Seed's New $40M in Funding Will Let It 'Go Beyond the Gut'

Francesca Billington

Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.

Seed

Seed Health, the Venice-based biosciences startup known for its popular Goop-approved daily probiotic, closed a $40 million Series A round Wednesday that it hopes to use to ramp up clinical research and launch new products later this year.

The direct-to-consumer company focused on gut health has watched sales multiply by 20 times over the past two years for its probiotic supplement that it bills as a way to "support systemic health."


A month's supply of the Daily Synbiotic retails for $49.99. It's only sold online for now, but co-founder and co-CEO Ara Katz said the company is eyeing retailers outside of the U.S. in a push for "global distribution."

The round was led by The Craftory, a firm focused on consumer packaged goods, along with ARTIS Ventures and GISEV. Previous investors including Founders Fund and 8VS also participated.

Seed A month's supply of the Daily Synbiotic retails for $49.99.

The company will use the funding boost for research and clinical trials and to build out its roster of academics and experts that are part of the company's "scientific board." Like other dietary supplements, Seed's product was not reviewed by the U.S. Food and Drug Association before going to market.

"The funding is really to launch new categories," said Katz, who co-founded Seed in 2016 with co-CEO Raja Dhir. The pair also co-founded LUCA Biologics, a Cambridge, Massachusetts-based biotech company.

"So much of our work and the products we're developing go beyond the gut," she said.

The executive wouldn't disclose details about the products in development, but she said they're related to skin care and oral hygiene.

In February, the company announced it acquired Auggi Technologies Inc., a New York-based artificial intelligence company focused on tracking and analyzing digestive health.

Before summer of 2021, Seed will launch a beta version of its consumer-focused digital product based on a stool database powered by Auggi's technology, which lets patients photograph their stool and document symptoms through an app.
https://twitter.com/frosebillington
francesca@dot.la

Subscribe to our newsletter to catch every headline.

Cadence

Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage
Courtesy of Greater Good Health

The pandemic highlighted what’s been a growing trend for years: Medical students are prioritizing high-paying specialty fields over primary care, leading to a shortage of primary care doctors who take care of a patient’s day-to-day health concerns. These physicians are a cornerstone of preventative health care, which when addressed can lower health care costs for patients, insurers and the government. But there’s a massive shortage of doctors all over the country, and the pipeline for primary care physicians is even weaker.

One local startup is offering a possible answer to this supply squeeze: nurse practitioners.

On Wednesday, Manhattan Beach-based Greater Good Health unveiled $10 million in new funding led by LRVHealth, adding to $3 million in seed funding raised by the startup last year. The company employs nurse practitioners and pairs them with doctor’s offices and medical clinics; this allows nurse practitioners to take on patients who would otherwise have to wait weeks, or even months, to see a doctor.

Read more Show less

Plus Capital Partner Amanda Groves on Celebrity Equity Investments

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

Read more Show less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending