Squared Circles, a venture incubator, has successfully raised $40 million in a Series A funding round led by private equity firm L Catterton. This funding will support the launch and scaling of at least five health and wellness brands over the next three years. The initiative aligns with a growing consumer interest in wellness, as highlighted by a McKinsey report indicating that 82% of U.S. consumers prioritize wellness. Squared Circles, founded by Alexander Gilkes, Osman Khan, and Lukas Derksen, has a history of investing in and exiting successful ventures such as Nutrafol, a hair wellness company, and Magic Molecule, a skin-healing solutions brand.
One of the key focuses of Squared Circles’ new projects is the development of nutritious food products tailored for GLP-1 users. GLP-1, or glucagon-like peptide-1, is a hormone involved in the regulation of appetite and insulin secretion, making it a significant target for health and wellness products. In addition to GLP-1-focused products, the incubator plans to introduce functional medicine for children, sustained energy and cognitive function initiatives, and whole-body health solutions for men. The venture studio employs an AI-enabled playbook to expedite product launches and leverages bioscience intellectual property to create innovative and sustainable consumer products.
Image Credit: Squared Circles