Muniq's 'Healthy Gut' Nutritional Shake Scores $8 Million
Francesca Billington is a dot.LA editorial intern. She's previously reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. Before joining dot.LA, she was a communications fellow at an environmental science research center in Sri Lanka. She graduated from Princeton in 2019 with a degree in anthropology.
Los Angeles-based Muniq, a startup selling prebiotic nutritional shakes, closed an $8.2 million Series A round Tuesday led by Alpha Edison and Acre Ventures Partners.
The direct-to-consumer company, which does business as Uplifting Results Labs, launched its first line in May of 2020.
It was founded by CEO Marc Washington, the former chief financial officer at The Wonderful Company — which owns brands like FIJI Water and POM Wonderful — and former chief executive at supplement company Irwin Naturals.
Muniq sells itself as a food tech company promoting a healthy gut health microbiome with a line of prebiotic shakes. Washington said many of his customers have diabetes or other chronic conditions. Others are just looking to lose weight.
"I think that over the next five to 10 years gut health will continue to be at the forefront of health and wellness," he said. "Especially when you look at the conditions we're trying to address, almost all of them have had a disproportionate effect on minority communities. As a Black founder, it's something that I'm personally passionate about."
Washington will use the funds to build his team and conduct more clinical research. His immediate goal is to continue building an online presence and eventually get the products into brick-and-mortar stores.
The raise marks Muniq's second round of funding following a $5 million seed round led by The Production Board, a San Francisco incubator where Washington began his company.
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