Wellbeing platform targets US market
● Venture from serial entrepreneur undertaking £1m seed funding round
A Scottish entrepreneur is set to launch a wellbeing platform, harnessing the expertise of executives who have worked for Fanduel, Asos and Starbucks, and with a £1 million seed funding round in hand.
Jon-paul Kitching, who founded music and lifestyle media brand Clash and creative agency Public Worldwide, is behind Alyke – described as a “people-powered healthcare and wellbeing technology platform, dedicated to simplifying consumer wellness”.
It is targeting the US, the largest wellbeing market globally, from a Scottish base. And it will focus on personalised digital healthcare and lifestyle branded products, initially vitamin-rich drinks delivered direct to consumers.
Alyke plans to develop additional products over time and locate a small “but highly experienced” marketing team in the US supported by a Scottish headquarters.
The venture’s advisors include Fanduel co-founder Lesley Eccles; former Starbucks director of food for Europe, the Middle East
0 Kitching said the global market for functional beverages is ‘exploding’
JON-PAUL KITCHING
and Africa, Kate Skeritt; and formeramazonukmanaging director and Asos chairman Brian Mcbride.
A £1m seed funding round is now in process, with Alyke speaking to investors in the UK around investment to fund accelerated product development, maintain first-mover advantage, and support the marketing and user experience functions.
Kitching, chief executive and co-founder of Alyke, said the global market for functional beverages is “exploding” due
to a new generation of healthconscious consumers who are seeking a more personalised experience, and he sees huge opportunity to disrupt growth segments of the industry. “We feel passionate about building a base from Scotland with access to a high quality talent pool, fantastic universities and government support.”
Alyke centres around a subscription model that allows consumers to develop their own unique blends of functional flavoured beverages, sourced from ingredients shipped directly. The community-led proposition will also give committed subscribers and brand advocates the opportunity to become stakeholders in the business.
Kitching added: “Consumer needs have diversified, they look for committed brands that deliver authentic products, relevant health benefits, nutritional value and transparency. We are in one of the fastest-growing segments of the market and although there are similar propositions, no one is doing what we are doing.
“There is a huge appetite from investors for online wellness boutiques that seek to bypass traditional retail channels in favour of more agile propositions for an increasingly digital generation.”
Mcbride said: “Real-time customised adaptability and making a personal connection between brand and customer is crucial for any new consumer brand and Jon-paul and the Alyke team are in tune with how this space is going to play out.”
Alyke co-founder and chairman Andy Bottomley commented on the £1m seed round, saying it “helps us to build out the back office function, recruit key personnel and be in position to launch a fully scalable platform from launch in the first half of 2019”.
“We feel passionate about building a base from Scotland with access to a high quality talent pool, fantastic universities and government support”