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Elo Raises $10M A-Round and Launches Smart Protein – The First Wearable-Powered Protein Formulated for Optimal Recovery

Harnessing the power of wearable technology, individual biomarker data, and AI, Elo’s Smart Protein takes personalized protein powder to a new level of precision

SAN FRANCISCO, January 24, 2023-- Today, Elo - the Smart Nutrition company - is excited to announce a $10M Series A round led by Octopus Ventures, one of the most active VC firms in Europe. Will Ventures and Re:food.vc also contributed to the round. Elo will use the funds to grow their product development and marketing teams (yes, we are hiring!) and scale up the Smart Supplement and Protein products.

“Hyper-personalized healthcare is an area that we believe that the most pioneering and valuable businesses will be built in. Elo’s ambitious vision of turning food from the cause of disease to medicine - combined with their strong team - fuelled our excitement to lead their Series A round. As a doctor, I believe that Elo’s evidence-based, personalized nutrition approach will help tackle one of the greatest challenges of our time.”

Chantal Cox, MD
Octopus Ventures

Elo is also proud to introduce their second product, Smart Protein - the first-ever protein product tailor-made for your biomarkers, goals, and activity data. See Elo Smart Protein launch video.

Underpinned by a firm foundation of science, Elo’s patent-pending recommendation engine utilizes activity data from wearables, health history, and personal goals, to create a personalized protein blend for each member. Available in chocolate, vanilla, and plain flavor, Elo’s non-GMO Smart Protein blends are built on a base of grass-fed whey protein or pea protein isolate (vegan) and contain other functional ingredients such as super greens, turmeric, and collagen, depending on your unique nutrition profile and recovery goals.

Elo Smart Protein is the first protein product to provide post-workout protein dosing recommendations based on the intensity and duration of each activity recorded in Apple Health. By linking Apple Health workout data to the Elo app, Elo members can receive custom protein dosing recommendations based on the intensity and duration of every workout.

“Other personalized protein products use questionnaires to come up with the right formulation for you but provide very little information on dosing. At Elo, we take personalized protein to new heights by using your wearable, biomarker, and health data to formulate your custom blend and providing dosing guidance based on your latest activity.”

Ari Tulla, CEO & Co-founder
Elo

Elo’s Smart Protein Powder is the second product launched by the Smart Nutrition brand. Smart Protein membership includes personalized protein delivered monthly and unlimited messages with a dedicated registered dietitian via the Elo app.

Elo unveiled its first product - a monthly Smart Supplement membership that includes at-home biomarker testing, nutrition coaching, and custom supplement packs delivered monthly - in 2022. For more information, please visit www.elo.health.

Key points:

• Elo is the first company to offer wearable-powered protein powder.
• Each Smart Protein blend is custom-made for every Elo member and offers a combination of highly bioavailable protein and functional ingredients based on wearable data, healthy history, and personal goals.
• Leveraging the power of wearable technology, Elo Smart Protein is the first protein product to provide protein dosing recommendations based on the intensity and duration of each workout.

Media Assets:

• Elo Smart Protein Launch videos
• Elo Smart Protein images
• Team headshots

About Elo

Elo is the Smart Nutrition company turning food from the cause of disease to medicine by leveraging data from wearables, biomarker testing, and health questionnaires. Elo's mission capitalizes on the growing consumer appetite for nutrition-focused health solutions backed by science. The company was founded in 2020 by three serial entrepreneurs:

• Ari Tulla (Nokia, BetterDoctor, Quest Analytics)
• Tapio Tolvanen (Nokia, BetterDoctor, Quest Analytics)
• Miklu Silvanto (Apple, Airbnb, B&O)

About Octopus Ventures

Octopus Ventures is one of Europe’s largest Venture Capital teams. Headquartered in London and New York, with Venture Partners in San Francisco, Singapore, and China, they help entrepreneurs scale globally.

Contact:
Edwina Clark, Marketing Director
edwina@elo.health