Elo raises $10M Series A to grow Smart Nutrition
The Series A round was led by Octopus Ventures, with participation from Will Ventures and Re:Food.vc. The funding for the San Francisco-based company will be used to hire a new product team based in Finland and to scale up the supplement and protein products.
To those not frequently following the category of personalised nutrition, a $10M Series A round can seem out of the blue. For us at Proxy, having been closely with Elo since inception, getting to this point was all about the team's absolute dedication of improving the details every week. Not just in product or design, but in marketing, SEO and customer journey as well.
From the moment the company was formed, Proxy worked closely with the early Elo team to imagine the nutrition brand of the future. The concept is simple, but incredibly hard to execute - creating nutrition that is specific to you, based on your biomarkers, wearable usage and health data. Elo's pioneering concept required imagining a brand experience that is a leap beyond current supplement and protein brands.
What would a brand for smart, personalised nutrition look like and feel like? Rather than througha big brand reveal, the brand was born out of disciplined weekly iteration. It was a hundred or two small decisions and discussions that led to the brand in its current form - scientific, trustworthy, clear, personal. A brand that defines the category conventions for a huge new market for years to come.
For example, the label for the personalised protein blend went through countless iterations as the teams balanced information density, personalisation, utility and production. The same uncompromising care has gone to every bit of the brand, from shipping boxes to blog design, website landing page to SEO imagery. For the team at Proxy, seeing the relentless attention the Elo team puts to the smallest of details was eyeopening.
“Other personalized protein products use questionnaires to come up with the right formulation for you but provide very little information on dosing. At Elo, we take personalized protein to new heights by using your wearable, biomarker, and health data to formulate your custom blend and providing dosing guidance based on your latest activity.”
– Ari Tulla, CEO & Co-Founder, Elo Health
The result is a brand that is differentiated, highly relevant, and fast growing – with potential to be the category leading brand in Smart Nutrition. With the $10M Series A, the future Elo envisions is nearer than ever.