Cypriot nutrition app Simple gets $5 million to expand in Europe and South America

Simple tech.eu
annelise@tech.eu

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)

Share this:
Share on linkedin
Share on facebook
Share on twitter

Get exclusive access to news, data and actionable insights on the European Tech innovation ecosystem(s)

By subscribing to Tech.eu, you gain instant access to curated European technology news, market intelligence and interviews with leading startup founders, investors and more. Sign up now in under a minute to deepen your knowledge on the European Tech innovation ecosystems on a daily basis.