Osborne Clarke has advised MA Ventures on its investment in Lykon. HealthTech startup Lykon has raised EUR 6.4 million in its Pre-Series A funding round. MA Ventures used the Redstone platform, a fast growing VC service provider from Berlin. The new funds will be used to continue to improve the customer journey and develop the technology. A Series A financing round is envisaged for the end of 2021/early 2022.
Leading the round were MA Ventures, the venture capital fund of the Migros Aare cooperative, and RI Digital Ventures, the investment company of Ippen Digital media group. Also joining this round were existing investors, including Patrick Schmidt (Co-CEO Global Fashion Group).
"The investment by MA Ventures shows the rapidly growing importance of individualized nutrition in the health market," said Dr. Tim Reinhard, Partner Osborne Clarke and Head of life sciences and healthcare group Germany.
Lykon is Germany's market leader for personalized nutrition concepts based on certified blood and DNA tests. Supported by machine learning and artificial intelligence, Lykon provides users with customized nutritional recommendations, recipes, products and a guidance for better health. Benefiting from people' increased awareness of health issues and increased openness to self-testing, in recent months the start-up has substantially expanded its customer base.
The team that advised MA Ventures was led by Maximilian Vocke (VC / Corporate) and consisted of Dana Alpar (VC / Corporate), Dr. Robert Rentsch and Kamissa Kruse (both Employment), Dr. Tim Reinhard and Konstantin Sitte (both Healthcare), Benjamin Schaum, Dr. Christian Woger and Adrian Schneider (IP/IT/Data) and Dr. Jens Wrede (Tax).