Israeli nutrition-related data services and analytics technology provider Nutrino announced today the completion of a $8 million Series A financing round of $8 million with Pereg Ventures, Nielsen Ventures and Gandyr Group joining existing investors - including the New York Angels group, which led the company's seed round. With this latest round the company has raised $10 million.
Nutrino CEO Yael Glassman said, "Our proprietary technology, FoodPrint™, uncovers the previously invisible connections between people and their food. Nutrino is where data meets nutrition, and as we've demonstrated in our work with multinational partners around nutrition and diabetes, the opportunity is vast. This funding round will enable us to significantly expand our commercial reach."
Nutrino was founded in 2011 by Yonatan Lipkin and Dr. Yaron Hadad.
The funds will be used to expand Nutrino's services across the digital health sector and foster partnerships in the food analytics and nutrition insights sector for diabetes sufferers. Nutrino's advanced platform and comprehensive food database enable companies in these fields to improve the success of their products and programs, better understand populations and eating patterns, and identify new areas of opportunity. Funding will also go towards developing Nutrino's database, which collates data from millions of food items globally, and is one of the largest in the world. The database is currently utilized by companies in industries from food and beverages to digital health, fitness and beyond.
Pereg Ventures managing partner Ziv Ben Barouch said, "Digital Health is predicted to be worth several hundreds of billions in the coming decade. With skyrocketing consumer demand for increased information about what they eat and growing health awareness, nutrition data is the largest untapped sector of this industry, and Nutrino is perfectly positioned to address this opportunity."
Nutrino's nutrition insights platform for collecting, processing and analyzing food-related data serves as an invaluable tool for individuals and businesses alike. Nutrino uses AI and machine learning to better understand individual responses to particular foods via feedback from wearables and other data-points. These unique contextual insights allow Nutrino to define an individual's FoodPrint™: the digital signature of how food affects a person's body. Understanding one's FoodPrint™ gives individuals greater control in using nutrition as a means of combatting chronic disease, managing weight and improving overall wellbeing. With an estimated 415 million people living with diabetes worldwide, expected to reach 642 million by 2040, Nutrino can offer smart, data-based, individualized insights for personal nutrition. The depth, precision, and clarity that Nutrino delivers empowers better food decisions and shapes better outcomes for individuals and businesses.
Published by Globes [online], Israel business news - www.globes-online.com - on April 10, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018