As we all know, healthy habits lead to a long happy life. But, in general, good habits are hard to embrace and adopt, considering our fast-paced lifestyle.
In this regard, Simple, an AI-powered nutrition app helps people to gain a better understanding of behavioral habits and improve their nutrition and lifestyles.
Secured £3.8 million
Recently, Limassol-based startup secured $5 million (approx £3.8 million) in Series A funding at a $42 million (approx £31 million) post-money valuation. This brings the total capital raised to over $8 million (approx £6 million).
“We want to build a product that would make it easier for people to live healthy lives. The idea came up in 2019, with a conversation with Yuri Gurski, the CEO at Palta and founder of Flo,” says Alex Ilinskiy, co-founder and CEO of Simple.
Who led the round?
The round was co-led by Target Global and Palta, the co-founding company behind Simple. Others including S16 Angel Fund and Supernova also participated in the round.
How will the funding be used?
The Limassol-based company will use the funding in R&D, AI technology, content production, development of new methodology, and increasing its medical and data science team, to improve the overall value and quality of the platform to boost user engagement.
In the fall, the company invested in product localisation in 6 languages including French, Portuguese, Spanish, Italian, German to infiltrate European and South American markets.
“Growing number of people are becoming conscious about the food choices they are making. Simple is offering a comprehensive, yet easy to use product, says Alexander Frolov, general partner at Target Global.
Companion for healthy and conscious diet
Founded in 2019 by Mike Prytkov and Alex Ilinskiy, Simple is on a mission to help users transition to a healthy and conscious diet through personalized insights based on the user’s behavioral patterns and helps them to improve their daily fasting routine.
In an attempt to make this happen, the company uses tools such as data collection, pattern selection, advice, magazines, and education about health and weight loss. The app integrates the following data from the Health app (HealthKit) to keep track of your body status: steps, weight, and water intake.
As per the company’s claims, the platform hits 6.3M downloads in just 1 year, with over half a million users from the UK.
“Simple helps people build their personal wellness journey, making them more and more in control of their nutrition. Even correcting one wrong habit at a time, it can also make a difference in someone’s life,” says Natalia Vodianova, angel impact investor.
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