FoodMarble, an Ireland-based digestive health tech company, is now seeking to raise €2.3 million through its recently launched equity crowdfunding campaign on Seedrs. Founded in 2016, FoodMarble has created a personal digestive tracker, AIRE. According to FoodMarble, AIRE helps its users who experience digestive discomfort track how they respond to different foods.
“AIRE is a hand-held, affordable breath analysis device and associated app that is based on techniques used in gastroenterology departments around the world. The FoodMarble AIRE helps people optimize their diet for their unique digestive system.”
FoodMarble further revealed that its core target market is people with persistent digestive problems such as Irritable Bowel Syndrome (IBS) which affects as many as 15-20% of the population and can have a profound impact on the quality of life and can make eating no longer enjoyable. FoodMarble AIRE takes the guesswork out of eating and allows people to identify their optimal diet.
“The key sources of revenue to date are sales via online channels, including foodmarble.com and amazon, as well as some retail customers such as Best Buy in Canada. In addition, FoodMarble has recently onboarded our first clinical customer in the UK and is set to expand clinical sales to the US with a focus on gastroenterologists. There is also a focus on significantly expanding the online sales channels and developing further retail sales opportunities in Europe and the US.”
Funds from the Seedrs campaign will be used to continue the development and growth of FoodMarble and its products. The company is offering 20.34% in equity at a €9 million pre-money valuation. So far, the funding round has raised more than €2.2 million from nearly 100 Seedrs investors.
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