Tracxn - Nutraceuticals Startup Landscape

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Nutraceuticals - Oct 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on October 26, 2018.
Nutraceuticals Feed Summary
4
Nutraceuticals > Feed Summary
Products derived from natural sources with extra health benefits in addition to the basic nutritional value found in food.
• Inclusions: The feed covers companies manufacturing
and marketing nutraceutical ingredients/raw materials,
functional foods, functional beverages, and dietary
supplements with detailed product sub-classification.
• Exclusions: The feed does not cover marketing
companies, distributors, retail chains, animal nutrition
products, and online platforms selling nutraceuticals.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$5.3B
Funding
156
Mega
Companies
6534652
FundedCovered on
Tracxn
3
Unicorns
5
Soonicorns
13
Minicorns
116
IPO’d Cos
194
Late Stage Cos
72
178
Acquisitions
190
DeadPooled
-
Acquihired
Series A+ Cos
Frutarom
(1933, Haifa)
Ingredion
(1906, Chicago)
Lonza
(1897, Basel)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Nutraceuticals
5
$300M - Series C
Body Armor (2011, Beverly Hills, $335M)
$35M - Series B
Before brands (2015, San Francisco, $48.1M)
$159M - PE
BOTAMEDI GROUP (2001, Seoul, $159M)
$35M - PE
OmniActive(2004, Mumbai, $35M)
$157M - PE
True Health (1987, Cottonwood, $157M)
$30M - Series B
Harmless Harvest (2009, San Francisco, $30M)
$35M - Series D
Prolacta Bioscience (1999, Los Angeles,
$93.7M)
$29M - Series B
Care/of (2016, New York City, $42.9M)
$35M - Series B
MycoTechnology (2013, Aurora, $74.7M)
$27.1M - Series B
Foodspring (2013, Berlin, $33.7M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Nutraceuticals > Feed Summary > Investment Trend Summary
Seed
AccelFoods (#3), Forerunner Ventures (#2), Angel Capital
Management (#1)
Series A/B
AccelFoods (#2), CAVU Venture Partners (#2), Ampersand Capital
Partners (#1)
Series C+
CPP Investment Board (#2), Aisling Capital (#1), CAVU Venture
Partners (#1)
Incubators Brand Capital (#3), 500 Startups (#2), SOSV (#2)
Other Notable
Investors
North Castle Partners (#8), Department of Biotechnology (#6),
CircleUp (#4)
Debt Investors TPG (#3), Enterprise Ventures (#2), Siparex (#2)
Most Active InvestorsRecent Investments
313
351
427 448
302
72
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded 48 50 71 81 71 46
$2.7B
$180M
$159M
$124M
$80M
US
Europe
South
Korea
India
Nigeria
$ Funding
$654M
$190M $127M
$307M $367M
$540M
$1.4B
55
2013 2014 2015 2016 2017 2018*
$ Funding $ Funding Predicted
# Rounds # Rounds Predicted

Summary of exit outlook in Nutraceuticals
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Enterprise Ventures 3
Science In Sport (1992, Manly)
OptiBiotix Health (2012, York)
North Castle
Partners
2
EAS sports nutrition (1992, Monterey)
Leiner (1996, Carson)
Steelpoint Capital
Partners
2
TA Associates
Management
2
Natrol (1980, Chatsworth)
Premier Nutrition (1997, San Francisco)
Afternic 1
Radient Technologies (2001, Edmonton,
$2.6M)
May 2018 Frutarom Acq by IFF Inc. for $7.1B
Dec 2017 Atrium Innovations Acq by Nestlé for $2.3B
Feb 2017 Mead johnson Acq by Reckitt Benckiser for $17.9B
Nov 2016
BAI Brands Acq by Dr Pepper Snapple Group for
$1.7B
Jul 2013 Elan Acq by Perrigo for $8.6B
Nov 2012 Schiff Nutrition Acq by Reckitt Benckiser for $1.4B
Nutraceuticals > Feed Summary > Exit Outlook Summary
Abbott 2
EAS sports nutrition (Oct 2004, $320M), ZonePerfect (Jul
2003, $160M)
POST HOLDINGS 2
Joint Juice (Aug 2013, $180M), Premier Nutrition (Aug 2013,
$180M)
Reckitt
Benckiser
3
Mead johnson (Feb 2017, $17.9B), Schiff Nutrition (Nov 2012,
$1.4B), Schiff Vitamins (Nov 2012)
Glanbia 3
Optimum Nutrition (Aug 2008, $315M), ThinkThin
products (Nov 2015, $217M), Amazing Grass (Jan 2017)
Balchem 2
SensoryEffects (Mar 2014, $567M), Albion Laboratories (Feb
2016, $112M)
Recent IPOs Top Acquisitions
Advanced Enzyme Technologies
Aug 2016
Manufactures enzymes for nutrition, food…
IPO MCap: $300M Current MCap: $265M
Bajaj Health May 2016
Manufacturer and supplier of Supplements,…
IPO MCap: $17.6M Current MCap: $44.8M
Fredun Group Mar 2016
Pharma group with multiple subsidiaries w…
IPO MCap: - Current MCap: $16.4M
Rapid Nutrition Mar 2017
Manufactures and exports nutritional prod…
IPO MCap: - Current MCap: -
Arev Nutrition Feb 2017
Manufactures coconut based health drink p…
IPO MCap: - Current MCap: -
HL Science Oct 2016
Manufactures health supplements
IPO MCap: $121M Current MCap: $180M

FACTSHEET
Marketmap: Nutraceuticals
FOODS
PROBIOTICS & PREBIOTICS*
MEDICAL FOODS*
MEAL REPLACEMENT
HEALTH SNACK
MULTI-CATEGORY
ENERGY DRINK
SPORTS DRINK
FORTIFIED JUICE
PROBIOTIC DRINK
FUNCTIONAL BEVERAGESNUTRACEUTICAL INGREDIENTS
DIVERSIFIED
MULTI-CATEGORY
HERBAL SUPPLEMENTS
PLANT EXTRACTS & PHYTO-CHEM.
VITAMINS
MINERALS
SUPPLEMENTS
PROTEIN SUPPLEMENTS
ALGAL EXTRACTS
CONTRACT MANUFACTURING
Overview
Companies 4652
Funded 653 Series A+ 194
Funding $5.3B Last 2 yrs $1.2B
Most Active Investors
Seed AccelFoods (3)
Series A/B AccelFoods (2)
Series C+ CPP Investment Board (2)
Others North Castle Partners (8)
Incubators Brand Capital (3)
Top Cities
Bay Area 110 Cos $435M
Beverly Hills 10 Cos $335M
Feed in Numbers
Unicorns 3 Soonicorns 5
Minicorns 13 Editor Picks 71
Acquihired - Deadpooled 190
Top Companies
Lonza (1897, Basel)
Frutarom (1933, Haifa)
Ingredion (1906, Chicago)
Exits
IPOs 116 Advanced Enzyme
Technologies, HL Science
Acquisitions 178 Mead Johnson, Elan
Top Acquirers Reckitt Benckiser, Glanbia
For any Feedback and Query reach out to MyAnalyst@tracxn.com
* Upcoming Business Model
Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
7
Nutraceuticals > Feed Summary > BlueBox

Key Sub Sectors in Nutraceuticals Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Supplements >
Multicategory 1431 $303M 26
Supplements > Herbal Supplements >
Plant Extracts and Phyto-chemicals 679 $69.4M 12
Nutraceutical Ingredients
214 $123M 7
Diversified
287 $56.5M 9
Supplements >
Others 260 $52.4M 7
Foods >
Health Snack 166 $19.9M 10
Functional Beverages >
Sports Drink 33 $308M 3
Functional Beverages >
Probiotic Drink 24 $34.1M 4
Foods > Functional Foods >
Probiotics 76 $11.7M 6
Contract Manufacturing
224 $25M 4
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Supplements
Companies that develop ingestible products that
contain a dietary ingredient intended...
3175 314 $3.4B
Functional Beverages
Companies that develop health drinks which include
ingredients like herbs, vitamins,...
260 75 $1.1B
Companies manufacturing raw materials used for
manufacturing nutraceutical products
214 64 $276M
Foods
Companies manufacturing healthy snacks and foods
492 110 $267M
Diversified
Companies that manufacture more than one type of
nutritional product
287 51 $161M
Companies providing contract manufacturing services
for finished nutraceutical products
224 39 $88.6M
Nutraceuticals > Feed Summary > Summary of Key Markets

List of Notable Companies in Nutraceuticals
Notable Companies in the Sector (1/4)
9
Note: *(Founded Year, Location, Total Funding)
Nutraceuticals > Feed Summary > Notable Companies in the Sector
Public
Herbalife
(1980, Los Angeles)*
GNC
(1935, Pittsburgh)
Mega LifeSciences
(1982, Bangkok)
Advanced Enzyme
Technologies
(1989, Thane, $18.3M)
Weider Global Nutrition
(1936, Gilbert)
HL Science
(2000, Uiwang)
Venture Life
(2010, Bracknell)
Kyung Nam Pharm
(1993, Changwon, $1.8B)
Cell Biotech
(1995, Gimpo-si)
Medlab
(2012, Sydney)
Public
Bioxyne
(1997, Sydney)
Bajaj Health
(1993, Mumbai)
Science In Sport
(1992, Manly)
Clover Corporation
(1988, Melbourne)
Kolmar BNH
(2004, Sejong)
Pochiraju Industries
(1995, Krishnagiri)
OptiBiotix Health
(2012, York)
Ganga Pharmaceuticals
(1989, Mumbai)
Vita Lifesciences
(1947, Melbourne)
TherapeuticsMD
(2008, Boca Raton, $186M)
Public
Plandai Biotech
(2004, Goodyear, $15.3M)
Algae Tec
(2007, Subiaco, $14.8M)
Mix1 Life
(2006, Orlando, $12.2M)
True Drinks
(2008, Irvine, $11.8M)
Cyanotech
(1983, Kailua-kona, $3.6M)
ChromaDex
(1999, Irvine, $3.4M)
Nutrafuels
(2009, Coconut Creek, $3.2M)
Radient Technologies
(2001, Edmonton, $2.6M)
Zivo Bioscience
(2014, Keego Harbor, $2M)
Entia Biosciences
(2007, Sherwood, $1.5M)
Public
Targeted Medical
Pharma
(1999, Los Angeles, $1.2M)
Pacific Health Labs
(1998, Iselin, $1M)
Therapeutic Solutions
International (TSI)
(2010, Oceanside, $270k)
Game Plan
(1999, Henderson, $263k)
MusclePharm
(2006, Denver, $245k)
Emergent Health
(2006, King Of Prussia, $240k)
Burcon
(1998, Vancouver, $164k)
GeneLink BioSciences
(1994, Orlando, $105k)
Lonza
(1897, Basel)
Public
Ajinomoto
(1909, Tokyo)
AXIM Biotech
(2014, New York City)
Ingredion
(1906, Chicago)
Natto Pharma
(2004, Oslo)
Arev Nutrition
(2016, Vancouver)
Blackmores
(1932, Sydney)
Canadian Bioceutical
(2014, Toronto)
Dabur India
(1884, Ghaziabad)
Eqology
(1998, Oslo)
ForeverGreen
(2004, Saint George)

