London-based health tech startup specializing in AI-driven supplements by leveraging blood biomarker data, Bioniq, has secured $15 million in an oversubscribed series B funding round to expand its global market share and continue disrupting the dietary supplements market.
Co-founded in 2019 by Vadim Fedotov, and Konstantin Karuzin, Bionic is currently valued at $75 million. The company’s latest funding round was co-led by leading European venture capital firms HV Capital and Unbound.
As the company announced on July 16, 2024, it would use the funds to accelerate product development, global laboratory network integrations, human resource, operational, and market expansion in the United States and the Middle East.
Additionally, it will also implement a corporate platform for wellness, medical, and athletic institutions.
Personalized Dietary Supplements
Bioniq’s approach focuses on personalized solutions according to an individual’s health data and health goals. It provides quantifiable progress tracking with before-and-after snapshots of the user’s nutrient requirement, optimizing progress.
Bioniq has built a massive biochemical database leveraging blood test data from millions of people across five continents.
Using the data, the platform’s AI-powered algorithms can assess an individual’s weight, height, lifestyle, age, and health goals and accurately analyze their micronutrient imbalances. Based on the assessment, the platform provides personalized formulas to help optimize health.
With sales from over 60 countries, Bioniq is well-positioned to continue expanding its market share and overall sales in the coming months.