Personalized nutrition actor Lykon raises 10 million euros
Lykon develops personalized nutrition concepts and food supplements based on laboratory diagnostic blood and DNA analysis for home, artificial intelligence and medical research. Users receive personalized nutritional recommendations, recipes, products and a guide for prevention and health optimization.
The €10 million Series A funding was led by venture capital investor Zintinus. The round also included participation from venture debt provider BTG – Bridge To Growth, as well as existing investors including MA Ventures, the venture capital fund of Swiss retailer Migros Aare (managed by Berlin-based venture capital firm Redstone ) and media group Ippen Digital.
Lykon also announced the launch of a new brand identity to make the brand more accessible to raise awareness of personalized, science-based nutrition, according to a company press release.
“We are proud to have attracted Zintinus and other investors like BTG”, said Tobias Teuber, founder and CEO of Lykon. “Together with investors and our Lykonians, we are advancing our mission to build the world’s first personalized nutrition ecosystem. We will use the capital raised to further increase the usability of our products and to develop new markets and target groups.
Custom Nutrition Category Growth
Market researchers seem to roughly agree with the size of the global personalized nutrition category, with smart ideas pecking the category at US$0.98 billion in 2020. The category is expected to grow with a CAGR of 9.6% (2020-30) to reach US$3.56 billion by 2030. Research divegives similar figures, with a 2030 market estimated at $37.3 billion by 2030 and a CAGR of 11.5% between 2022 and 2030.
“The supplements segment includes dietary supplements and nutraceuticals, as well as functional foods,” said a recent report by The Brainy Insights. “The dietary supplements and nutraceuticals segment dominated the market in 2020. The growth of the segment is attributed to the increase in the rate of adoption and acceptance of supplements. With increasing instances of lifestyle issues, people are adopting nutritional supplements to maintain optimal balance.