10
Public
Go Life International
(2011, Knysna)
MusclePharm
Corporation
(2006, Denver)
NHTC
(1988, Los Angeles)
Olmix
(1995, Brehand)
Oragenics
(1996, Tampa)
Pharmanutra
(2003, Pisa)
Probi
(1991, Lund)
Taxus Cardium
(2003, San Diego)
Zinzino
(2005, Gothenburg)
Adia Nutrition
(2011, Kurtistown)
Public
Aroma Celte
(2011, Ploufragan)
Bactolac
Pharmaceutical
(1995, New York City)
Balchem
(1967, New Hampton)
BioGaia
(1990, Stockholm)
Celsius
(2004, Boca Raton)
Coenzyme-A
Technologies
(1998, Lynnwood)
Drinkeq
(2006, Las Vegas)
Euglena
(2005, Tokyo)
Gelstat
(2002, Hunt Valley)
Public
GenMont
(2000, Tainan)
Immune Tree
(1993, Bluffdale)
Immunotec
(1996, Vaudreuil-dorion)
ISatori
(2001, Denver)
Jurak World Wide
(1997, Las Vegas)
Kimia Farma
(1817, Jakarta)
Kino Biotech
(2010, Singapore)
Kwangdong
Pharmaceutical
(1963, Seoul)
Murad Chia Jei
Biotechnology
(1995, Kaohsiung City)
Public
MYOS RENS Technology
(2011, Cedar Knolls)
Naprodis
(1999, Poway)
Natural Alternatives
International
(1980, San Marcos)
Nature's Sunshine
(1972, Lehi)
Neurogenesis
(1984, League City)
New Earth
(2013, Klamath Falls)
Optigenex
(2002, Melissa)
Piramal Phytocare
(2001, Mumbai)
Pivotal Therapeutics
(2010, Vaughan)
Promisia
(1983, Wellington)
Public
ProPhase Labs
(1989, Doylestown)
Provexis
(1999, Reading)
Rapid Nutrition
(2001, Coorparoo)
Reliv International
(1988, Chesterfield)
Sankyo
(1963, Fuji)
Source Natural
(1995, Bangalore)
Synergy CHC
(2012, Westbrook)
Taiwan Indigena
Botanica
(2014, Taipei)
Tsumura
(1893, Torrance)
USANA Health Sciences
(1992, Salt Lake City)

11
Public
Vitality
(1946, Vancouver)
Vivanza Biosciences
(2016, Ahmedabad)
Zurvita
(2008, Houston)
Ceapro
(1997, Edmonton)
Glanbia
(1960, Kilkenny)
Lightspace Corporation
(2003, Boston)
Nutripure Beverages
(1966, Newport Beach)
Star Combo
(2004, Sydney)
Comvita
(1974, Tauranga)
Diabion
(2011, Mixco)
Public
Enterologics
(2009, Saint Paul)
E-Pharm Nutrition
(2011, Urbana)
Fredun Group
(1987, Mumbai)
Lactose India
(1991, Ahmedabad)
Maabarot Group
(1963, Kibbutz Gaton)
Naturade
(1926, Irvine)
Neptune Wellness
Solutions
(1998, Laval)
New Nordic
(1990, Roskilde)
Roopa Industries
(2000, Hyderabad)
Acquired
Mead johnson
(1900, Chicago)
Elan
(1969, Dublin)
Frutarom
(1933, Haifa)
The DuPont Nutrition
and Health
(1989, Copenhagen)
Atrium Innovations
(1999, Westmount)
BAI Brands
(2009, Princeton, $56.8M)
Schiff Nutrition
(1936, Parsippany)
Chr. Hansen
(2010, Copenhagen)
Pharmachem
Labratories
(1979, Kearny)
Acquired
Fortitech Premixes
(1986, Schenectady)
RXBAR
(2012, Chicago)
SensoryEffects
(2006, Maryland Heights)
Vega
(2001, Burnaby)
Omega Protein
(1913, Houston)
Vemedia
(1961, Diemen)
Elder Pharamaceuticals
(1989, Mumbai)
EAS sports nutrition
(1992, Monterey)
Optimum Nutrition
(1986, Sidney)
InterHealth
Nutraceuticals
(1987, Benicia)
Acquired
Renew Life
(1997, Palm Harbor)
MaxiNutrition
(1991, Brentford)
Protexin
(1992, Somerset)
Vitaco
(2007, Sydney)
Leiner
(1996, Carson)
ThinkThin products
(1999, Los Angeles)
Enzymotec
(1998, Kfar Saba, $21M)
New Zealand
Pharmaceuticals
(1971, Palmerston North)
Eu Yan Sang
(1879, Singapore)
Scitec Nutrition
(1996, Budapest)

12
Acquired
Nutrition Physiology
Company
(1993, Guymon)
Joint Juice
(2001, San Francisco, $155M)
Premier Nutrition
(1997, San Francisco)
BBI Healthcare
(2006, Bridgend)
ZonePerfect
(1996, Beverly)
Manuka Health
(2006, Auckland)
Natrol
(1980, Chatsworth)
Novel Ingredient
(1995, East Hanover)
Albion Laboratories
(1956, Clearfield)
Seroyal
(2009, Pittsburgh)
Acquired
Nutraceutix
(2016, Redmond)

List of Notable Companies by Market in Nutraceuticals
Notable Companies by Market (1/15)
14
Nutraceuticals > Feed Summary > Notable Companies by Market
Enzymotec (1998, Kfar Saba, $21M)
Bio-functional lipid ingredients and final products
for nutritional and pharmaceutical application
Minicorn. Stage: Acquired
Frutarom, Ofer-Hi Tech, Millennium II Materials
Technology Fund and 7 Other Investors
Advanced Enzyme Technologies (1989,
Thane, $18.3M)
Manufactures enzymes for nutrition, food
processing and industrial processing
Soonicorn. Stage: Public
Avendus, Deutsche Bank, Kuwait Investment
Authority and 5 Other Investors
ChromaDex (1999, Irvine, $3.4M)
Discover and develop patented ingredient
technologies
Editor's Pick. Stage: Public
Western Alliance Bancorporation, Hercules Capital,
DSM and 1 Other Investors
$2.6M)
Develops and markets high-value naturally derived
plant extracts
Aurora Cannabis, Koniag Development
Corporation, Afternic and 2 Other Investors
Traditional company manufacturing flavor and fine
ingredients
Unicorn. Stage: Acquired
Bank Leumi
Lonza (1897, Basel)
Company offering a suite of CDMO services to
pharma, biotech and specialty ingredient markets
United States Department of Defense, EDBI
Food ingredients manufacturer
Unicorn. Stage: Public
Natto Pharma (2004, Oslo)
Manufactures patented vitamin k2 ingredient
New Zealand Pharmaceuticals (1971,
Palmerston North)
Manufacturer of pharma intermediates &
diagnostic products for pharma & biotech
companies
Stage: Acquired
Direct Capital
Discovers and develops microbial strains,
compounds, and formulations, which modulate the
human microbiome
Stage: Public
Seneca Partners, Enterprise Ventures
Albion Laboratories (1956, Clearfield)
Manufactures mineral ingredients for plant and
human nutrition industry
Stage: Acquired

15
Balchem (1967, New Hampton)
Manufactures nutraceutical ingredients for human
and animal nutrition products
Stage: Public
Clover Corporation (1988, Melbourne)
Manufactures a range of nutraceutical ingredients
Stage: Public
Equip Super
Fortitech Premixes (1986, Schenectady)
Manufactures customized blends of functional
ingredients
Stage: Acquired
Lehman Brothers, Trilantic Capital Partners North
America
InterHealth Nutraceuticals (1987, Benicia)
Researching, developing and supplying
nutraceutical and speciality ingredients.
Stage: Acquired
National Institutes of Health, Kainos Capital
MYOS RENS Technology (2011, Cedar Knolls)
Nutritional supplements, functional foods, and
therapeutic products
Stage: Public
Omega Protein (1913, Houston)
Biopharma company manufacturing and marketing
nutritional products
Stage: Acquired
Optigenex (2002, Melissa)
Manufactures patented natural cellular DNA care
ingredients
Stage: Public
Pharmachem Labratories (1979, Kearny)
Nutraceutical ingredients manufacturer
Stage: Acquired
The DuPont Nutrition and Health (1989,
Copenhagen)
Manufactures a range of health ingredients
Stage: Acquired
SensoryEffects (2006, Maryland Heights)
Ingredient solutions for human health and nutrition
Stage: Acquired
Highlander Partners
Bajaj Health (1993, Mumbai)
Manufacturer and supplier of Supplements, APIs &
Intermediates and formulations
Stage: Public
Neptune Wellness Solutions (1998, Laval)
Nutraceutical ingredients manufacturer
Stage: Public
Novel Ingredient (1995, East Hanover)
Manufacturing and marketing a range of
nutraceutical ingredients
Stage: Acquired
GenNx360 Capital Partners, Maranon Capital

