Hims, Impossible Foods, FitBit, These Are the Start-Ups That Received The Most Funding in 2019
This week’s wellness news from around the world, impacting the industry, that you need to know to stay ahead, and be profitable in your business Dec. 16, 2019, investor edition.
In 2019 the $4.5 trillion dollar wellness industry was fueled by hundreds of health and wellness startups that received over $2 billion worth of investments. Here are the top categories that were funded as well as the companies that received the highest investments.
Wellness is a lucrative space for founders and investors alike, here are the most popular categories to watch moving into 2020. According to Kaleido Insights, tech dominates the market and will continue to grow as people seek more new alternatives to traditional healthcare.
Community - this includes on-demand fitness/wellness, on-demand elder care, and tech that creates wellness ecosystems, think ClassPass, which landed $239mil. This space received 37% of overall funding, or $811 million.
Body - this includes fitness, nutrition, sexual wellness, sleep and apparel. This space received 29% or $647 million and includes nutrition startups like uBiome.
Mind - is a big emerging category and addresses emotion, mindfulness, intelligence, and mental health. Apps like Calm, who raised $88mil is a leader in this category, that makes up 18% or $403 mil of the total.
Space - this area includes air, light, speech, sound, touch, and environmental wellness such as Well Real-Estate mogul Delos, and makes up 15% or $333 of total. Expect this area to increase.
1. $100m - Hims. Hims is a men's fitness, nutrition, and lifestyle company that proves wellness just isn't for women. It addresses issues men are usually too embarrassed to talk about, and falls in the 'body' space.
2. $100m - Casper. Casper is the unicorn product that helps promote healthy sleep. This mattress company also falls in the body category.
3. $300m - Impossible Foods. The 'Beyond Meat' rival raised over $300mil this year, and also falls into the body category.. This plant based burger brand is helping to pioneer the plant based movement.
4. $300m - Gympass. Gympass, who also raised over $300mil, aims to make fitness classes easier and more accessible to corporate employees. They're set to move into AI for the coming year, and falls in the 'community' category.
5. $2.1b - Fitbit. Taking the cake is wearables pioneer, Fitbit, who was acquired by Google for $2.1 bil, further allowing it's vast expansion. This tech also falls into the community category.
Moving forward, keep an eye out on apps and tech that can either address he holistic picture of mind, body, community and space, as well as solutions that aim to increase the convenience of wellness deliverables.
Welliance is a consultancy and advisor for founders and start ups in the wellness industry helping them grow and stay relevant in today's most dynamic marketplace. To get your free report on the top ways to skyrocket your wellness business revenue in 2020, CLICK HERE!