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HBAN Angels Lead $ 1.2 Million Investment Round in FoodMarble

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The Halo Business Angel network has helped Dublin start-up FoodMarble raise a total of € 1.2 million as part of a funding round.

The new funds will strengthen the company’s research and development capabilities and support its expansion plans in the United States and Canada.

FoodMarble is a personal digestive breath analyzer, which helps people with digestive issues such as irritable bowel syndrome (IBS) identify specific foods that might be triggering symptoms.

This gives them a clearer picture of which foods to avoid.

Linked to a smartphone app, the Digestive Breath Analyzer detects and tracks foods in real time that impact a user’s bacterial fermentation levels.

More than 15,000 devices have been sold worldwide to date. In 2019 – FoodMarble’s first year of activity – its turnover exceeded 1 million euros.

The company said it has recently seen an increase in demand from hospitals.

He said that since Covid-19 closed some testing facilities, clinicians in the US, UK and Ireland have contacted FoodMarble to get devices for patients, reducing backlog of patient lists. wait cost-effectively and reduces the risk of patients requiring additional treatment.

By the end of 2021, FoodMarble expects its revenue to have quadrupled to € 4 million, fueled by expansion into the United States and Canada. Its device is expected to launch in Canadian Best Buy stores this month.

Aonghus Shortt, co-founder and CEO of FoodMarble, said that with its expansion into the United States, it is continually innovating to ensure it maintains its position as the market leader in personal breathing testing devices.

“With the support and guidance of our business angels, we are on track to achieve a turnover of € 4 million by the end of 2021”, he added.

HBAN’s Niamh Sterling said FoodMarble’s impressive sales in its first year of trading immediately impressed its investors. By uncovering a gap in the global market, the potential for growth is enormous.

“The investment of business angels is extremely valuable for start-ups like FoodMarble, which have an eye on international expansion. Their experience in the multinational industry allows them to share ideas and connections that can be transformative for a new business, ”Ms. Sterling said.

“This has already opened FoodMarble’s doors to the US market and supports their continued innovation,” she added.

HBAN is an all-island organization responsible for promoting business angel investments and is a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland.



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