16
Supplements
Multicategory
Kyung Nam Pharm (1993, Changwon, $1.8B)
Manufacture and sale of OTC drugs and nutritionals
in Korea
Stage: Public
E&Investment, Korea Investment Partners
MMUSA (1995, Blaine, $284M)
Manufactures a range of nutritional supplement
products
Soonicorn. Stage: Funded
Nutrafuels (2009, Coconut Creek, $3.2M)
Manufacturing and marketing oral spray vitamins
and supplements
Stage: Public
Entia Biosciences (2007, Sherwood, $1.5M)
Develops and markets health-related nutraceuticals
and cosmeceuticals
Stage: Public
Therapeutic Solutions International
(TSI) (2010, Oceanside, $270k)
Developing and commercialising nutraceuticals
Stage: Public
Multicategory
Game Plan (1999, Henderson, $263k)
Nutritional supplements manufacturer and
distributor.
Stage: Public
MusclePharm (2006, Denver, $245k)
Manufacturing and marketing a range of nutritional
supplements
Stage: Public
Iconic Private Equity Partners
Emergent Health (2006, King Of Prussia,
$240k)
Engages in development and sale of proprietary
regenerative medicine, nutraceuticals and
phytonutritionals
Stage: Public
GeneLink BioSciences (1994, Orlando, $105k)
Genome-based nutritional supplements
Stage: Public
Multicategory
Canadian Bioceutical (2014, Toronto)
nutraceuticals and bioceuticals
Stage: Public
CGX Life Sciences, Canadian Bioceutical
Elan (1969, Dublin)
Manufacturer of OTC products, prescription
pharmaceuticals, nutritional products, and APIs
Stage: Acquired
Signet Healthcare Partners
GNC (1935, Pittsburgh)
Supplements for sports nutrition
Stage: Public
Thomas H Lee Partners
Go Life International (2011, Knysna)
Manufactures a range of health supplements
Stage: Public
Herbalife (1980, Los Angeles)
Manufacturer of nutritional supplements
Stage: Public

17
Supplements
Multicategory
MusclePharm Corporation (2006, Denver)
Manufactures a range of nutritional supplements
Stage: Public
NHTC (1988, Los Angeles)
Herbal dietary supplements
Stage: Public
Pharmanutra (2003, Pisa)
Stage: Public
Protexin (1992, Somerset)
Probiotics and fiber supplements
Stage: Acquired
Vita Lifesciences (1947, Melbourne)
Stage: Public
Aroma Celte (2011, Ploufragan)
Manufactures health supplements and personal
care products
Stage: Public
Multicategory
Atrium Innovations (1999, Westmount)
Traditional company manufacturing and marketing
nutritional health supplements
Stage: Acquired
CPP Investment Board
Coenzyme-A Technologies (1998,
Lynnwood)
Manufactures a range of health supplement
products
Stage: Public
Performance Nutrition Products & Protein
Supplements
Stage: Acquired
Steelpoint Capital Partners, North Castle Partners
Elder Pharamaceuticals (1989, Mumbai)
Fully Integrated Pharma Company
Stage: Acquired
Multicategory
Gelstat (2002, Hunt Valley)
Research, development and marketing of a range of
health supplements
Stage: Public
HL Science (2000, Uiwang)
Stage: Public
Immunotec (1996, Vaudreuil-dorion)
Manufactures nutritional supplements and skin
care products
Stage: Public
Nexxus Capital
Kimia Farma (1817, Jakarta)
Manufactures generic pharmaceuticals and
nutritional supplements
Stage: Public
Mead johnson (1900, Chicago)
Nutraceutical company manufacturing infant
nutrition products
Stage: Acquired

18
Supplements
Multicategory
Mega LifeSciences (1982, Bangkok)
Traditional company engaged in manufacturing
nutritional & herbal supplements, OTC and ethical
products
Stage: Public
Lombard Investments
Natrol (1980, Chatsworth)
supplements
Stage: Acquired
TA Associates Management
Natural Alternatives International (1980,
San Marcos)
Formulator, manufacturer and marketer of
customized nutritional supplements
Stage: Public
Neurogenesis (1984, League City)
Stage: Public
Multicategory
Pochiraju Industries (1995, Krishnagiri)
Indian Pharma and Biotech Manufacturer
Stage: Public
B I R A
Reliv International (1988, Chesterfield)
supplements
Stage: Public
USANA Health Sciences (1992, Salt Lake City)
Personalized cellular nutrition
Stage: Public
Vitality (1946, Vancouver)
Manufacturing and marketing a range of vitamin
and mineral supplements
Stage: Public
Vivanza Biosciences (2016, Ahmedabad)
Manufactures generic pharmacutical formulations
and nutritional supplements
Stage: Public
Multicategory
Zurvita (2008, Houston)
Manufactures branded health supplements
Stage: Public
BBI Healthcare (2006, Bridgend)
Manufactures women's health, digestive health,
energy and heart health products
Stage: Acquired
E-Pharm Nutrition (2011, Urbana)
Traditional company engaged in manufacturing and
marketing nutritional supplements
Stage: Public
Specializes in storebrand OTC products, vitamins
and nutritional supplements
Stage: Acquired
Steelpoint Capital Partners, North Castle Partners,
AEA Investors

19
Supplements
Multicategory
Maabarot Group (1963, Kibbutz Gaton)
Manufactures a range of food products and
nutritional supplements for human and animal
consumption
Stage: Public
New Nordic (1990, Roskilde)
Develops and markets dietary supplements and
natural medicines
Stage: Public
Roopa Industries (2000, Hyderabad)
Traditional company manufacturing nutraceuticals,
bulk drugs and chemicals
Stage: Public
Schiff Nutrition (1936, Parsippany)
Schiff Nutrition is a nutritional supplement
company which offers specialty supplements,
vitamins, and minerals.
Stage: Acquired
TPG
Multicategory
Vemedia (1961, Diemen)
Manufacturing and marketing branded nutritional
supplements
Stage: Acquired
IK Investment Partners, Indufin Capital Partners
Venture Life (2010, Bracknell)
Company focused on developing, manufacturing
and commercialising products for the ageing
population
Stage: Public
Vitamins
TherapeuticsMD (2008, Boca Raton, $186M)
Health drugs for women
Stage: Public
MidCap Financial, Venrock

20
Supplements
Herbal Supplements
Plandai Biotech (2004, Goodyear, $15.3M)
Developing bioavailable extracts from live plant
materials for use in nutraceuticals
Lincoln Park Capital
Algae Tec (2007, Subiaco, $14.8M)
Manufacturer of algae using carbon capture and
production of algae-based products
Gencor, Reliance Industries
Cyanotech (1983, Kailua-kona, $3.6M)
Manufactures natural ingredients based health
supplements
Stage: Public
Zivo Bioscience (2014, Keego Harbor, $2M)
Bioactive compounds from algal strain
Health Enterprise Partners
Herbal Supplements
Blackmores (1932, Sydney)
Health products for humans and animals, including
vitamins, herbal and mineral nutritional
supplements.
Stage: Public
Dabur India (1884, Ghaziabad)
Manufactures and Markets FMCG Goods
Stage: Public
Baring Private Equity Partners
Olmix (1995, Brehand)
Developing and marketing algal extracts for use in
plant, animal and human health products
Stage: Public
Idinvest Partners
Eu Yan Sang (1879, Singapore)
Chinese medicine and herbs brand
Stage: Acquired
Herbal Supplements
Euglena (2005, Tokyo)
Developing and marketing microalgae for use in
functional foods
Stage: Public
SBI Investment, Inspire Corporation, Hikari Private
Equity
Immune Tree (1993, Bluffdale)
Manufactures a range of health supplement
products
Stage: Public
Jurak World Wide (1997, Las Vegas)
tonic
Stage: Public
Kwangdong Pharmaceutical (1963, Seoul)
Combining oriental and western medical science
across a range of indications.
Stage: Public

21
Supplements
Herbal Supplements
Manuka Health (2006, Auckland)
Manufacturing and marketing natural ingredients
based health supplements
Stage: Acquired
Callaghan Innovation, Waterman Capital, Pacific
Equity Partners
Murad Chia Jei Biotechnology (1995,
Kaohsiung City)
Preventive health related herbal nutraceutical
products
Stage: Public
Naprodis (1999, Poway)
Natural supplements for skin care and immunity
boost
Stage: Public
Nature's Sunshine (1972, Lehi)
health and wellness products
Stage: Public
Herbal Supplements
Piramal Phytocare (2001, Mumbai)
Manufactures a range of natural ingredients based
health supplements
Stage: Public
Promisia (1983, Wellington)
Manufactures natural ingredients based dietary
supplement for joint support
Stage: Public
Provexis (1999, Reading)
Specialty company commercializaing proprietary
anti-thrombotic technology
Stage: Public
DSM, Enterprise Ventures
Taiwan Indigena Botanica (2014, Taipei)
Herbal supplements for medicinal use
Stage: Public
Tsumura (1893, Torrance)
Large Japanese manufacturer of herbal (Kampo)
medicines and OTC drugs
Stage: Public
Herbal Supplements
Ganga Pharmaceuticals (1989, Mumbai)
supplements
Stage: Public
Comvita (1974, Tauranga)
Natural skin care supplements
Stage: Public
Fredun Group (1987, Mumbai)
Pharma group with multiple subsidiaries with focus
on generics, herbal products and APIs
Stage: Public
Naturade (1926, Irvine)
Manufacturing and marketing a range of natural
ingredients based nutritional supplements
Stage: Public
Redux Holdings, Towerview Capital, Thyra Global
Management and 1 Other Investors

22
Supplements
Protein Supplements
Mix1 Life (2006, Orlando, $12.2M)
Manufacturing and marketing protein shakes
Stage: Public
Highland Capital Partners
Pacific Health Labs (1998, Iselin, $1M)
sports nutrition products
Stage: Public
Hormel Health Labs
Manufactures and markets sports nutrition
products
Enterprise Ventures, Array Venture Capital
MaxiNutrition (1991, Brentford)
Sports nutrition company specializing in protein
supplements
Stage: Acquired
Darwin Private Equity
Protein Supplements
ISatori (2001, Denver)
Manufactures sports nutrition supplements
Stage: Public
Optimum Nutrition (1986, Sidney)
Manufacturing and marketing sports nutrition
products
Stage: Acquired
Premier Nutrition (1997, San Francisco)
Manufactures protein powder and bars
Stage: Acquired
TA Associates Management
Weider Global Nutrition (1936, Gilbert)
Developing and marketing sports nutrition
products
Stage: Public
Others
$93.7M)
Human milk fortifier supplement products for
premature infants
Soonicorn. Stage: Series D
PROOF.VC, Aisling Capital, Health Evolution
Partners and 12 Other Investors
Eqology (1998, Oslo)
Manufactures omega 3 supplements
Stage: Public
New Earth (2013, Klamath Falls)
Developing and marketing proprietary food and
health supplements
Stage: Public
Synergy CHC (2012, Westbrook)
Manufactures a range of health supplements and
personal care products
Stage: Public
Knight Therapeutics

