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FoodMarble

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The future of digestive health management

108%
 - 
Funded 22 Dec 2020
€2,300,002 target
€2,510,130 from 339 investors
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Business overview

Location Dublin 2, Ireland
Social media
Website foodmarble.com
Sectors Healthcare Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 574999
Incorporation date 12 Jan 2016
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Investment summary

Type Equity
Valuation (pre-money) €9M
Equity offered 21.65%
Share price €0.9425
Tax relief

EIS

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Business highlights

  • Launched late 2018, sold over 20,000 devices D2C
  • Launching remote-monitoring telehealth service in US
  • 2 ongoing clinical trials, patents in UK and US
  • Enterprise Ireland High Potential Startup
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Key features

  • Secondary Market
  • Seedrs nominee min. €11.31 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 339
  • Discussion
  • Documents

Idea

Introduction

FoodMarble is a digestive health tech company and has developed a first-of-its-kind personal digestive tracker. The FoodMarble AIRE is a handheld, wireless breath analysis device which, combined with its connected app enables users to measure how well they are digesting different types of food. This helps to overcome problematic digestive symptoms. The core target market is people with persistent digestive problems such as Irritable Bowel Syndrome (IBS) which affects as many as 15-20% of the population and can have a profound impact on quality of life and can make eating no longer enjoyable. FoodMarble AIRE takes the guesswork out of eating and allows people to identify their optimal diet.

Substantial accomplishments to date

• Pre-orders: Before the initial launch, over 8,000 pre-order backers pre-paid a total of almost £1m to be the first to get a device.

• Sales: Almost 20,000 customers / purchases so far across UK, Ireland, US, Australia, New Zealand and mainland Europe.

• Existing Validation: Independently clinically validated by leading digestive health research group out of Auckland University.

• Future Validation: Clinical trial ongoing at Johns Hopkins (Maryland, US), one of the top research hospitals in the world, to validate our next-generation clinical offering.

• Clinical trials: Pilots with 2 leading London hospitals.

• Advisors: High quality clinical advisory board established with some of the top US gastroenterologists on it.

• Strong innovation pipeline including a 2nd generation device and planned clinical device and subscription service.

Monetisation strategy

The key sources of revenue to date are sales via online channels, including foodmarble.com and amazon, as well as some retail customers such as Best Buy in Canada. In addition, FoodMarble has recently onboarded our first clinical customer in the UK and is set to expand clinical sales to the US with a focus on gastroenterologists.

There is also a focus on significantly expanding the online sales channels and developing further retail sales opportunities in Europe and the US.

With future progress FoodMarble will look towards an additional subscription model.

Use of proceeds

With this round of investment:

We’ll launch our clinical offering in the US and UK. Breath analysis has been used in clinical practice, especially by gastroenterologists, for decades. However, this has been performed using bench top devices which are expensive, require specialist skills and are unsuited for use in the home. MedAIRE is the new FoodMarble device being developed for clinicians.

We’ll complete the 2nd generation device, which will offer a deeper analysis of the breath. It will offer enhancements in terms of ease of use, longevity and will be able to detect further gases of interest on the breath.

We’ll leverage AI to provide new services for our users. This will be breakthrough technology for someone with digestive health issues and could make our app and this subscription service a life-time companion for the user.

We’ll build out our team to become the leader in tech-enabled digestive health! We plan to add resources to our sales, marketing, product development, supply chain & logistics and clinical teams.

Investor perks

Please note the business is offering the following investor rewards:

- 25% off to anyone who invests between £1,000 and £2,499

- 50% off to anyone who invests between £2,500 and £4,999

- FREE to anyone who invests £5,000+

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key Information

Share classes

The company currently has 3 classes of shares: Preferred Shares, Ordinary shares and B Ordinary shares. Seedrs investors will receive Ordinary Shares in this investment round.

The rights attached to the share classes are as follows:

Preference Shares:

· Full voting rights
· 1.5x non-participating liquidation preference
· Anti-dilution rights

Ordinary Shares:

· Full voting rights
· No preference and no anti-dilution rights

B Ordinary Shares:

· No voting rights
· No preference and no anti-dilution rights

Round size

Please note that the terms of this investment round allow for a total round size of up to EUR 3,000,000.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from €9,009,499

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This shareholding type is available and the minimum investment required to select it.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.