Nutri&co was founded in 2017, with the goal of becoming the European leader in nutraceuticals (another name for dietary supplements). Offering both spirulina and multivitamin complexes, the French laboratory initially launched on Amazon’s marketplace before creating its own e-shop.
This fundraising was conducted with key investors: Creadev, the investment fund of the Mulliez family (Auchan, Kiabi, Jules, etc.), and Jacques Chevallet, who was previously the president of the French leader in dietary supplements Arkopharma.
As a sign of a market acceleration, this financing round took place almost at the same time as Cuure’s fundraising, another startup specializing in dietary supplements targeting millennials.
Nutri&Co aims at a French market still lagging behind
The average consumer of dietary supplements today is over 55 years old and still views these products as over-the-counter medications, which are purchased in pharmacies.
Moreover, the penetration rate of these supplements in France is one of the lowest in the West, with an average purchase of €16.40 per person per year. This is far from the €80 in the United States, €56.50 in Italy, €30 in Germany, and €34 in Belgium.
With its innovative and natural formulas, 100% digital distribution, and mastery of the entire value chain, Nutri&Co aims to revamp the French market. According to its leader Edouard Fornas, the market holds much potential as studies show a growing interest among the French in dietary supplements.
A European market worth over 16 billion euros
With a third of its turnover generated in Italy, Nutri&Co is already a European company – and plans to expand further as international development is one of its major focus areas.
With this fundraising, Nutri&Co also intends to expand its range, launching 7 to 8 new references per year and developing its distribution network, targeting physical points of sale for the first time.
The startup will also initiate research projects with a laboratory specializing in gut flora, aiming to offer increasingly effective products. Finally, it plans to grow its team with key hires in product development, digital marketing, and creative design.