23
Supplements
Others
Ceapro (1997, Edmonton)
Production of active ingredients using plants as a
feedstock for human and animal consumption
Stage: Public
GCCIR, AVAC Group
Lightspace Corporation (2003, Boston)
Provider of herbal formulation for males
Stage: Public
Star Combo (2004, Sydney)
Dietary supplements for improving strength and
focus
Stage: Public
Diabion (2011, Mixco)
Manufacturing and marketing proprietary diabetes
management formula
Stage: Public
Foods
Functional Foods
Chr. Hansen (2010, Copenhagen)
Bioscience company that develops natural solutions
for the food, nutritional, pharmaceutical and
agricultural industries.
Stage: Acquired
European Investment Bank, Ardian, PAI Partners
Oragenics (1996, Tampa)
Develops novel treatments for infectious diseases
and oral mucositis as well as probiotics for oral
health
Stage: Public
Intrexon, Third Security
Taxus Cardium (2003, San Diego)
Dedicated to building on its core products and drug
delivery platform
Stage: Public
Connecticut Innovations
Zinzino (2005, Gothenburg)
Manufacturer providing personalized supplements
using Omega6/Omega3 ratio.
Stage: Public
Functional Foods
Adia Nutrition (2011, Kurtistown)
Manufactures and markets probiotic chews and
drinks
Stage: Public
BioGaia (1990, Stockholm)
Healthcare company that develops and sells
probiotic nutraceutical products with proven health
benefits
Stage: Public
Centrecourt
Cell Biotech (1995, Gimpo-si)
Manufacturer of probiotic products
Stage: Public
KTB Ventures, SBI Investment Korea
GenMont (2000, Tainan)
Manufacturer of probiotic and baby nutrition
supplements
Stage: Public

24
Foods
Functional Foods
Nutraceutix (2016, Redmond)
Contract manufacturing organization offering
probiotics to functional food and consumer health
companies
Stage: Acquired
Pivotal Therapeutics (2010, Vaughan)
Canadian, commercial-stage biopharma developing
highly-purified prescription Omega 3 Therapy for
CVD
Stage: Public
Renew Life (1997, Palm Harbor)
a range of nutraceutical products
Stage: Acquired
Swander Pace Capital, Twin Bridge Capital Partners
Bioxyne (1997, Sydney)
Developing probiotic-based dietary supplements
for immune health and immunotherapy
Stage: Public
BioScience Managers
Functional Foods
Enterologics (2009, Saint Paul)
Developing probiotics as live biotherapeutics to
treat gastrointestinal (GI) diseases.
Stage: Public
Nutrition Physiology Company (1993,
Guymon)
Specialty company engaged in manufacturing
probiotics for animals
Stage: Acquired
Medical Foods
Targeted Medical Pharma (1999, Los
Angeles, $1.2M)
Aminoacid-based medical foods for CNS,
inflammation, metabolic and respiratory disorders
Stage: Public

25
Foods
Health Snack
ThinkThin products (1999, Los Angeles)
Manufactures a range of protein bars and smoothies
Stage: Acquired
ZonePerfect (1996, Beverly)
Manufactures a range of flavored protein bars
Stage: Acquired
RXBAR (2012, Chicago)
Meal replacement protein bars
Stage: Acquired
Energy Drink
Celsius (2004, Boca Raton)
Functional beverage company manufacturing
energy drinks
Stage: Public
Horizons Ventures, zVentures
Drinkeq (2006, Las Vegas)
Nutritional energy drinks manufacturer
Stage: Public
Fortified Juice
Suja Life (2012, San Diego, $208M)
Manufacturer and brand of cold pressed juices and
smoothies
Soonicorn. Stage: Series E
Coca-Cola, Goldman Sachs, Participant Media and 7
Other Investors
Joint Juice (2001, San Francisco, $155M)
Liquid supplement for joint health
BAI Brands (2009, Princeton, $56.8M)
Manufactures and markets flavoured antioxidant
drinks
Stroud Companies, Dr Pepper Snapple Group,
Strand Equity Partners and 2 Other Investors
Burcon (1998, Vancouver, $164k)
Manufactures plant protein based health drinks
Stage: Public

26
Fortified Juice
Arev Nutrition (2016, Vancouver)
Manufactures coconut based health drink products
Stage: Public
Nutripure Beverages (1966, Newport Beach)
Fortified water for immunity and general wellness
Stage: Public
Multicategory
FRS (2004, San Mateo, $148M)
Nutraceutical company manufacturing functional
beverages for sportspersons
Soonicorn. Stage: Series D
Oak Investment Partners
True Drinks (2008, Irvine, $11.8M)
Manufactures flavored water and energy drink
products
Stage: Public
Toba Capital
Kino Biotech (2010, Singapore)
Bio-nutraceutical and cosmeceutical company
Stage: Public
Probi (1991, Lund)
Contract manufacturer of probiotic supplements
Stage: Public
Bactolac Pharmaceutical (1995, New York
City)
Contract manufacturer of a range of nutritional
supplements
Stage: Public
Kolmar BNH (2004, Sejong)
Offers nutrition supplements and cosmetics
Stage: Public
Quintessa Investments
Sankyo (1963, Fuji)
Contract manufacturer of pharmaceutical and
nutraceutical supplements
Stage: Public
Source Natural (1995, Bangalore)
Contract manufacturer of ayurvedic, health &
dietary supplements
Stage: Public

27
Vitaco (2007, Sydney)
Contract manufacturing of a range of nutritional
supplements
Stage: Acquired
Next Capital
Diversified
Diversified
Ajinomoto (1909, Tokyo)
Multi category food and beverage manufacturer
AXIM Biotech (2014, New York City)
Public, early-stage Biotech involved in
pharmaceutical, nutraceutical and bioenergy from
cannabis, most importantly, developing pharma-
functional chewing gum containing cannabinoids
Medical Marijuana
ForeverGreen (2004, Saint George)
products
Stage: Public
Medlab (2012, Sydney)
Company developing pharmaceuticals,
nutraceuticals and biologics for treating chronic
diseases
Stage: Public
Diversified
ProPhase Labs (1989, Doylestown)
ProPhase Labs
Stage: Public
Dutchess Capital
Rapid Nutrition (2001, Coorparoo)
Manufactures and exports nutritional products
Stage: Public
Scitec Nutrition (1996, Budapest)
nutraceutical products
Stage: Acquired
Enterprise Investors
Seroyal (2009, Pittsburgh)
Traditional company engaged in manufacturing
Stage: Acquired
ARCC

28
Diversified
Diversified
Vega (2001, Burnaby)
Manufactures branded nutritional snacks and
supplements
Stage: Acquired
VMG Partners
Glanbia (1960, Kilkenny)
Global performance nutrition and ingredients group
Stage: Public
Lactose India (1991, Ahmedabad)
Producing and providing nutraceutical ingredient &
APIs
Stage: Public

List of Notable Companies in Nutraceuticals in China
Notable Companies in the Sector in China
29
Nutraceuticals > Feed Summary > Notable Companies in the Sector in China
Public
China YCT International
Group
(1989, Jining)
CK Life Sciences
(2000, Hong Kong)
Quantum Hi-Tech
Biological
(2000, Guangzhou)
Rodobo International
(2002, Harbin)
Tasly Holding Group
(1994, Tianjin)
Xiangxue
Pharmaceutical
(1997, Guangzhou)
Yunnan Beiyao Group
(1902, Kunming)
Guizhou Xinbang
Pharmaceutical
(1995, Guiyang)
Public
Kingdomway
(1997, Xiamen)
Baolingbao Biology
(1997, Dezhou)
Guilin Layn Natural
Ingredients Corp
(2003, Guangxi)
Hainan Hai
(1965, Haikou)
Eagle Health Holdings
(2001, Xiamen)
Acquired
Zhejiang Novus
Pharmaceuticals
(2015, Shaoxing)

Recent News in Nutraceuticals Sector
Recent News
30
Oct 2018 CELSIUS Names Matt Kahn as EVP Marketing, PR Newswire
Oct 2018
Grounded in Goodness, Healthy Times Pays Tribute to Legacy with
New Packaging, PR Newswire
Oct 2018
U.S. nutramax laboratories plans $20 mln expansion to create jobs,
investsize.com
Oct 2018 The message for the Horlicks maker in the Complan deal, Livemint
Oct 2018
Red Bull's Rampage freeride app puts a virtual mountain in your
living room, TechRadar
Oct 2018
Compound Solutions Aggressively Pursues Patent Violators of its
goBHB® ketone, PRWeb
Oct 2018
Ingredion Announces Preliminary Third Quarter 2018 EPS and
Adjusted EPS and Revises Adjusted EPS Guidance; Board Authorizes
Repurchase of up to an Additional 8 Million Shares of Stock, ACN
Newswire
Oct 2018
Optimum Nutrition Introduces Gold Standard 100% Isolate™,
Created For The Macro-Conscious Athlete, PR Newswire
Oct 2018
Nutrex Announces IsoFit, a Premium Dessert Isolate that Ignites
Muscle Protein Synthesis, PRWeb
Oct 2018
Carotenoids Market Will Cross USD 300 Million By 2024, The
Camping Canuck
Oct 2018
Plant-based Waters Market In-depth Analysis & Global Forecast To
2024, The Camping Canuck
Oct 2018 Current And Future Trends Of Polyphenols Market, truthweek.com
Key Recent News Key Recent News
Oct 2018
Crystal Clear Forecast Of The Global Probiotic Supplements
Industry, truthweek.com
Oct 2018 Sido Muncul targets 20% growth next year, IDN Financials
Oct 2018
Global Thymidine Market 2018-2025 includes Worldwide
Manufacturers: Lonza, Carbopharm GmbH, Zhejiang NHU, Zhejiang
Xianfeng Science Technology, truthweek.com
Oct 2018
Bluebonnet Targeted Choice Joint Support Formula Utilizes BioCell
Collagen, Nutraceuticals World
Oct 2018
Kraft Heinz to sell part of Indian businesses to drugmaker Zydus:
Bloomberg, Reuters
Oct 2018
ProcessPro ERP Selected by Quicksilver Scientific to Support
Supplement Manufacturing, PR Newswire
Oct 2018
HumanN Launches SuperBeets Line Based on Best-Selling Product,
PR Newswire
Oct 2018
All-Star Outfielder Andy Van Slyke Teams Up with NUGENIX® to
Defeat Low Vitality, PR Newswire
Oct 2018
Fidia Announces Presentation of New Data Evaluating HYMOVIS®
(HYADD®4) Effects on Metalloprotease Inhibition at 2018
ACR/ARHP Annual Meeting, Business Wire
Oct 2018
USANA Health Sciences Reports Results for Third Quarter 2018;
Updates 2018 Outlook; Board Increases Share Repurchase
Authorization, Business Wire
Oct 2018
FutureCeuticals Launches New Product - S7: Boosts NO by 230%, PR
Newswire
Nutraceuticals > Feed Summary > Recent News

