Her1, a Berlin-based female wellness startup, has raised €5.5 Million in a Series A funding round which will allow it to boost its expansion on the old continent.
The round was led by Five Seasons Ventures and included the participation of existing investors Rheingau Founders and IBB Ventures, bringing the total funding raised by the company since 2017 to €9 million.
The funding will be used to accelerate growth in the European market as well as to develop new products for women in different life stages.
The startup is also currently hiring new members for its finance, marketing, and products teams, which will allow the company to fulfill its mission to support “women of all ages and in all life stages.”
Her1 was founded by Chanyu Xu’s, an entrepreneur who has already founded two other startups in the field of food technology as well as in other industries.
She referred to how modern lifestyles can have an impact on health by commenting,
“A vicious cycle of stress, eating on the go, and feeling unwell quickly begins. This is why digestive problems are among the most common diseases of our time. Unfortunately, women are more often affected by it.”
The startup has launched several products that are designed with a natural, gluten and sugar-free, and plant-based approach to help customers create new healthy habits.
Xu believes that, “you are what you eat, and everything starts from within,” which has been the main philosophy behind the holistic vision of the startup since its founding.
Saskia Hoebée, Senior Associate at Five Seasons Ventures, referred to the firm’s investment in the startup by stating,
“After hunting the market for supplements and gut health for months, I’m beyond excited we found this ‘for women by women’ company with its amazing teamWe are looking forward to backing Chanyu Xu, Rita Ugwu, and the rest of the stellar team (Ana Cristina De la Colina, Christo Bouffil Mülle, and David Wilczynski ) on this journey.”
With experts predicting the global supplement industry to become a $298 billion industry by 2027, wellness startups are showing a lot of potential for investors at this time.
The German supplement industry is expected to see a growth of approximately 5.4% compound annual growth rate (CAGR) over the 2020-2027 period.