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Mar 10, 2018, 06:47pm EST |

Ancient Nutrition Raises $103 Million From 100+ Investors To Heat The Bone Broth Market

Christina Troitino

I write about the business of food & drink.

This article is more than 3 years old.

Ancient Nutrition, a bone broth protein and collagen supplement maker, has raised $103 in funding... [+] from an impressive pool of 100+ influential investors from the health foods and wellness industries. Its recent growth represents 40%+ of the growth to the protein, collagen and gut health market.

Ancient Nutrition

Ancient Nutrition, a bone broth protein and collagen supplement maker, has secured $103 million in funding through strategic minority investment led by VMG Partners. This funding is also attributed to Hillhouse Capital, ICONIQ Capital and 100+ influential investors across the health food and wellness industries. The company plans to use this funding to "elevate the current team's resources and company growth."

This massive pool of funding has been further hyped by its association to its impressive investors, including:

Jillian Michaels
Ido Leffler (Co-Founder of Brandless.com)
Joey Gonzalez (CEO of Barry's Bootcamp)
Gary Hirshberg (Co-Founder and Chairman of Stonyfield Farm)
Michael Kirban (Co-Founder and CEO of Vita Coco)
Terry Tierney (CEO of Daiya)

This list of industry heavyweights may not be fully surprising considering the high profile backgrounds of Ancient Nutrition's own founders. Co-founded in 2016, Ancient Nutrition is led by Jordan Rubin and Dr. Josh Axe. Rubin previously founded Garden of Life, the leading brand in the U.S. natural supplement industry which was acquired by Nestlé in 2017. Rubin also wrote New York Times best sellerThe Maker's Diet. Dr. Axe is a natural medicine doctor and the creator of DrAxe.com, one of the most trafficked natural health websites in the world, receiving upwards of 17 million unique visitors monthly. Dr. Axe is also the author of Eat Dirt, a best selling book about leaky gut syndrome.

Dr. Axe co-founded Ancient Nutrition in 2016. Ancient Nutrition, a bone broth protein and collagen... [+] supplement maker, has raised $103 in funding from an impressive pool of 100+ influential investors from the health foods and wellness industries. Its recent growth represents 40%+ of the growth to the protein, collagen and gut health market.

Ancient Nutrition

Jordan Rubin co-founded Ancient Nutrition in 2016. Ancient Nutrition, a bone broth protein and... [+] collagen supplement maker, has raised $103 in funding from an impressive pool of 100+ influential investors from the health foods and wellness industries. Its recent growth represents 40%+ of the growth to the protein, collagen and gut health market.

Ancient Nutrition

Ancient Nutrition produces a line of bone broth protein and collagen powders and capsules. Its trademarked Bone Broth Protein is derived solely from chickens. Although their sourced chickens are compliant with the current definition of free-range, its website states that they are seeking stronger regulations on this definition. While its products are non-GMO, the company is currently testing whether its products are also free of antibiotics and growth hormones, as well as working to achieveUSDA Certified Organic standards. Ancient Nutrition is currently selling at retailers including Whole Foods and Sprouts.

This round of funding represents a vote of confidence for the developing bone broth market. Although still a niche product, bone broth products have seen impressive sales growth in recent years . According to SPINS, US retail sales of bone broth tripled to $19.7 million in 2016. Ancient Nutrition has meaningfully contributed to its recent growth, experiencing a 266% growth CAGR between 2013 - 2017 and representing 40% of growth for the protein, collagen and gut health category during this period. Other companies in this space include bone broth maker Kettle & Fire and Bulletproof with its collagen powder and recent Whole Foods debut of its ready-to-drink collagen coffee.

Ancient Nutrition

So why is the bone broth market coming to a seeming boil? Perhaps it is because bone broth products are a convenient and high protein food source. A 1-scoop serving (28 grams) of Ancient Nutrition's Organic Bone Broth Sweet Greens powder contains 20 grams of protein (40% DV). Consumers are also sold on its claimed health benefits, which according to DrAxe.com include support for joints, bones, skin hair and nails, as well as amino acids and electrolytes. Its website's footer notes that its statements have not been evaluatedby the Food and Drug Administration nor are intended to diagnose, treat, cure or prevent any disease.

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Christina Troitino

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