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
31
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
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Sep 2018
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Investments ($M) and number of rounds in Nutraceuticals; 2011-2018
Global Funding Trends (1/2)
33
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Nutraceuticals > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 12% # of Rounds22% $ Funding
9% # of Rounds
62% $ Funding
$654M
$168M
$100M
$190M
$127M
$307M
$367M
$540M
$1.4B
0
10
20
30
40
50
60
70
80
90
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
$1.6B
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

$12M $3M $15M $12M $17M $20M $10M $14M
$44M
$73M $84M $70M
$117M
$194M $301M
$158M
$112M $25M $91M $45M $173M $152M $229M
$482M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
$168M
$654M
Total $ Invested
18 14 25 24 43 44 21 23
16 17
19
16
25 28
41
17
9 5 4 10 3 9 9 6
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
43
46
Total # of Rounds
34
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Nutraceuticals; 2011-2018
Nutraceuticals > Investment Trends > Global Funding Trends
36
23
23
35
39
31
19
206
$2.0M
$1.9M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
$3.5M
0
50
100
150
200
250
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
$2M $0.9M $1.8M $1M $1.7M $3.1M $2.4M $1.9M
$568M
$73M
$0K $108M $0K
$190M
$253M
$355M
$1.3B
7
0
1
2
3
4
5
6
7
8
9
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
1.4E+09
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
1 - 2 - 3 7 8 6

Nutraceuticals > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Nutraceuticals
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 435M 52
Beverly Hills 335M 4
Blaine 284M 1
San Diego 209M 12
Los Angeles 166M 29
Seoul 159M 1
Cottonwood 157M 1
Gilbert 123M 4
Lagos 80M 1
Aurora 74.7M 5
Total Funding
186
93
2
31
1
22
5
7
# Rounds
$2.7B
$180M
$159M
$124M
$80M
$31.9M
$23M
$9.5M
US
Europe
South Korea
India
Nigeria
Canada
Israel
Australia
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.8
$0.3
$0.7
$0.6 $0.5
$0.6 $0.6
2011 2012 2013 2014 2015 2016 2017
$3.8 $4.5
$3.4 $3.4
$4.3 $3.8
$6.1
$2.8
$9.2 $10.6 $9.2 $10.1
$18.1 $15.6
$15.9
$8.2
$30.4
$11.3
$57.5 $50.7
$38.2
Nutraceuticals > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Nutraceuticals; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$5K* $4.5M
$100K $20M
$1M $40.3M
$50K $300M
$13.3M
$11.3M
$3M
$367K
Series C+
Series B
Series A
Seed
Stage

Note: 444 companies with undisclosed funding amount are not included
37
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
68
100
50
5
10
No. of Companies
Nutraceuticals > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Nutraceuticals; as of Oct 2018
Distribution of companies by Funding Range
$22M
$342M
$1B
$376M
$3.5B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
14%
4%
2%
2%
38
Note: Numbers in the brackets show the count of companies
Time to raise
next round
72
109
194
653
4652
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
14% 3%
(160)
3%
(156)
- 4%
(190)
82%
(3809)
30% 17%
(112)
17%
(108)
- 4%
(29)
66%
(430)
56% 13%
(25)
11%
(21)
- 5%
(9)
39%
(76)
66% 17%
(19)
14%
(15)
- 4%
(4)
30%
(33)
- 19%
(14)
14%
(10)
- 4%
(3)
1%
(1)
Nutraceuticals > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Nutraceuticals
Funding Funnel
16 Months
18 Months
27 Months
Investment backedBootstrapped
5
3
106
78
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Nutraceuticals > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Nutraceuticals; Oct 2016-Oct 2018
Notable Investments in last 24 months (1/3)
LATE STAGE
$300M - Series C Aug 2018
Functional beverage company manufacturing sports
drink products with coconut water base
Coca-Cola
$159M - PE May 2018
BOTAMEDI GROUP (2001, Seoul, $159M)
Herbal products for neurodegenerative diseases
$157M - PE Jan 2017
products
$35M - PE Jan 2017
OmniActive (2004, Mumbai, $35M)
Supplying ingredients and technologies to the global
nutraceutical and functional food industry
Everstone Capital
LATE STAGE
$35M - Series D Dec 2016
$93.7M)
premature infants
Aisling Capital, Health Evolution Partners, EW
Healthcare Partners
$21.2M - PE Jan 2017
UAS Laboratories (1979, Wausau, $21.2M)
Contract manufacturing organization
$11.5M - Series E Nov 2017
Suja Life (2012, San Diego, $208M)
Manufacturer and brand of cold pressed juices and
smoothies
$9M - Series D May 2018
$93.7M)
premature infants
LATE STAGE
$3.3M - Series D May 2017
$93.7M)
premature infants
PROOF.VC

EARLY STAGE
$35M - Series B Sep 2017
Food processing technology platform for filtering
compounds
S2G Ventures, Bunge, Emerson Collective, Seventure
Partners, Middleland Capital, Tao Capital Partners,
Eighteen94 Capital, GreatPoint Ventures, Closed
Loop Capital, Continental Grain
$35M - Series B Mar 2017
Nutraceutical company commercializing products to
support immune health in infants and toddlers
Gurnet Point Capital
$30M - Series B Feb 2018
Harmless Harvest (2009, San Francisco, $30M)
Manufactures branded coconut water and coconut
water probiotics
Danone Manifesto Ventures, AccelFoods
EARLY STAGE
$29M - Series B Aug 2018
Monthly subscription box for a range of dietary
supplements
Goldman Sachs Investment Partners, Goodwater
Capital, RRE Ventures, Tusk Ventures, Juxtapose,
Beth Kaplan, David Katzman
$27.1M - Series B Jan 2018
Fitness food brand
Btov, Ringier AG, Fonterra
$26.1M - Series B Dec 2017
Aloha (2012, West Palm Beach, $70.9M)
A wellness company manufacturing vegan foods and
dietary supplements
$25.5M - Series B Nov 2017
Vital Proteins (2013, Elk Grove Village, $25.5M)
Manufactures collagen based health supplements
CAVU Venture Partners
EARLY STAGE
$23.5M - Series B Aug 2018
Food processing technology platform for filtering
compounds
$20M - Series B Dec 2016
Elysium Health (2014, Palo, $26.2M)
Develops and manufactures cellular health
supplement
General Catalyst Partners, Breyer Capital, Sound
Ventures, Morningside Ventures
$20M - Series A Dec 2017
Nuritas (2014, Dublin, $30M)
Discovery of natural active ingredients with
scientifically proven health benefits
Cultivian Sandbox
$12M - Series A Jun 2018
NextFoods (2006, Boulder, $36M)
Functional beverage company manufacturing
probiotic fortified juice
301, Emil Capital Partners

EARLY STAGE
$6.1M - Series A Oct 2016
supplement
$3.1M - Series A Sep 2017
Adeo Health Science (2017, Boston, $3.1M)
Manufactures proprietary baby food designed to
introduce 8 allergens

Most Active Investors (VC, PE) by Stage in Nutraceuticals; Last 5 years (Oct 2013-Oct 2018)
Most Active VC & PE Investors
42
Nutraceuticals > Investment Trends > Most Active VC & PE Investors
SEED STAGE
AccelFoods (3 Investments)
Fresh Bar, Native State Foods, Kalot Superfood
1
Forerunner Ventures(2 Investments)
Aloha, Ritual
2
Fireside Ventures
Yogabars
3
Upfront Ventures
Ritual
4
Rivet Ventures
Ritual
5
Norwest Venture Partners
Ritual
6
Highland Capital Partners
Aloha
7
BFG Partners
Good Day Chocolate
8
First Beverage Group
Health-Ade
9
KarpReilly
Lifeaid Beverage
10
EARLY STAGE
AccelFoods (2 Investments)
Harmless Harvest, Exo
1
CAVU Venture Partners (2 Investments)
Vital Proteins, Health-Ade
2
Seventure Partners
MycoTechnology
3
S2G Ventures
MycoTechnology
4
BFG Partners
Barnana
5
First Beverage Group
VitaCup
6
RRE Ventures
Care/of
7
Btov
Foodspring
8
Middleland Capital
MycoTechnology
9
Goodwater Capital
Care/of
10
LATE STAGE
CPP Investment Board (2 Investments)
Atrium Innovations, Cooper
1
Aisling Capital
Prolacta Bioscience
2
S2G Ventures
UCAN
3
CAVU Venture Partners
OhYeah! Nutrition
4
The Ecosystem Integrity Fund
KeVita
5
EW Healthcare Partners
Prolacta Bioscience
6
Unigrains
Nutrisens
7
Everstone Capital
OmniActive
8
Charterhouse Capital Partners
Cooper
9
Diana Capital
Megafood
10

