ShopWell Labs, Inc., a San Carlos, CA-based maker of a nutrition-driven food discovery platform, closed a $3.4m financing round.
The round, which has raised $11.4m in funding to date, was led by Finistere Ventures, with participation from Fairhaven Capital, Munich Venture Partners, S2G Ventures and ATA Ventures.
The company intends to use the funds to increase investment in partnerships with retailers, food manufacturers, and other members of the food system.
Led by Dr. Elliott Grant, CEO, ShopWell Labs provides a personalized food discovery platform that grades food based on an individual’s age, gender, dietary goals and allergies. A patented algorithm — developed by Registered Dietitians — analyzes the ingredient, nutrition, location and popularity of over 300,000 UPCs to recommend alternatives for shoppers.
The technology, data and analytical tools allow food retailers and manufacturers to understand and respond to shopper behavior, and use personalization and engagement programs to drive loyalty and wellness.
ShopWell has been used in more than 137,000 stores.