AI-driven personalized supplements brand Bioniq raises $15M Series B

18-Jul-2024 - Last updated on 18-Jul-2024 at 12:14 GMT

Image courtesy of Bioniq

London-based personalized nutrition company Bioniq has announced it will use the funds from its recent Series B funding round to further expand globally through “continued disruption of the dietary supplements market."

From blood tests to personalized supplements

Founded in 2019, Bioniq leverages a patented algorithm based on blood test data from more than 100,000 people across four million biochemical data points to create a tailored supplement regime.

Moving forward, the company will focus on product development including global laboratory network integrations, market, operational and human resources expansion in the U.S. and the Middle East, and implementing a corporate platform for medical, wellness and athletic institutions, according to a press release. The U.S. is the company’s leading market, making up over 50% of its customer base.

"Bioniq's exceptional growth is a testament to its innovative approach for high quality personalized health solutions that professional athletes across the world rely on” said David Kuczek, general partner at HV Capital, which led the funding round, along with fellow European VCs Unbound.

“With sales from across 60 countries with the majority coming from North America, the most important market for health solutions globally, Bioniq is well-positioned to continue its trajectory of rapid expansion."

Shravin Mittal, Unbound’s CEO, added: "We are impressed by Bioniq's vision and technology, and we believe that they are disrupting the supplement industry with their personalized and science-based approach."

Growth

The company’s growth has been fuelled in part by its ability to provide quantifiable before-and-after snapshots of users’ nutrient needs and optimization progress. This has been one of the biggest assets in its partnerships with health and sports institutions such as Lanserhof and UFC.

Bioniq also works with top athletes, including Manchester United’s Diogo Dalot and former NBA All-Star Andrei Kirilenko, said the release.

"We've entered a new era in nutritional supplementation over the last six years, where it’s become clear that one-size-fits-all solutions are simply inefficient,” said Vadim Fedotov, co-founder and CEO of Bioniq.

“Everyone's health journey is unique and fluid. Customers need advanced, adaptable products that provide evolving support for personal health goals. Our AI-driven approach and extensive biochemical database allow us to create customized supplements that provide quantifiable results and cater to individuals’ specific needs.”

Bioniq currently offers two product tiers:

Bioniq PRO is positioned for high performers and health enthusiasts that offers users the option to upload existing bloodwork into the system to gain recommendations based upon a global repository of data or book a blood test through Bioniq via a partner lab.

Blood biomarker data is then analysed to assess current nutrient status, identify imbalances and address them by providing users with a tailor-made daily supplement formula. This offering also has 1:1 nutrition consultations with a Registered Dietitian.

Bioniq GO utilizes the company’s same proprietary database to offer users a more accessible option, based on a questionnaire that prompts the AI algorithm to recommend users with a unique supplement blend based on their responses and previous users’ blood biomarker data.

Rather than traditional pills and capsules, Bioniq’s product is delivered in prebiotic guar granules, which are said to be designed to mimic the way the body digests food, minimizing nutrient competition and maximizing bioavailability.