Simple, a ‘mindful nutrition’ app out of Cyprus, has secured $5 million in Series A funding at a $42 million post-money valuation. The round was co-led by Target Global and Palta, the co-founding company behind Simple, with participation from S16 Angel Fund and Supernova. The app encourages intermittent fasting, a disciplined (and mindful) approach to eating that promotes long term health benefits. The product is similar to the German app Fastic, which also raised $5 million just two months ago. Simple says its app (which is localised in English, Portuguese, Spanish, Italian, French and German) surpassed 6 million downloads in one year.
Founded in 2019, the company has raised over $8 million to date and plans to use the latest investment to expand throughout Europe and enter the South American market. Photo: co-founders Mike Prytkov (CMO) and Alex Ilinskiy (CEO)