Seed Health has raised $40 million in Series A funding.
The Venice, Calif.-based company was created in 2016 by Ara Katz and Raja Dhir, cofounders and chief executive officers. Working with a scientific advisory board made up of international microbiome experts, led by Dr. Gregor Reid, they develop probiotics.
The financing is led by British venture capital firm The Craftory, Artis Ventures and Gisev, with “participation” from existing investors, Founders Fund and 8VC. The probiotics market is worth an estimated $57.2 billion, according to Seed Health, which is “on track” for a 8,948 percent three-year growth rate by the end of the second quarter of this year.
Seed Health produces a probiotic and prebiotic supplement, “Daily Synbiotic,” formulated for gut, digestive and immune benefits. (Probiotics are live bacteria found in foods, while prebiotics are nondigestible carbohydrates that are linked to promoting the growth of beneficial microorganisms in the intestines, according to scientists.) A 30-day supply, with 60 capsules, is priced at $49.99 and available at Seed.com. It’s vegan, dairy-free, soy-free, gluten-free and made with no preservatives, using a proprietary formulation “comprised of clinically and scientifically studied strains.”
With the funding, Seed Health plans to introduce skin care, oral care and infant health, as well as expand internationally. The first area of interest is the Asia-Pacific region, where the market is projected to have a 46 percent global growth rate in the next five years, according to the company. Katz and Dhir also intend to widen their clinical research and grow their team.