Nutrium raises €4.25 million Seed round led by Indico

Dear Friends and Supporters,

We are super happy to announce a very fit investment into Nutrium, a digital health platform that will become your best resource to lose those extra confinement kgs. Stay healthy, eat well and beat this second wave!

Stephan Morais
Managing General Partner
Indico Capital Partners

The leading nutrition platform will reinforce its presence across Europe and the US.


Braga, 29th of October 2020 - Nutrium, the digital health startup which is re-writing the future of clinical nutrition by facilitating and promoting professional nutritional monitoring, has just announced a €4.25 million Seed round led by Indico Capital Partners. The company also welcomes the Social Innovation Fund (SIF) as a new investor, in addition to further participation from all existing investors.

Since its Pre-Seed funding round in October 2017, Nutrium has significantly developed its product and commercial strategy. As a result, Nutrium is now offering the most complete and fastest growing professional nutrition software available worldwide, currently supporting more than 80,000 nutrition professionals and 800,000 patients in more than 40 countries. 

Nutrium is tackling one of today’s major social problems, such as poor diet and related diseases. With the Nutrium platform, millions of patients will experience the most integrated and effective nutrition counseling service which will combine professional advice, continuous monitoring and seamless access to commercial products.

André Santos, CEO and Co-founder of Nutrium commented:  “We are very pleased to welcome Indico Capital Partners as our investors. Their experience, network and ambition will certainly be key for Nutrium to reinforce its position in the global clinical nutrition market. Also, it is with great pride that we see our current shareholders significantly reinforce their confidence in our team and we are very happy that the Social Innovation Fund has joined this round. We are moving closer to our vision of enabling the improvement of eating habits for millions of people globally.”

Stephan Morais, Managing General Partner at Indico stated that: “Nutrium will become a full fledged platform bringing together nutritionists, patients, products and wellness data that will enable healthier and happier lives. We are pleased to back this jointly developed vision with capital and knowledge.“

Marco Fernandes, President at PME Investimentos commented: “The Social Innovation Fund is fully aligned with the vision of Nutrium and we believe the impact of the digitalisation of the nutrition industry can have a tremendous positive impact globally. “

Existing investors including PRIMAVERA - BSS, Portugal Ventures and SBS StartupBraga all participated in the round. José Dionísio, Co-CEO of PRIMAVERA BSS noted that: "We backed Nutrium right at the start, when it was a group of young entrepreneurs with a great vision in a few slides. We are happy to have believed our gut feeling trusting their purpose of changing the world through better nutrition.”

Rui Ferreira, Vice President at Portugal Ventures stated that: “In 2017, when Portugal Ventures invested in Nutrium’s pre-seed round, the company was mainly present in two markets. Today, Nutrium operates in more than 40 markets, having increased its turnover exponentially. We are proud to accompany Nutrium's international expansion, continuing to contribute to the acceleration of this unique business in the field of nutrition platforms and nutritional advice.”

With this investment round, Nutrium plans to double the team size in the next 24 months in order to focus on the development of the platform development and expand global sales. The expansion plan will focus on reinforcing the presence in markets like Spain, France, Italy, USA and the UK where the company already has a strong customer base.

For more information please review:
What are the Principles for Responsible Investment?

About Indico Capital Partners

Launched by Indico Capital Partners, the Indico Capital Partners VC I fund is dedicated to early stage tech start-ups. The management team is composed of Stephan Morais, Ricardo Torgal and Cristina Fonseca. With commitments totaling 54 million euros, the fund’s objective is to find, invest and capitalize on the most promising Iberian start-ups, investing between 150 thousand to 5 million euros. Indico Capital Partners is also a signatory of the Principles for Responsible Investment.

About FIS

FIS is a financial instrument set up within the scope of the Parceria Portugal 2020 Agreement, entered into by the Portuguese Republic and the European Commission, funded by the COMPETE 2020 Operating Program through European Structural and Investment Funds, from the European Social Fund.

About Portugal Ventures

Portugal Ventures is a state-owned venture capital firm that invests in startups with global ambition. It invests in startups that have registered offices or business in Portugal operating in the Digital, Engineering & Industry, Life Science and Tourism sectors. Since 2012, Portugal Ventures has invested 146 million euros in more than 130 new companies.

Horizon 2020, EFSI and Portugal Tech

Indico VC Fund I is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Funds for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. It is also co-financed by Fundo de Capital e Quase Capital (FC&QC) managed by IFD - Instituição Financeira de Desenvolvimento, S.A. through the Portugal Tech facility managed by the European Investment Fund (EIF).

Copyright © 2020 Indico Capital Partners, All rights reserved.

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