Nutrition company Nutri-Genetix has turned to the crowd to fund the launch of a genetically personalised nutrition shake.
The company took to Crowdcube last month, looking for £100k in exchange of a 12% stake – valuing it at £1.3m.
With two weeks left to the end of the campaign, Nutri-Genetix has already raised more than £178k from 252 investors. It is open to overfund up to a maximum of £400k, with the extra investment to accelerate the business’ growth.
Nutri-Genetix plans to use the cash raised to fund a new year launch of its shakes through an online monthly subscription model.
Subscribers will receive a mouth swab DNA testing kit to carry out at home and send back to the company, which will then analyse the sample and blend a tailored shake to meet the “specific needs of each individual”.
Nutri-Genetix shakes are also made with 100% natural ingredients and are vegan, gluten, lactose and sugar-free.
“They are tailored and personalised based on how you metabolise nutrients, because ultimately that can vary quite a lot at the individual level,” co-CEO Jeremy Poland told The Grocer.
“After having done beta testing, we are now aiming for a new year’s launch of the product, when everyone is fighting to get fit and getting back on the healthy trend.”
Will DNA testing lead to mainstream personalised nutrition?
Following the UK launch, the company will focus on expanding in the US and Middle East markets, where its was able to secure early traction and partners.
NPD, including personalised protein bars and meal plans, is also part of the business future plans.
“Our focus for the time being is to get established with our launch proposition, which is a sports nutrition shake, but we certainly will be looking at other product formulations from the next year,” Poland added.
“They are a very easy product expansion lines we can tap into and we certainly won’t be waiting too long to get there.”
After 18 months of R&D, Nutri-Genetix is forecasting revenues of £46m within five years.
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