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Financing led by Draper Associates, joined by ONCE Ventures, Revo Capital, 500 Startups, Global Ventures, and Halogen Ventures
San Francisco, CA – Vivoo, the first wellness tracker to provide personalized nutrition and lifestyle advice based on at-home urine tests, announces a $6 million Series A fundraise.
The round was led by Draper Associates, with participation from ONCE Ventures, Revo Capital, 500 Startups, Global Ventures, and Halogen Ventures – who specifically invest in technology start-ups led by women.
Proceeds will be used primarily to support the expansion of the team to leverage growing demand for wellness solutions, with the mobile health app market expected to be worth $236 billion by 2026.
Tim Draper, Founder and Managing Director of Draper Associates, commented:
“Personalized data driven health care is a major theme for us at Draper Associates. Miray and her team at Vivoo are collecting personalized data frictionlessly through a simple at-home pee test with actionable advice that allows customers to be proactive about their health. Wellness has become such a priority over the past year, with more people take proactive control of their health. We’re excited to work with Vivoo as the company expands its footprint globally.”
Launched in 2020, Vivoo already has over 50,000 users from over 100 different countries. Revenue is expected to grow more than 10X in 2021. Vivoo recently forged e-commerce relationships with Amazon and Walmart, increasing its reach exponentially.
Vivoo provides support and customized health advice, within minutes, from weekly at-home urine tests using AI technology. Urine was chosen as the test base as it can gauge thousands of health metrics and is easy to collect. Customers are sent the home testing kits and photograph the urine test strip which is then processed in the Vivoo app. Users can access data on 15 health factors, including hydration, pH balance, ketones, calcium, magnesium, Vitamin C, free radicals, kidney function, liver function, UTI risk, activity levels, stress levels, menstruation, and overall wellness.
The company continues to invest 20% of its budget in R&D and is expected to announce a significant expansion of its platform in November 2021. The new premium tier will collect three times as much data as before from Vivoo’s proprietary urine test strip technology and integrate with wearable data contained in users’ Apple Health and Google Fit apps.
Miray Tayfun, co-founder and CEO of Vivoo, said:
“Like many people interested in health and wellness, we wanted to find a fast, accurate at-home wellness tracker. We tried every health and wellness tracker and at-home test in the market but couldn’t find any single test that provided what we wanted. As bioengineers, we knew there had to be a way to create a simple at-home test and combine it with a recommendation engine to help people learn what their bodies need. With the investment, we will be able to continue to expand and meet the growing demand for customized wellness advice.
Further information
Thoburns
Johanna Lawson Dick
j.lawsondick@thoburns.com
About Vivoo
Vivoo offers the first wellness tracker based on an at-home urine test that provides accurate results and personalized health advice in two minutes. Vivoo’s smartphone-based tracker evaluates health aspects such as hydration, pH levels, ketones, UTI’s, and more. People can test on a one-time basis for a health snapshot, or weekly to track their progress over time.
Vivoo was founded by a team of female scientists who wanted to make it easy for anyone to track their wellness at home.
Learn more at vivoo.io or follow @VivooApp.
About Global Ventures
Global Ventures is a UAE-based venture capital firm, investing in founders and ideas scaling across emerging markets. Global Ventures backs global-minded founders that are leading growth-stage companies and using technology to transform emerging markets.
Portfolio companies include Arrow Labs, Buseet, Elmenus, Floranow, Helium Health, Holiday Me, Lean, Mamo, Much:on, Ogram, Paymob, Proximie, Pyypl, Spider Silk, Tabby, Tarabut Gateway, Team Apt, Tribal and Zension.
Noor Sweid and Basil Moftah are the General Partners of Global Ventures. More information can be found at https://www.global.vc/
© Press Release 2021
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