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Nokia Growth Partners and others invest $10 M in Health Startup Lifesum

Tracking and fulfilling dietary deficiencies

Stockholm-based health startup has raised $10 million in a round led by Nokia Growth Partners (NGP). Other investors include Draper Esprit, Bauer Media Group and SparkLabs Global Ventures.

Founded in 2008 by Martin Wählby and Tove Westlund, Lifesum does more than just tracking your food habits and exercise regime. It is partnering with local restaurants and juice cafes to monitor people’s food preferences and find out what vitamins and minerals are lacking from their diet.

Looking for Partnerships

The Swedish startup is looking for partnership prospects with companies operating in food, pharmaceuticals, fitness and DNA sectors.  It has collaborated with Crussh, a U.K. based food and juice bar. It overviews the user data to determine what nutrients are lacking from their diet. This data is used to create new juice mocktails to help them overcome those deficiencies.

Future Plans and Current Portfolio

The startup will now use this money to expand its global operations. CEO, Henrik Torstensson believes that that the backing from NGP is a major support and a big boom to their operations. Since NGP’s office is in Silicon Valley, Lifesum’s task of expanding in the U.S. becomes easier. It is already a market leader in countries like France, Germany, Scandinavia, Italy and Russia.

Takeaways:

  • Stockholm-based health startup has raised $10 million in a round led by Nokia Growth Partners (NGP).
  • The Swedish startup is looking for partnership prospects with companies operating in food, pharmaceuticals, fitness and DNA sectors.
  • It is partnering with local restaurants and juice cafes to monitor people’s food preferences and find out what vitamins and minerals are lacking from their diet.
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