Freeths advises Btomorrow Ventures on its investment in Feel

National law firm Freeths has advised Btomorrow Ventures, the corporate venturing unit of British American Tobacco, on its investment in Feel, a digital health start-up.

Wellness brand Feel offers a broad range of science-led, high-quality nutritional products. Feel offers consumers the convenience of a subscription service, ensuring that wellness is only ever a click away.

The investment will see Feel use a data-first tailored approach to user journeys and expand to new markets.

The Freeths legal team was led by Corporate Partner Malin Svanberg Larsson, assisted by Associate Victoria Price.

Commenting on the deal, Malin Svanberg Larsson said: “It was fantastic to work with Lukasz, Peter and the BTV team on this investment and we look forward to seeing Feel's exciting journey continue in this next key stage of growth. Congratulations to all involved!” Thanks to its fast-growing product range and smart digital features, Feel is on a quick path to becoming a household name in the UK. Since its partnership with pop star Cheryl and Investment from the UK's largest commercial TV broadcaster's media for equity venture arm - ITV AdVentures - in 2021, Feel has now secured a £10million Series A round led by Velocity Capital Advisors alongside BAT's corporate venture fund Btomorrow Ventures. The round also includes existing investors Fuel Ventures, TMT Investments and ITV's media for equity fund ITV AdVentures as well as ultra-high net worth individuals.

Having seen substantial growth over the last few years, Feel has grown to a team of 30, and is set to expand its growing range across nutritional supplements, beauty and functional foods to reach new markets, while providing a new digital experience to users, led by strong first-party data and consumer insights. Feel plans to further strengthen its software by using the power of customer data to better tailor and suggest more relevant health products to its customer base."

Boris Hodakel, Founder and CEO of Feel continued: “I'm thrilled to be welcoming to Feel our new investors who understand our mission in empowering people to look and feel their best, through clean, high-performing, science-led, sustainable products. Their investment in the company further allows our vision of becoming a global brand by 2025, with the ability to expand through never-before-seen fine-tuned digital experiences for users. We just launched in Germany and Austria and can't wait for customers in other markets to discover how Feel brings the difference in this space.”

Rajeev Saxena CEO of Velocity Capital Advisors said: “It's clear that Feel has been growing exponentially over the last few years, and with their plans to expand in core markets with their data-first approach to health, I'm assured that they are set to see further success in the market.”

Lukasz Garbowski, Investment Director at Btomorrow Ventures continued: “Feel has all the ingredients to do exceptionally well in the health and wellness market: an experienced and ambitious management team, strong D2C capabilities and great products that consumers love. We are thrilled to become part of Feel's journey and cannot wait to see how Feel will become a household must-have item across the UK and beyond.”

Sheena Amin, Director of ITV AdVentures added: “I continue to be impressed by the stellar growth that Feel has achieved over the past years, which ITV AdVentures has been able to supercharge through the power of TV advertising. I am excited to continue to support them through this next expansion phase, as they look to strengthen their position in existing markets and bring their quality products and strong brand to new international territories. As a truly innovative digital health startup with both a data-first approach and consumer-centric focus, I am confident Feel will scale successfully to new heights.”

The content of this page is a summary of the law in force at the date of publication and is not exhaustive, nor does it contain definitive advice. Specialist legal advice should be sought in relation to any queries that may arise.

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