The Nue Co. supplement brand merging wellness and beauty in their offering has raised $1.5 million in seed funding. Morningside Group, which traditionally invests in biotechnology, life sciences, and green technology companies led the round.
WHO: Luxury supplement brand The Nue Co. was launched 8 months ago by British entrepreneur Jules Miller. The formulas are created using natural, organic ingredients that are sustainably sourced from around the world. The assortment consists of 11 products ranging from debloating wellness powders to supplements designed to aid in muscle tension, digestion, sleep, immunity, and fatigue. The business is distributed in 50 retailers globally such as Net-A-Porter, MR Porter, Goop, Credo, Soho House, and Ace Hotel. The business has plans for a 3,200-square-foot space at 39 Spring Street in New York that is slated to open Jan. 11. The space will be equipped with a trial-style bar at the back, a florist, and a lounge area.
WHY: The funds will be used to boost its direct-to-consumer sales online and support retail distribution.
IN THEIR OWN WORDS: “The Nue Co. is leading with an exciting pipeline of innovative products designed for the well-being of today’s consumers who live a very dynamic lifestyle,” said Morningside Director of Investments Maria Lam. “We are impressed with the creativity and energy of the management team who have been very astute in accessing the retail market.”
- The Nue Co. has raised $1.5 million in seed funding with Morningside Group leading the round.
- According to WWD the Nue Co. is on track to do $1 million in sales for 2017 with 65% of the sales coming from retail.
Photo: Courtesy of The Nue Co