Just eight months after launch, a startup called Vitobox — which offers personalized combinations of vitamins and nutritional supplements — has raised 107 million rubles ($1.4 million) at a $14 million valuation.
The funding will go, in particular, to international expansion: the startup plans to launch pilot projects later this year in Kazakhstan, the UAE, Singapore, Malaysia as well as in France, Germany, Italy and Spain.
Vitobox claims to have attracted 25,000 Russia users since its launch. It says its AI-powered algorithm was designed with participation from endocrinologists, nutritionists, general practitioners, obstetricians and gynecologists.
The investor, Standard Investment Company, operates mainly on capital markets. It backed Vitobox at the inception stage, bringing in 40 million rubles (around $550,000) in exchange for a 10% stake.
Source: Inc. Russia
