Victoria healthtech venture VitaminLab closes Series A

Plus, the winners from the Greater Victoria Business Awards.

Author

Allison Gacad
May 10, 2023

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Welcome to this week’s Midweek Memo, brought to you by COAST. In this issue, meet the made-in-Victoria startup that’s set to grow across the continent, celebrate the city’s business leaders, and find out who’s taken on new gigs at local tech institutions.

-Allison, @allisongacad

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Local startup VitaminLab eyes North American expansion

VitaminLab, a healthtech company developing personalized supplements, closed a Series A investment round co-led by Canadian healthtech venture fund Nimbus Synergies and DSM Venturing, the corporate startup arm of multinational health and nutrition corporation Royal DSM.

The company creates personalized supplements for individuals, using data points such as one’s health history, blood test results, and DNA. A proprietary process formulates a unique vitamin for each person, which is sold direct-to-consumer via e-commerce.

"Our mission is to redefine the status quo and unlock better health outcomes by transforming how we take vitamins through tailored and truly unique formulas," said Anton Solonnikov, CEO of VitaminLab. "This financing allows us to extend our leadership position by further investing in our technology and expanding our sales and marketing into the practitioner market and new areas of growth."

Solonnikov worked as a pharmacist for over 10 years before founding VitaminLab. The company now staffs over 40 employees, and formulates, tests, and produces its products in Victoria.

"VitaminLab's disruptive approach is revolutionizing the personalized nutrition industry and we are thrilled to continue supporting its positive impact on consumer health," said Paul Geyer, CEO of Nimbus Synergies.

The funding will expand the company’s facilities and automation, as well as scale its go-to-market strategy across North America.

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📰 More Victoria innovation news

🏔️ Making the outdoors accessible: From May 26 to 28, Redbrick, a local portfolio of tech companies, will participate in a fundraising event organized by Victoria non-profit Power to Be, where participants team up to cumulatively climb the equivalent of Canada’s highest mountain, Mt. Logan. Check out the fundraising page.

🏆 Making Victoria proud: The Greater Victoria Chamber of Commerce recently handed out its 2023 Greater Victoria Business Awards, including to the period care startup Joni, which took home the Innovation Prize. Hear from the list of finalists and winners.

🇨🇦 Making national impact: Julie Angus, CEO and founder of Open Ocean Robotics, was voted as a Canadian Visionary by Destination Canada. Learn more about the list of visionaries.

👩🏻‍💼Victoria tech moves

Major personnel changes, including promotions, hires, and departures:

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🕴️ Tech jobs of the week

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