ShopWell Labs has closed a $3.4 million investment to grow its nutrition-driven food discovery platform. Finistere Ventures led the round, with participation from Fairhaven Capital, Munich Venture Partners, S2G Ventures and ATA Ventures. The company has raised $11.4 million in funding to date.
“By listening to consumers and partnering with top retailers and food manufacturers, we aim to become the go-to personalized nutrition platform for today’s mobile-savvy consumers,” said Dr. Elliott Grant, CEO of ShopWell Labs. “We need to work together to make it easier for people to eat well — especially the millions of American shoppers and their families trying to adhere to special dietary restrictions, manage disease states, or avoid the consequences of allergens.”
More than two million iOS and Android app users already rely on ShopWell to make smart food choices.ShopWell gives consumers their own personal nutrition coach, accessible anytime and anywhere, to help them eat better. More than two million iOS and Android app users already rely on ShopWell to make smart food choices based on age and gender, as well as their specific goals, health conditions, and food allergies. The app’s patented algorithm calculates personalized scores for food items and makes recommendations. It has more than 300,000 items in its database to do its magic, and can score foods based on a quick barcode scan or product search to recommend “better-for-you” alternatives.
Today, many ShopWell users are managing chronic health conditions or food allergies, and say it makes shopping easier, faster, and less stressful. On a daily basis, the ShopWell app makes over 10,000 food recommendations, and has been used in more than 137,000 stores, or over 90 percent of grocery chains in the US.
With this latest funding, ShopWell will increase investment in partnerships with retailers, food manufacturers, and other key members of the food system. The company is already in discussions with major retailers and technology partners to integrate its technology.