Romanian lifestyle and nutrition coach Cori Gramescu has drawn a EUR 200,000 financing for her diet and well-being platform yummdiet.com.
Tech investor Andrei Pitis and software producer Softbinator Technologies led the round.
Yummdiet.com will use the money to increase its market share in the markets where it’s already active (Romania, UK, Germany, and France) and expand to new markets.
The platform aims to reach 35,000 clients and EUR 1 million annual revenues by the end of 2021.
Yummdiet.com uses proprietary technology to generate personalized diets automatically. It also has real-time coaching and weight loss support sessions. It offers its clients food replacement options, video training for home, and recipes that use healthy ingredients.
“Yummdiet.com already has over 1,800 members in the country and abroad who have paid a subscription and followed the diet. Over 40% of them continued the diet in the second month. We try to dissociate ourselves from the culture of aggressive diets that aim to lose weight at any cost, and this can be seen in the retention rate of yummdiet.com, which is 20% higher than the average of regular diets worldwide,” said yummdiet.com founder Cori Gramescu.
“When I decided to invest in yummdiet.com, I was most attracted by the fact that it already had international clients. My and Simple Capital’s involvement in yummdiet.com is in line with our investment thesis, which focuses on projects aimed directly at the international market,” said Andrei Pitis, founder of Simple Capital.
Pitis is one of the best-known Romanian tech entrepreneurs. He funded local taxi app Clever Taxi, sold to Daimler, and launched smartwatch producer Vector Watch, sold to Fitbit. Softbinator Technologies, the other investor in yummdiet.com, is a Romanian tech company founded by local entrepreneur Daniel Ilinca.
(Photo source: the company)