Nutraceuticals > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Nutraceuticals; Last 5 years (Oct 2013-Oct 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Brand Capital(3 Investments)
Avesthagen, Lifezen, Genmedic
1
500 Startups(2 Investments)
Your Superfoods, The Fit Body
2
SOSV(2 Investments)
Protes, TruEnergy
3
Y Combinator(2 Investments)
Multiply Labs, Gainful
4
The Brandery
Gainful
5
Food-X
TruEnergy
6
LRM
VitalNext
7
Mercatus Capital
DIAllium
8
NDRC
Nuritas
9
Purdue Foundry
ChopSaver
10
OTHER NOTABLE INVESTORS
North Castle Partners(8 Investments)
Atkins, SmartyPants Vitamins, VitaCup
1
Department of Biotechnology(6
Investments)
Natural Remedies, Arjuna Natural Extracts, Lipomic Healthcare
2
CircleUp(4 Investments)
SmartyPants Vitamins, Smari Organics, Trovita Health
3
IndieBio(4 Investments)
Drink Spira, Peer-to-Peer Probiotics, Pure Cultures
4
DSM(3 Investments)
ChromaDex, Natreon, Nutrileads
5
1315 Capital(2 Investments)
JDS Therapeutics, Nutrition 21
6
Eighteen94 Capital(2 Investments)
MycoTechnology, UCAN
7
Callaghan Innovation(2 Investments)
Manuka Health, Douglas Nutrition
8
University of Cambridge(2 Investments)
Ampika Healthcare, Ampika
9
Dr Pepper Snapple Group(2 Investments)
Body Armor, BAI Brands
10
DEBT INVESTORS
TPG(3 Investments)
Suja Life, Schiff Vitamins, Schiff Nutrition
1
Enterprise Ventures(2 Investments)
Science In Sport, OptiBiotix Health
2
Siparex(2 Investments)
Berkem, VF Bioscience
3
Five Points Capital
Bevolution Group
4
Hercules Capital
ChromaDex
5
MidCap Financial
TherapeuticsMD
6
Penta Mezz
Twinlab
7
Silicon Valley Bank
Elysium Health
8

Nutraceuticals > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/3)

Nutraceuticals > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
48
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Medical Devices
Sep 2018
Biopharma Contract Services
Sep 2018
Biotech R&D
Sep 2018

Marketmap: Nutraceuticals
50
Nutraceuticals > Market Details > BlueBox

Key Sub Sectors
51
Key Sub Sectors in Nutraceuticals
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Supplements
Companies that develop ingestible products that contain a dietary ingredient intended to add
additio....
Kyung Nam Pharm (1993, Changwon,
Public)
3175 314 $3.4B
Companies that develop health drinks which include ingredients like herbs, vitamins,
minerals, amino....
Joint Juice (2001, San Francisco, Acquired)
260 75 $1.1B
Companies manufacturing raw materials used for manufacturing nutraceutical products
Fluxome (2002, Stenlose, Acquired)
214 64 $276M
Foods
Companies manufacturing healthy snacks and foods
Cooke Pharma (1995, Belmont, Acquired)
Beloxxi Group (1994, Lagos, $80M)
492 110 $267M
Diversified
Companies that manufacture more than one type of nutritional product
Atkins (1960, Denver, Acquired)
287 51 $161M
Companies providing contract manufacturing services for finished nutraceutical products
Ryt-way (1965, Lakeville, Acquired)
UAS Laboratories (1979, Wausau, $21.2M)
224 39 $88.6M
Nutraceuticals > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/3)
52
Nutraceuticals > Market Details > Detailed Sector Taxonomy

53

54

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Supplements > Multicategory
Companies that manufacture more than one type of supplement
(Companies covered 1431 | Funded 160 | Total Funding $2.6B)
$303M
(+$222M)
26
(-4)
True Health
(1987, Cottonwood, $157M)
2
(+7)
Supplements > Herbal Supplements > Plant Extracts and Phyto-chemicals
Companies that extract biologically active compounds from plants for use in manufacturing
supplements
(Companies covered 679 | Funded 66 | Total Funding $106M)
$69.4M
(+$66.3M)
12
(+9)
Elysium Health
(2014, Palo, $26.2M)
3
(-1)
Companies manufacturing raw materials used for manufacturing nutraceutical products
$123M
(+$84.5M)
7
(-4)
MycoTechnology
(2013, Aurora, $74.7M)
4
(+3)
Diversified
Companies that manufacture more than one type of nutritional product
$56.5M
(+$44.4M)
9
(+3)
Foodspring
(2013, Berlin, $33.7M)
5
(+3)
Supplements > Others
Companies developing nutritional products that cannot be classified in current business models.
$52.4M
(+$49.4M)
7
(+1)
Prolacta Bioscience
6
(-4)
Foods > Health Snack
Companies that manufacture light meal products with nutritional value
$19.9M
(-$75.1M)
10
(-10)
Barnana
7
(-3)
Functional Beverages > Sports Drink
Companies that produce soft drinks containing electrolytes such as sodium, potassium, and chloride,
and a high percentage of sugar, designed to restore energy after or during…
$308M
(+$272M)
3
(-5)
Body Armor
(2011, Beverly Hills, $335M)
55
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Nutraceuticals in last 2 years (October 2016 - September 2018)
Nutraceuticals > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
Nutraceuticals > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Supplements > Herbal Supplements > Plant Extracts and Phyto-chemicals
Companies that extract biologically active compounds from plants for use in manufacturing supplements
(Companies created 679 | Funded 66 | Total Funding $106M )
1 Elysium Health (2014, Palo, $26.2M)
2
Supplements > Vitamins
Companies that manufacture supplements with a vitamin as the primary dietary ingredient
(Companies created 65 | Funded 9 | Total Funding $228M )
1 Ritual (2015, Los Angeles, $15.3M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
57
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (October 2016 - September 2018)
Nutraceuticals > Market Details > Top Markets of Early Stage Investors

Incubators LRM (#2), Y Combinator (#1)
Seed First Round Capital (#1), Highland Capital Partners (#1)
Series A/B Penta Mezz (#1), Goldman Sachs Investment Partners (#1)
Series C+ CPP Investment Board (#2), Diana Capital (#1)
Polisano Pharmaceuticals
Sep - 2018
Acq by Grampet
Vital Foods Sep - 2018
Acq by Mundipharma
Ausway Aug - 2018
Acq by Star Combo
Zarbees Jul - 2018
Acq by Johnson & Johnson
Supernaturals Jul - 2018
Acq by Nordwind Capital
Protexin Jun - 2018
Acq by Archer Daniels Midland
Company for $242M
Seed
Rawvelo (2016, London)
$1.2M - Seed
Vital Plan (2008, Raleigh, $2M)
$29M - Series B
Angel
Guardian (2016, Mumbai)
$1.2M - Seed
Vitl (2015, London, $1.9M)
$511k - Series A
Innerbeing (2014, Hyderabad, $511k)
Oct 2018
ProcessPro ERP Selected by Quicksilver Scientific to Support
Supplement Manufacturing, PR Newswire
Oct 2018
USANA Health Sciences Reports Results for Third Quarter
2018; Updates 2018 Outlook; Board Increases Share
Repurchase Authorization, Business Wire
Oct 2018
dupont, cargill, chs inc., bunge, roquette, profiled in food
protein ingredients market forecast report 2018-2024 other
players – archer daniels midland company, mead johnson
nutrition, mgp ingredients rousselot, tessenderlo group, The
Camping Canuck
Oct 2018
Kibow Biotech to Exhibit Its "Enteric Dialysis®" Technology
and Renadyl™ to Delay The Need For Hemo/Peritoneal
Dialysis at the Annual ASN 2018 - Kidney Week Conference,
BioSpace
Oct 2018
Amway takes Flipkart to court for ‘illegally’ selling its goods,
Indiatimes
Oct 2018
Herbalife Nutrition to launch high-protein coffee mix,
Nuffoods Spectrum
Oct 2018
Natural Health Trends Announces Third Quarter 2018
Preliminary Revenue Estimate, GlobeNewswire
Oct 2018
Perrigo replaces CEO Roehrhoff with consumer goods
veteran, Reuters
Oct 2018
NutraFuels Inc. (OTCQB: NTFU), Cannabidiol (CBD)
Nutraceutical Manufacturers, Attends Southern Hemp Expo
and Prepares for Launching CBD Twists and CBD Drink
Shots, Two New Single-Dose Options for Consumers,
NewMediaWire
Oct 2018 Vitality Reports Second Quarter Results, CNW
News
88
15
39
160
1431
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Supplements > Multicategory: Market Factsheet
58
Exits
Recent InvestmentsCompanies that manufacture
more than one type of supplement
MMUSA
(1995, Blaine, $284M)
True Health
(1987, Cottonwood, $157M)
Aloha
(2012, West Palm Beach, $70.9M)
Before brands
(2015, San Francisco, $48.1M)
Care/of
(2016, New York City, $42.9M)
Top Companies
#1 Top Markets of Investment Activity
Nutraceuticals > Market Details > Market: Multicategory
Companies Created 1431 | Funded 160 | Total Funding $2.6B
0
10
20
$0k
$100M
$200M
$300M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Multicategory

Supplements > Multicategory: Top Companies
Market: Multicategory (1/2)
Analyst’s Pick
products
Soonicorn. Stage: Funded
products
Minicorn. Stage: Funded
WM Partners
Aloha (2012, West Palm Beach, $70.9M)
A wellness company manufacturing vegan foods
and dietary supplements
Minicorn. Stage: Series B
First Round Capital, Highland Capital Partners,
Forerunner Ventures and 23 Other Investors
Nutraceutical company commercializing products
to support immune health in infants and toddlers
Gurnet Point Capital
Analyst’s Pick
Monthly subscription box for a range of dietary
supplements
Editor's Pick. Stage: Series B
Goldman Sachs Investment Partners, Goodwater
Capital, RRE Ventures and 5 Other Investors
Keraplast Technologies (1997, San Antonio,
$4.9M)
Keratin extraction technology for developing health
and beauty products
Editor's Pick. Stage: Series A
Unomi (2006, Austin, $3.7M)
Personalized dietary supplements
Multiply Labs (2016, San Francisco, $2.8M)
Designing personalized supplement pill as per
individual needs
Graph Ventures, Fenox Venture Capital, CRCM
Venture and 7 Other Investors
Analyst’s Pick
4Life (2014, Sandy)
Manufactures a range of proprietary health and
nutritional supplements
Editor's Pick. Stage: Unfunded
Agati Healthcare (2010, Mumbai)
Developing and manufacturing biopharmaceuticals,
biosimilars and health supplements products
Avion Pharmaceuticals (2011, Alpharetta)
Speciality pharma company developing drugs in
TAs such as women’s health, pediatrics and
cardiology
BariMelts (2017, Miami)
Fast melting dietary supplements for weight loss
surgery patients
Hantian Labs (2013, London)
Skin care and hormone balance supplements
Editor's Pick. Stage: Acquired

Supplements > Multicategory: Top Companies
Market: Multicategory (2/2)
Analyst’s Pick
Life Extension (1980, Lauderdale)
Developing and marketing a range of nutritional
products
MitoSynergy (2008, Kaukauna)
Dietary supplements for fitness and sports
Modern Era Naturals (2014, Toronto)
Manufactures and markets lipid encapsulated
supplements
Nature's Way (1968, Green Bay)
Supplements for daily requirements
Never Too Hungover (2006, Las Vegas)
Vitamin and mineral blend for prevention of
hangover
Nordic Naturals (1995, San Francisco)
Dietary supplements for daily needs
Analyst’s Pick
This is Bio (2010, Krakow)
Healthcare & nutrition brand
Young Living (1993, Lehi)
Direct to consumer brand of essential oils

