Natural supplements provider The Nue has raised US$9m (£7.1m) to accelerate expansion and product innovation with consumer goods heavyweights rushing to back the company’s efforts.

The funding was led by venture capital firm Waldencast, with Unilever Ventures, Redo Ventures, and the group of L’Occitane also participating in the investment.

The Nue plans to use the capital raised to grow its direct-to-consumer offering, which allows clients to take an online test and receive monthly tailored supplement plans.

Alongside its D2C service, the brand is currently available from retailers such as Net-A-Porter and Soho House.

Part of the investment will also be used towards expanding product range, the company, funded by British entrepreneur Jules Miller in 2017, added.

The latest fundraise is on top of a £1.5m seed investment led by private equity fund Morningside Group at the end of 2017.

Topics