour to shakes.