We had already talked about Cuure during our review of their offer: following an online questionnaire about one’s lifestyle and identity, the startup offers a personalized dietary supplement program, on subscription. At the same time, it revitalizes a market dominated by large laboratories not always knowing how to communicate with millennials.
Launched in January 2019 by two young founders, Cuure had developed so far without investment funds by their side. They now claim 10,000 unique customers and their team reportedly has about fifteen members according to LinkedIn.
This fundraising is the third in the nutraceutical sector in France along with Miraculeux (€800,000) and the recent one by Nutri&Co (€4M from Creadev, the Mulliez family fund). This also confirms one of our analyses of the nutraceutical market in France published on Maddyness, with an expected increase in the number of fundraisings in 2020.
Towards European development
The primary goal put forward is the international development of the business. Cuure thus wishes to be able to deliver its products throughout Europe, particularly Western Europe. This is understandable as the biggest markets in the dietary supplement sector are the United Kingdom, Germany, Italy, and Spain.
No opening of an office abroad for the moment, everything will be managed from France with a strengthening of on-site teams. A cautious strategy that we can explain by the current health context, and by the ultimately limited size of the fundraising which does not allow for all-out development. Especially since part of the announced amount had actually been raised earlier and thus already spent.
Diversifying to face the competition?
In an increasingly competitive nutraceutical market for startups, Cuure also chooses to stand out with a diversification of its activities. In addition to its subscription sales activity, the founders speak of personalized support, a platform of advice, and teleconsultations around nutrition. The startup would even like to offer meditation courses!
Who will be the next dietary supplement startup to raise funds? Aime, Mathilde Lacombe’s nutricosmetic startup? Epycure, Cuure’s direct competitor, or Dijo, the digitally-native probiotic specialist?
