A Birmingham health products company has secured another funding round worth £7.9 million to support its expansion plans.
Digbeth-based Remedy Health has won backing from a round of investors comprising ADM Ventures, Cibus Enterprise Fund, Apater Capital and Henkel X.
The business, which was founded by entrepreneur Melissa Snover in 2019 and now has 70 staff, uses 3D printing technology to produce health and wellness products.
It is most well known for Nourished, a range of 3D-printed ‘stacks’ containing seven vitamins which are created bespoke to each individual customer based on a questionnaire.
The team recently launched Nourished Kids and is also planning to create personalised protein bars.
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This latest round of financing adds to the £2 million secured in spring last year and before Christmas the company announced it had secured a retail listing with high-end department store Selfridges.
Ms Snover said: “There has been a huge rise in the number of personalised nutrition products launched over the past few years, with the industry predicted to go to more than £11.4 billion in 2027.
“Our goal is to offer truly personalised nutrition in a single daily format.”
Remedy Health said its aim for this year was to reach 30,000 customers per month and around £7 million in sales, as well as expanding into curative health solutions and securing a foothold in the US market.
Ms Snover, who hails from New York and studied business at Lancaster University, made her name as founder and managing director of Lancashire-based Goody Good Stuff, a range of natural, vegetarian gummy sweets which were sold to Chewits owner Cloetta in 2013.