Biomel, a UK gut-health beverages brand, has secured £5.5m ($6.9m) investment from VC firm Iris Ventures to support the company’s expansion plans. The funding will be used to increase production capacity at Biomel’s innovation and manufacturing facility in west London. Founded in 2017, Biomel specializes in producing plant-based drinks, snack bars, and powders with a focus on promoting gut health. The company’s product range includes probiotic shots in single-serve 125ml and 510ml bottles in flavors such as coconut, chocolate, and strawberry. “Biomel’s omnichannel route-to-market has driven extraordinary organic growth, averaging over 80% per annum since launch.”
The company also offers dairy-free, lactose-free, and gluten-free prebiotic cereal bars in chocolate and chocolate hazelnut flavors. Biomel’s products are increasingly in demand, leading to impressive sales growth and operating profitability. Biomel products are available in national UK retailers such as Sainsbury’s, Marks and Spencer, and Waitrose, as well as through a D2C subscription service on its website. The start-up is also expanding its footprint in independent retailers and international markets.
According to Biomel co-founder and CEO, Steven Hegarty, the company aims to make good gut health delicious and easy through innovative products that support digestive and immune health. Biomel is positioned as a market leader in the category and is partnering with Iris Ventures to drive total category growth and market expansion through unique products and an innovation pipeline. “Biomel was born out of our own desire to live healthier and more fulfilling lives,” said Hegarty.
Iris Ventures, the advisor to Iris Fund I FCRE, a €100m ($109.19m) growth-equity fund targeting European and US brands, sees Biomel as a clear trailblazer in the plant-based gut health category. While their investment portfolio is diverse, other investments include Spanish vitamin-drink brand Olistic and Germany-based pet-health start-up Mammaly. The investment in Biomel is part of a larger trend in the food and beverage industry to support innovative products promoting health and wellness. The growth funding received by Biomel reflects broader food and beverage consumer trends towards gut health and plant-based products.
