[Funding alert] US and India-based personalised supplements company 1Balance raises $2M led by Accel Partners
1Balance will use new funds to put in place production facilities, a product team, and a distribution network, enabling the firm to create the best quality personalised supplements.
The US and India-focused natural supplements company 1Balance, which offers personalised healthy living products on a subscription basis, on Thursday announced it had raised $2 million in seed funding.
The round was led by Accel Partners with participation from Larry Braitman and a group of prominent angel investors.
Subrata Mitra, Founder and Managing Partner at Accel Partners, said,
“1Balance has a unique approach and positioning in the healthy living segment: It is unifying latest technology and traditional herbal sciences (like Ayurveda) to deliver a set of robust health and wellness products. With personalisation at its core, 1Balance is positioned well to emerge as a leader in the healthy lifestyle space."
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In a statement, the company said these funds will help it to put production facilities, a product team, and a distribution network in place, enabling the firm to create the highest quality products.
The proprietary technology-driven personalisation platform builds and ships a completely herbal and personalised supplement, based on your metabolic profile, arrived at from a series of questions that you answer online.
The platform also offers other personalised products (like tea) which are made with herbal ingredients, and good specifically for your metabolism, it added.
1Balance was founded in December 2018 by Dikshant Dave (CEO), Shrinivasa Sharma, and Karthikeyan Iyer. Prior to this, Dikshant lead a company named CureJoy, focused on healthy living and wellness, and quit it when 1Balance set up its India office in March 2019.
Larry Braitman, one of the key investors who also plays an active role in 1Balance at a strategic level, said,
“We are seeing a significant trend in the way people are looking at their own health now. The emphasis has gone back to healthy living as opposed to a healthcare or disease-management mindset. And I see that 1Balance has this philosophy at its core. This is a company that breathes this DNA and to me that is going to be the key, as this space heats up further.”
Last week, Accel also led a $1 million seed funding round in US and Bengaluru-based Spacejoy, an e-design startup offering interior design as a service.
(Edited by Teja Lele Desai)