M&S and Waitrose partner Zoe eyes US expansion after multi-million pound investment

Waitrose x Zoe whole food supplement
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Nutrition science start-up Zoe, which has formed tie-ups with M&S and Waitrose over the past year, has secured an £11.7m ($15m) investment as it eyes US expansion.

The new funding is understood to have come from New York-based investor Coefficient Capital and will help fuel the brand’s US debut.

It is the second time Zoe has extended its Series B round, following its initial £25m cash injection in December 2022, and a subsequent £2m in March 2023.


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Zoe is best known for its personalised at-home tests that monitors health categories such as gut health, blood sugar sensors and blood fat tests.

However earlier this year it launched its first retail collaboration with M&S in the form of a new Gut shot, before last month rolling out its first-to-market daily whole food supplement exclusively in Waitrose stores.

Last year, Zoe sales rose by almost 390% as demand for nutrition-based products grew, however its pre-tax losses widened from £10.5m to £21m, leading to the company to make a series of redundancies.

Co-founder Jonathan Wolf said the decision was due to the brand “over-expanding” and called it “the most difficult news I’ve had to share since we started Zoe”.

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M&S and Waitrose partner Zoe eyes US expansion after multi-million pound investment

Waitrose x Zoe whole food supplement

Nutrition science start-up Zoe, which has formed tie-ups with M&S and Waitrose over the past year, has secured an £11.7m ($15m) investment as it eyes US expansion.

The new funding is understood to have come from New York-based investor Coefficient Capital and will help fuel the brand’s US debut.

It is the second time Zoe has extended its Series B round, following its initial £25m cash injection in December 2022, and a subsequent £2m in March 2023.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


Zoe is best known for its personalised at-home tests that monitors health categories such as gut health, blood sugar sensors and blood fat tests.

However earlier this year it launched its first retail collaboration with M&S in the form of a new Gut shot, before last month rolling out its first-to-market daily whole food supplement exclusively in Waitrose stores.

Last year, Zoe sales rose by almost 390% as demand for nutrition-based products grew, however its pre-tax losses widened from £10.5m to £21m, leading to the company to make a series of redundancies.

Co-founder Jonathan Wolf said the decision was due to the brand “over-expanding” and called it “the most difficult news I’ve had to share since we started Zoe”.

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