DTC start-up Feel has secured a £4.5m investment to capitalise on growing demand in the multivitamins and supplements market from health-conscious consumers.
Founded by serial entrepreneur Boris Hodakel in late 2019, the business has grown rapidly in its first year, with active subscriptions for its range of all-natural multivitamins and omega 3 and immunity-boosting supplements exceeding 21,000.
It plans to use the seed funding to expand across Europe, Africa and the Middle East, grow its DTC subscription model and develop new products.
Fuel Ventures, a VC firm focused on start-ups, led the investment round, which also included Sova VC and TMT Investments, as well as angel investors.
The supplements market is booming around the world as consumers look for ways to stay healthy during the Covid pandemic.
Last week, natural health supplements brand Wild Nutrition announced it had received a £5m investment from PE house Piper.
Feel founder Boris Hodakel said he launched Feel to give consumers a “clean” alternative to mainstream supplements filled with additives and other chemicals.
“Consumers are getting a bad deal,” he added. “They spend a lot in investing in their health and wellbeing, believing they are doing themselves good. However, not all vitamins are created equal and the majority you find on retail shelves have a dirty formula that is difficult to absorb by the body, missing natural elements.
“We’re the cleanest alternative in the market – backed up by science – and continually invest in making our formulas as effective as possible while still affordable. We’re beyond thrilled to be continuing our growth journey thanks to this new investment. We’re committed to serving people who are conscious about what they put in their bodies and building a loyal customer base who see real results when embracing Feel’s products.”
Fuel Ventures managing partner Mark Pearson said the growth and expansion of Feel’s product line presented “a really exciting time” to invest and help the business become a significant disruptor to the health supplement market.
Sova VC partner Alexander Chikunov added: “Feel is in the process of disrupting consumer habits around vitamin intake and changing a marketplace worth $144bn by providing its customers with top-quality products, combined with flawless and friendly service. We are confident that Feel is poised for great success in the future and are very happy to be part of its journey.”