Muniq

Muniq's 'Healthy Gut' Nutritional Shake Scores $8 Million

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.

Subscribe to our newsletter to catch every headline.

On this week's episode of Office Hours, you'll hear from Ynon Kreiz, the CEO of Mattel since 2018. Prior, he served on Mattel's Board. We discuss the Barbie movie in production, just one product that's leveraging the iconic brand's IP, what Mattel is doing towards achieving environmental sustainability and the priority Mattel places on DEI. Also, hear the answer to a burning UNO game question hotly-debated in my family.

Read more Show less

Michael Jones and Peter Pham, the founders of Science Inc., officially joined the SPAC frenzy on Tuesday, with a special purpose acquisition company (SPAC) of their own valued at $270 million.

In an announcement, Jones and Pham said their SPAC, Science Strategic Acquisition Corp. Alpha, would debut on the NASDAQ today by selling 27 million units at $10 a share. The SPAC plans on merging with a company in the direct-to-consumer (DTC) services space and/or mobile and entertainment sectors.

Read more Show less
RELATEDTRENDING