Newtopia Gets Seed Funding From BDC Venture Capital
Newtopia Inc. received seed funding from the Business Development Bank of Canada, which made the investment through its Venture Capital division. The financing was completed in partnership with a group of Canadian angel investors, including Newtopia Chairman and Co-founder Dennis Bennie. Newpotia is a personalized health coaching company.
PRESS RELEASE
The personalized health coaching company, Newtopia Inc., announced today that the Business Development Bank of Canada (BDC) has invested seed funding for its next stage of commercialization. BDC made the investment through its Venture Capital division (BDC VC) in partnership with a seasoned group of Canadian angel investors, including Newtopia Chairman and Co-founder Dennis Bennie.
Newtopia is a next generation health platform dedicated to sustainable results. Founded in 2008, Newtopia offers tailored online health plans, products and coaching support that combine nutrition, exercise and behaviour management. Newtopia’s solution incorporates proprietary data management with knowledge gained from genetics research and behavioural psychology to match clients with coaches and deliver individualized health plans and weight management programs.
Newtopia profiles a client’s predisposition for targeted health issues as identified by specific genetic variants. The FTO gene, for example, also known as the ‘fat gene’, is one of the most widely reviewed genetic SNPs (single nucleotide polymorphism). If certain SNP’s are identified by the simple genetic test that can be taken at home, Newtopia incorporates the information when developing a client’s customized online coaching program and natural health supplement regime.
Newtopia CEO and Co-founder Jeffrey Ruby said, “With our presence growing throughout Canada, I am excited to have BDC as an investment partner. Newtopia is making affordable personalized health solutions accessible to a broad market. Our partnership with BDC will help us attract committed entrepreneurs to join our direct sales team and movement toward sustainable, healthy living.”
Brenda Irwin, who is a Partner with BDC VC, adds, “Sustainable solutions are a challenge in the field of health care, but Newtopia is well positioned to profit from the growing trend toward virtual personal wellness coaching and customized health care program management. Their innovative and integrated solutions tap into the wealth of scientific research around genetic variants that highlight genetic predispositions. Research indicates that there is significant potential to build on Newtopia’s weight and wellness platform to deliver long term results.”
“We expect to make a real difference in people’s lives,” comments Newtopia Chairman and Co-founder Dennis Bennie. “Our approach to addressing health problems is limitless. We are positioned to change the quick fix paradigm that dominates the weight loss industry and have plans to expand our service offering by supporting chronic disease management, such as diabetes. Having BDC as a partner should help us meet our growth targets.”
About Newtopia Newtopia is a personalized health coaching company dedicated to sustainable weight loss and healthy living solutions. The company offers personalized plans, genetically tailored products and personal coaching support that incorporate innovative technology to deliver healthy living and weight reduction solutions through a direct sales channel. Newtopia’s programs and products are guideline and evidence based and available online to individuals across Canada. Follow the company on Twitter and Facebook. www.newtopia.com
About BDC As Canada’s business development bank, BDC puts entrepreneurs first. BDC’s Venture Capital division (BDC VC) is one of the country’s most active venture capital investors and is involved at every stage of its investee companies’ development cycles, from seed through expansion. BDC VC focuses on technology-based businesses with high growth potential that are positioned to become dominant players in their respective markets. www.bdc.ca
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