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
61
Supplements > Multicategory: Leaderboard
Better than Market Average
Market: Multicategory
Overall
Rating
Company
Name
Foun
ded
Year
Location Stage Funding Team
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Herbalife 1980 Los Angeles Public - - 4 4 5 50 90k 5.7k 848k 5.3k 10k 12% 865 20% -148 -3%
5.0
USANA Health
Sciences
1992
Salt Lake
City
Public - - 5 4 4 22 47k - 368k 1.3k 3k 5% 112 10% - -
5.0 Zurvita 2008 Houston Public - - 4 - 3 - 252k 2.6k 30k 705 -141k -36% 71 11% 7 -
5.0 GNC 1935 Pittsburgh Public - - 4 4 4 47 16k 211k 300k 2.1k 1k 6% 97 5% -6696 -3%
5.0 IDLife 2014 Frisco Unfunded - - 5 4 4 - 488k 3.2k 3k 40 37k 8% 1 3% -2 -
5.0 Hairfinity 2004 Slidell Unfunded - - 5 - - - 314k 44k 30k 348 -58k -16% 176 100% 1.7k 4%
5.0 Vestige 2004 Delhi Unfunded - - 5 5 5 - 42k 140 3.8M 26.8k -12k -22% 12.8k 85% 11 8%
5.0 Lifeplus 1992 Batesville Unfunded - - 4 - 3 2 158k 2.4k 8k 71 23k 17% 7 11% -27 -1%
5.0
Nestle Health
Science
2011
Bridgewate
r
Unfunded - - 3 3 4 2 656k 2.3k 3k 21 11k 2% 1 5% 360 19%
5.0 FuXion 2004 Lima Unfunded - - 5 - 2 - 972k 15k 8k 128 772k 393% 8 2% - -
5.0 Plexus 2006 Scottsdale Unfunded - - 4 - - 1 68k 12k 38k 141 1k 1% 7 5% -100 -1%
5.0 Immunotec 1996
Vaudreuil-
dorion
Public - - 5 4 3 5 103k 277 34k 194 -9k -8% 53 35% -15 -5%
5.0
Viridian
Nutrition
1999 Daventry Unfunded - - 3 - - - 809k 4.7k 8k 11 79k 11% 5 83% 304 7%
5.0 LivePure 2012 Las Vegas Unfunded - - 5 4 4 - 357k 4.5k 8k 46 -267k -43% 7 15% -75 -2%
4.9 Xyngular 2010 Lehi Unfunded - 4 5 4 4 - 99k 2.9k 3k 22 -5k -5% - - 124 5%

Incubators
Seed
ICICI Venture (#1), 2x Consumer Products Growth Partners
(#1)
Series A/B General Catalyst Partners (#1), Breyer Capital (#1)
Series C+ Lincoln Park Capital (#1), Castanea Partners (#1)
Manuka Health Oct - 2018
Acq by Hong Leong Group for $144M
BioGanix Jun - 2017
Acq by Relevium technologies
Go Epic Health Nov - 2016
Acq by Leone Asset
Fredun Group Mar - 2016
IPO'd on BOM
Ganga Pharmaceuticals Feb - 2016
IPO'd on BOM
Vitamin Research Products
Aug - 2015
Acq by Health Products
$395k - Seed
NeuroClub (2018, Virginia Beach,
$395k)
$19.4M - Series A
Manus Bio (2011, Cambridge, $28.8M)
$8.9M - Series C
Amazentis (2007, Lausanne, $8.9M)
$4.2M - Series A
Constance Therapeutics (2008, San
Francisco, $4.7M)
Series A
$9.1M - Series A
Oct 2018 Sido Muncul targets 20% growth next year, IDN Financials
Oct 2018
Angelica Extract Category - Global Procurement Market
Report (2018-2022) Featuring Merck, Ultra International,
Bio-Botanica, NOW Health Group, Mighty International, and
Young Living Essential Oils - ResearchAndMarkets.com,
Business Wire
Oct 2018
Go Epic Health Updates on Cholesterade® Case Studies and
Clinical Research, GlobeNewswire
Oct 2018
Go Epic Health Updates on Cholesterade(R) Case Studies and
Clinical Research, NewMediaWire
Oct 2018
Dabur India to strengthen distribution network, Fashion
Network
Oct 2018
EastGate Biotech Receives Approval to Commence a Phase 2
Trial for Liquid Insulin Mouth Rinse Solution Addressing
Patient Compliance in the Type 2 Diabetes Market, Newswire
Oct 2018
DolCas Biotech to Launch Organic Olive Tree Ingredient in
US, BioSpace
Oct 2018
Arjuna Natural to Market Curcugreen™ Directly to the US
Market, PR Newswire
Oct 2018
Malaysia's Hong Leong acquires NZ-based Manuka Health:
Report, Deal Street Asia
Sep 2018
Nature’s Sunshine Products announces Terrence Moorehead
to its Board of Directors as CEO, Talent4Boards
Sep 2018
HangZing launches anti-hangover supplement line, Nuffoods
Spectrum
News
24
10
15
66
679
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Supplements > Herbal Supplements > Plant Extracts and Phyto-chemicals: Market Factsheet
62
Exits
Recent InvestmentsCompanies that extract
biologically active compounds
from plants for use in
manufacturing supplements
Manus Bio
(2011, Cambridge, $28.8M)
Elysium Health
(2014, Palo, $26.2M)
Amazentis
(2007, Lausanne, $8.9M)
Avesthagen
(1998, Bangalore, $7.5M)
Constance Therapeutics
(2008, San Francisco, $4.7M)
Top Companies
Nutraceuticals > Market Details > Market: Plant Extracts and Phyto-chemicals
Companies Created 679 | Funded 66 | Total Funding $106M
0
5
10
$0k
$50M
$100M
2014 2015 2016 2017 2018
Market: Plant Extracts and Phyto-chemicals

Supplements > Herbal Supplements > Plant Extracts and Phyto-chemicals: Top Companies
Analyst’s Pick
Microbial biotechnology firm aiming to produce
phytochemicals using microbial fermentation
Bill and Melinda Gates Foundation, Nelstone
Ventures, Small Business Innovation Research and
5 Other Investors
supplement
Silicon Valley Bank, General Catalyst Partners,
Breyer Capital and 6 Other Investors
Plandai Biotech (2004, Goodyear, $15.3M)
Developing bioavailable extracts from live plant
materials for use in nutraceuticals
Lincoln Park Capital
Analyst’s Pick
Amazentis (2007, Lausanne, $8.9M)
Developing nutritional products to slow aging and
improve quality of life
Editor's Pick. Stage: Series C
Waypoint Capital

64
Supplements > Herbal Supplements > Plant Extracts and Phyto-chemicals: Leaderboard
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0
Nature's
Sunshine
1972 Lehi Public - - 5 4 3 8 151k 5.4k 3k 22 31k 25% 2 10% -132 -2%
5.0 VMALife 2015 Singapore Unfunded - - 5 - 3 - 1.3M - 3k 65 331k 36% 7 10% - -
5.0 Allysian 2015 Richmond Unfunded - 3 4 2 3 - 622k 183 3k 82 -61k -9% 4 4% -2 -1%
5.0 Dabur India 1884 Ghaziabad Public - - - - 5 55 98k 5k - - -2k -1% - - 607 14%
5.0
Boss Level
Labs
2017 Frisco Funded - - - - 5 - 3.3M 11 - - 2M 105% - - 1 2%
5.0 Kyani 2005 Idaho Falls Unfunded - - 5 4 4 - 161k 7.7k 75k 257 31k 23% - - -132 -2%
5.0
Constance
Therapeutics
2008
San
Francisco
Series A $4.7M - - - 4 3 1.8M 155 - - 426k 31% - - 31 25%
4.9
Your
Superfoods
2015 Berlin Funded - 2 - - 4 - 2.1M 1.3k - - 824k 72% - - 44 4%
4.9 Thrivous 2015 Orem Unfunded - - - - 5 - 356k 2.4k - -
-
1000k
-75% - - 249 12%
4.9 MegaCare 1995 Henderson Funded - - - - 4 - 884k 11 - - - - - - 1 7%
4.9 Natreon 1998
New
Brunswick
Funded $2.5M - - - 4 4 2.2M 161 - - -6.4M -75% - - 26 19%
4.9 Voke Tab 2011 Bozeman Seed $100k - - - 4 - 2.5M 244 - - 2M 122% - - -11 -5%
4.9 DATSUSARA 2007
Valley
Village
Unfunded - 2 - - 4 - 454k 3.3k - - -56k -11% - - 109 3%

