Lifesum adds $5M in capital investment from Balderton.
Lifesum, a Stockholm, Sweden-based company providing a healthy nutrition service via a mobile application, announced securing a $5M capital investment round.
The money was provided by British venture company Balderton Capital, from its Balderton Capital’s Liquidity I fund and involves fresh funding as well as a secondary transaction as the VC is buying equity from existing shareholders, mainly early employees.
The company will use the money for growth, building new features, and hiring people in new markets, as it plans to expand its U.S. operations.
Lifesum, founded in 2013 as ShapeUp Club by CEO Henrik Torstensson, provides digital health services via a mobile application. The app is available on Android and iOS and has had about 35 million downloads to date.