Israeli digital health company Nutrino has raised $8 million in a Series A round from Pereg Ventures, Nielsen Ventures, Gandyr Group, and a number of business angels.
Nutrino develops data analytics tools for nutrition, mostly targeted at people with diabetes and uses AI and machine learning to better understand dietary impacts. It terms this data process as the user’s “FoodPrint”. The Israeli company will invest the new funds in establishing new partnerships with players in the nutrition and food analytics space as well as further developing its food database.
“Our proprietary technology, FoodPrint, uncovers the previously invisible connections between people and their food,” said CEO Yael Glassman. “Nutrino is where data meets nutrition, and as we’ve demonstrated in our work with multinational partners around nutrition and diabetes, the opportunity is vast. This funding round will enable us to significantly expand our commercial reach.”
Pereg Ventures said in a statement that it expects digital health to be worth hundreds of billions of dollars in the next decade.
“With skyrocketing consumer demand for increased information about what they eat and growing health awareness, nutrition data is the largest untapped sector of this industry, and Nutrino is perfectly positioned to address this opportunity,” said Pereg’s Ben Barouch.