Incubators Thrive Agtech (#1), NDRC (#1)
Seed Koniag Development Corporation (#1), Afternic (#1)
Series A/B Seventure Partners (#1), Ajinomoto (#1)
Series C+ Everstone Capital (#1), Vecata (#1)
Mazza Innovation Jul - 2018
Acq by Sensient
Frutarom May - 2018
Acq by IFF Inc. for $7.1B
IBR Feb - 2018
Acq by Frutarom for $21M
Omega Protein Dec - 2017
Acq by Cooke Aquaculture for $500M
NutraGenesis Nov - 2017
Acq by Innophos for $28M
$23.5M - Series B
MycoTechnology (2013, Aurora,
$74.7M)
$20M - Series A
$7M - Series B
$74.7M)
$2.5M - Series A
Mazza Innovation (2011, Delta,
$2.8M)
$35M - Series B
$74.7M)
Series A
Nutrileads (2012, Wageningen)
Oct 2018
Compound Solutions Aggressively Pursues Patent Violators
of its goBHB® ketone, PRWeb
Oct 2018
Ingredion Announces Preliminary Third Quarter 2018 EPS
and Adjusted EPS and Revises Adjusted EPS Guidance; Board
Authorizes Repurchase of up to an Additional 8 Million
Shares of Stock, ACN Newswire
Oct 2018
Bluebonnet Targeted Choice Joint Support Formula Utilizes
BioCell Collagen, Nutraceuticals World
Oct 2018
FutureCeuticals Launches New Product - S7: Boosts NO by
230%, PR Newswire
Oct 2018
basf, cardax, inc., algaeon, inc., profiled in astaxanthin market
forecast report 2018-2024 other players – archer daniels
midland company, fuji chemical industries usa, inc, divis
nutraceuticals,, The Camping Canuck
Oct 2018
Lonza Opens Monoplant for Clovis Oncology’s Rubraca,
PharmTech
Oct 2018
Lonza boosts ADC manufacturing with new investment,
BioPharmaDive
Oct 2018
MBA Engineering and Noblegen partner to offer N2
generation systems, gasworld
Oct 2018
Nuritas Announces Formation of Scientific Advisory Board,
PM360
Oct 2018
Radient Technologies Inc. Receives Controlled Drugs and
Substances Licence for Its Manufacturing Facility, CMOCRO
Oct 2018
Sweegen and Ingredion bring non-GMO Reb D stevia to
Colombia, CNW
Oct 2018
New Partnership set to save manufacturers money and
reduce CO2 emissions, BQ Live
News
40
12
26
64
214
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Nutraceutical Ingredients: Market Factsheet
65
Exits
Recent InvestmentsCompanies manufacturing raw
materials used for manufacturing
MycoTechnology
(2013, Aurora, $74.7M)
OmniActive
(2004, Mumbai, $35M)
Nuritas
(2014, Dublin, $30M)
Fluxome
(2002, Stenlose, $27.7M)
Oceans Omega
(2009, Montvale, $22.3M)
Top Companies
Nutraceuticals > Market Details > Market: Nutraceutical Ingredients
0
5
10
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Market: Nutraceutical Ingredients

Nutraceutical Ingredients: Top Companies
Analyst’s Pick
Discovery of natural active ingredients with
scientifically proven health benefits
Cultivian Sandbox, European Union, Enterprise
Ireland and 5 Other Investors
Oceans Omega (2009, Montvale, $22.3M)
Functional food company developing and marketing
omega-3 concentrates
Editor's Pick. Stage: Series B
Enzymotec (1998, Kfar Saba, $21M)
Bio-functional lipid ingredients and final products
for nutritional and pharmaceutical application
Frutarom, Ofer-Hi Tech, Millennium II Materials
Technology Fund and 7 Other Investors
Advanced Enzyme Technologies (1989,
Thane, $18.3M)
Manufactures enzymes for nutrition, food
processing and industrial processing
Soonicorn. Stage: Public
Avendus, Deutsche Bank, Kuwait Investment
Authority and 5 Other Investors
Analyst’s Pick
ChromaDex (1999, Irvine, $3.4M)
Discover and develop patented ingredient
technologies
Western Alliance Bancorporation, Hercules Capital,
DSM, National Science Foundation
$2.6M)
Develops and markets high-value naturally derived
plant extracts
Aurora Cannabis, Koniag Development
Corporation, Afternic and 2 Other Investors
Traditional company manufacturing flavor and fine
ingredients
Bank Leumi
Food ingredients manufacturer
Unicorn. Stage: Public
Analyst’s Pick
Lonza (1897, Basel)
Company offering a suite of CDMO services to
pharma, biotech and specialty ingredient markets
United States Department of Defense, EDBI
Monteloeder (1996, Elche)
Provider of nutraceutical ingredients
Natto Pharma (2004, Oslo)
Manufactures patented vitamin k2 ingredient

67
Nutraceutical Ingredients: Leaderboard
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Rousselot 1891 Eindhoven Unfunded - - - - 5 7 1.6M 1.4k - - 3M 197% - - 440 46%
5.0
The DuPont
Nutrition and
Health
1989
Copenhage
n
Acquired - - - - 3 39 640k 3.5k - - 68k 12% - - 130 4%
5.0
Suntava Purple
Corn
2007 Afton Acquired $5.8M - - - 3 - 10M 97 - - - - - - 2 1%
4.9
Arla Food
Ingredients
2000 Viby Unfunded - - - - 4 5 1.1M 3.3k - - -820k -47% - - 807 32%
4.9
OptiBiotix
Health
2012 York Public - 3 - - 3 59 2.8M 585 - - -3.7M -79% - - 191 47%
4.9 Balchem 1967
New
Hampton
Public - - - - 3 12 2M 100 - - -2.7M -60% - - 13 15%
4.9
Jennewein
Biotech
2005
Rheinbreitb
ach
Funded - - - - 3 4 4.6M 87 - - - - - - 16 22%
4.8 Solutex 2004 Alcobendas Series A $3M - - - 3 - 10M - - - 12M 132% - - - -
4.8 Taiyo 1946
Minneapoli
s
Unfunded - - - - 3 2 972k 112 - - - - - - 4 3%
4.8 ChromaDex 1999 Irvine Public $3.4M - - - - 23 710k 2.3k - - -36k -5% - - 33 2%
4.8
Radient
Technologies
2001 Edmonton Public $2.6M - - - - 28 2.8M 120 - - 322k 14% - - 9 8%
4.7
Kappa
Bioscience
2006 Oslo Unfunded - 4 - - 3 2 2.9M 312 - - - - - - 65 26%

Nutraceuticals > Market Details > Market: Diversified
Market: Diversified

Market: Diversified

Nutraceuticals > Market Details > Market: Others
Market: Others

Market: Others

Nutraceuticals > Market Details > Market: Health Snack
Market: Health Snack

Nutraceuticals > Market Details > Market: Sports Drink
Market: Sports Drink

Nutraceuticals > Market Details > Market: Probiotic Drink
Companies Created 24 | Funded 6 | Total Funding $90.6M
Market: Probiotic Drink

Nutraceuticals > Market Details > Market: Probiotics
Market: Probiotics

Nutraceuticals > Market Details > Market: Contract Manufacturing
Market: Contract Manufacturing

Nutraceuticals > Market Details > Market: Prebiotics
Market: Prebiotics

#2 Top Markets of Early Stage Investors
Nutraceuticals > Market Details > Market: Vitamins
Market: Vitamins

Market: Vitamins

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
93
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/15)
95
Performance indicators of public companies in Nutraceuticals
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Jul 2017
Eagle Health Holdings (2001, Xiamen)
Developing and marketing a range of health food products
$55.2M $961M 5.87 ASX:EHH
Mar 2017
Rapid Nutrition (2001, Coorparoo)
Manufactures and exports nutritional products
SWX:RAP
Feb 2017
Arev Nutrition (2016, Vancouver)
Manufactures coconut based health drink products
CNSX:ARV
Oct 2016
HL Science (2000, Uiwang)
$180M $121M $28.5M 26.88 KOSDAQ:239610
Aug 2016
Advanced Enzyme Technologies (1989, Thane)
Manufactures enzymes for nutrition, food processing and industrial
processing
$265M $300M $51.5M 18.78
NSE:ADVENZYM
ES
May 2016
Bajaj Health (1993, Mumbai)
Manufacturer and supplier of Supplements, APIs & Intermediates
and formulations
$44.8M $17.6M $35.9M 21.81 BOM:539872
Mar 2016
Fredun Group (1987, Mumbai)
Pharma group with multiple subsidiaries with focus on generics,
herbal products and APIs
$16.4M $9M 40.84 BOM:539730
Feb 2016
Ganga Pharmaceuticals (1989, Mumbai)
Manufactures natural ingredients based health supplements
$8.9M $489k BOM:539680
Jan 2016
Canadian Bioceutical (2014, Toronto)
Manufacturing and marketing a range of nutraceuticals and
bioceuticals
CNSX:BCC
Nutraceuticals > Exit Outlook > Public Companies

96
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Jul 2015
Medlab (2012, Sydney)
Company developing pharmaceuticals, nutraceuticals and biologics
for treating chronic diseases
$67.7M $25.9M $3.4M ASX:MDC
Dec 2014
Aroma Celte (2011, Ploufragan)
Manufactures health supplements and personal care products
EURONEXT:MLA
RO
Aug 2014
Discovers and develops microbial strains, compounds, and
formulations, which modulate the human microbiome
$94.7M $9.7M $360k LON:OPTI
Jul 2014
Kolmar BNH (2004, Sejong)
Offers nutrition supplements and cosmetics
$633M $13.7M 18.46 KOSDAQ:200130
Jun 2014
Zivo Bioscience (2014, Keego Harbor)
Bioactive compounds from algal strain
OTCMKT:ZIVO
May 2014
Nutrafuels (2009, Coconut Creek)
Manufacturing and marketing oral spray vitamins and supplements
$17.5M OTCMKTS:NTFU
Mar 2014
Venture Life (2010, Bracknell)
Company focused on developing, manufacturing and
commercialising products for the ageing population
$49.8M $43.8M $17.6M LON:VLG
Dec 2013
Mix1 Life (2006, Orlando)
Manufacturing and marketing protein shakes
MIXX
Nov 2013
Mega LifeSciences (1982, Bangkok)
Traditional company engaged in manufacturing nutritional & herbal
supplements, OTC and ethical products
$479M $247M BKK:MEGA

97
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Aug 2013
Manufactures and markets sports nutrition products
$63.8M $16.9M $15.1M LON:SIS
Dec 2012
Euglena (2005, Tokyo)
Developing and marketing microalgae for use in functional foods
TYO:2931
Jun 2012
MYOS RENS Technology (2011, Cedar Knolls)
Nutritional supplements, functional foods, and therapeutic products
$9M $526k NASDAQ:MYOS
Jun 2012
Plandai Biotech (2004, Goodyear)
Developing bioavailable extracts from live plant materials for use in
nutraceuticals
OTC:PLPL
Dec 2011
Kino Biotech (2010, Singapore)
Bio-nutraceutical and cosmeceutical company
$16.8M TPE:4154
Dec 2011
Radient Technologies (2001, Edmonton)
Develops and markets high-value naturally derived plant extracts
$237M $220k CVE:RTI
Oct 2011
Burcon (1998, Vancouver)
Manufactures plant protein based health drinks
$65.9k NASDAQ:BUR
May 2011
Game Plan (1999, Henderson)
Nutritional supplements manufacturer and distributor.
GPLHE
May 2011
Pivotal Therapeutics (2010, Vaughan)
Canadian, commercial-stage biopharma developing highly-purified
prescription Omega 3 Therapy for CVD
$263k CNSX:PVO

Tracxn - Nutraceuticals Startup Landscape

Tracxn - Nutraceuticals Startup Landscape

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