FitnessGenes, a pioneer in DNA testing and interpretation, specializing in personalized fitness and nutrition, has just announced US$5 million funding by strategic partner SGHF. Based in Los Angeles and London, FitnessGenes is the positioned as the first European company in the genetics sector to raise a substantial Series A round.
FitnessGenes aims to remove the guesswork from fitness and nutrition by providing personalized plans based on complex analysis of each customer’s DNA, lifestyle and environment. Examining years of peer-validated scientific research, FitnessGenes helps customers understand their genetics and puts this precise knowledge into action to help athletes reach their goals most effectively.
SGHF is an Asia-Pacific partner that focuses on supporting start-ups in life science, healthcare and IOT (Internet of Things) industries globally, forming strong strategic partnerships with industry leaders, listed companies and sovereign funds. SGHF has invested in start-ups in the biotechnology, life-sciences and healthcare sectors, as well as in Aland Nutraceutical Holding, which owns International Vitamin Corporation (IVC), one of largest supplements companies in the world.
“We are delighted to have this vote of confidence from the team at SGHF so we can continue to build the world’s most personalized fitness and nutrition platform,” says Dr Dan Reardon, Co-founder and CEO. “Our mission is to bring transformation to millions of customers around the world who are overwhelmed and confused by the amount of choice and generic recommendations on the market.”
“We highly agree with FitnessGenes’ understanding of how genetic science will change our life and are impressed with the company’s innovation in the practice of applying genetics and technology to fitness and nutrition,” said Alex Liu, Managing Director of SGHF. “We look forward to working with the experienced and innovative management team to help scale FitnessGenes.”
FitnessGenes is in talks with other investors to close an additional US$5 million in funding – and plans to allocate its Series A round toward advancing its patent-pending platform, growing the product offering and expanding operations in North America and Europe.
Together with 23andme, FitnessGenes is part of a unique consortia launched by Illumina (NASDAQ: ILMN), a global leader in DNA sequencing and array technologies, to bring its latest genotyping array into healthcare, translational research and consumer genomics.
FitnessGenes, founded by scientists Dr Samantha Decombel and Dr Stuart Grice, and fitness and nutrition experts Dr Dan Reardon and Mark Gilbert, is committed to building on the foundations of its scientific and technological excellence that has attracted partnerships with top academic institutions such as the Universities of Oxford, Birmingham and Loughborough.
FitnessGenes is the only fitness genetic testing company to date to have been awarded funding by the UK Government’s innovation agency, Innovate UK (formerly the Technology Strategy Board).