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Unilever Ventures focuses on women’s health with Perelel investment

Unilever Ventures has invested in US women’s health startup Perelel, which makes products for women’s reproductive health across different stages, such as supplements for the first, second, and third trimesters of pregnancy.

In the series A round, Perelel raised $6 million. The round, which counted Willow Growth and Selva Ventures as additional investors, brings the total raised do far at €11.2m ($12.1m) with 19 products launched within the last three years.

“As a rapidly-growing female- and medically-founded business, we have committed ourselves to creating a more fiscally responsible business model by raising smart capital from partners who are experienced in consumer packaged goods and the direct-to-consumer space,” said Victoria Thain Gioia, co-CEO and co-founder of Perelel.

“We fundamentally want to do business differently by raising what's needed for us to have a successful outcome for everyone."

Perelel: Founded by doctors

Along with soon-to-be mother of four Gioia and fellow co-founder and CEO Alex Taylor, Perelel was founded in 2020 along with medical co-founder Dr Banafsheh Bayati.

Their aim was to address the varying nutritional needs of women at different hormonal life stages including prenatal, postpartum care, and general women's wellness.

The startup’s latest category expansion – Synbiotic Greens Powder– is designed to support gut, digestive, and immune health with a blend of ingredients that includes inulin and the probiotic Bacillus subtilis.

Perelel also offer products for sleep support as well as multivitamins for different life stages and supplements for gut health and digestion.

With this latest funding injection Perelel said it would continue to invest in the business, growing the team as well as efforts in the startup’s research and development.

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Women's health space a ‘massive and underserved category’

"This marks our first investment in the women's health space – a massive and underserved category where Perelel is making a splash by offering high-quality and clinically-backed solutions for women at different stages of their reproductive journey,” said Madeline Kaplan, Principal at Selva Ventures.

“Victoria Thain Gioia and Alex Taylor are a powerhouse team, motivated by their personal experiences and bringing together complimentary professional skill sets. We can't wait to see where they go from here.”

The funding parallels a growing emphasis on women's health, where other supplement firms are devoting considerable resources to this category.

Late last year, Pharmavite purchased the menopause solutions company Bonafide Health for €395m ($425m), as it looks to expand its portfolio of women’s health brands.

Pharmavite, which owns the popular brand Nature Made, added to a portfolio which includes Uqora, a urinary tract health company, and Equelle, a menopause supplement brand.

“This acquisition positions us as the nation’s leading women’s health nutraceutical company, signalling a new era of innovation and science-based solutions in this underserved space,” said Jeff Boutelle, CEO of Pharmavite.

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Closing the women’s health gap: An opportunity to improve lives and economies

Other industry news in this space, in which the World Economic Forum and the McKinsey Health Institute found every $1 invested generates around $3 in projected economic growth, includes Dr Reddy's acquisition of MenoLabs, a women’s health and dietary supplement branded portfolio from Amyris.

The purchase, announced last month, would, “serve as a catalyst to accelerate growth in this space and build upon our aspiration to lead in the fast-growing women’s nutritional and wellness markets,” according to Marc Kikuchi, CEO for Dr Reddy’s in North America.

The growing interest in women’s health has also reached the corridors of power with the US administration launching the first White House Initiative on Women's Health Research last November.

"As the only female OB/GYN founded women's supplement company Perelel is committed to ensuring that all women have access to medically backed care,” added Dr Bayati.

“Some of the groups most vulnerable to micronutrient deficiencies are pregnant and lactating women, primarily because they have a relatively greater need for vitamins and minerals and are more susceptible to the harmful consequences of deficiencies."