Friday, 2 February 2024, Bengaluru, India
The worldwide pandemic highlighted the desire for health and well-being among people. Venture capital firm Niremia Collective, based in Silicon Valley, is leveraging that and the gender gap in venture capital with its inaugural fund with $22.5 million in funding commitments.
(Image Source: https://www.vcinclude.com/)
The newest female-led launch fund, Niremia Collective, has joined the ranks of New Fare Partners, Curate Capital, Pact, Double Down, and f7 Ventures.
The founders, Naoko Okumoto and Nichol Bradford, first connected as investors in 2018 after working on different projects. Their goal is to promote well-being-focused entrepreneurs in the pre-seed and seed stages.
The Greek word “iremia” denotes a condition of calm and peace, and the initial letter of each founder’s name was combined to create the name Niremia.
According to Okumoto, TechCrunch, “Human happiness and health should be at the center of the world.” We want people to be the best versions of themselves because we are happy beings at birth. Investing in technology allows individuals to realize their full potential.
Okumoto has a lot of experience investing and founding firms in the U.S. and Japan. He worked for significant tech companies for 17 years. Previously, she oversaw U.S. investing and community building for collective impact at Mistletoe Venture Partners, a social impact fund that Taizo Son created. In addition, Okumoto served as the C.E.O. of Amber Bridge Partners, a consulting company that focused on operations, investment, and cross-border business development.
Bradford entered the video game industry and worked at Vivendi Games and Disney Interactive. Bradford also had experience in tech and venture creation. She was a member of the negotiation team for the Activision Blizzard and Microsoft merger while she worked at Vivendi in corporate strategy. In addition, she is the creator of Transformative Tech, which boasts 9,000 members in 72 countries and is referred to as “the world’s largest ecosystem in well-being technology.”
In addition to Shionogi Pharmaceuticals and M.I.X.I. Inc., Mistletoe Venture Partners is one of the new fund’s limited partners, along with other national and international enterprises and institutional investors.
Niremia Collective plans to invest in and offer management resources to fast-growing well-being firms, given that the global wellness sector is expected to reach $8.5 trillion by 2027. The company also aims to support upcoming entrepreneurs and serve as a resource for anyone considering entering the industry.
Bradford stated, “We invest in human purpose and performance as well as mental, social, and emotional well-being.” It’s all technology and human potential. It’s how we grow, heal, and realize our most significant potential as people. Being able to do that requires mental wellness.
From its initial financing, Niremia Collective has already invested in 12 projects. These include DeepWell, a VR/XR wellness platform; Feno, which provides AI-powered oral care services; and Tripp, which focuses on mental health therapy through gaming.
In summary, the completion of Niremia Collective’s inaugural fund at $22.5 million represents a noteworthy achievement in the field of well-being technology. This considerable financial support emphasizes the increasing acknowledgment of technology’s role in improving overall well-being and affirms the trust investors place in Niremia Collective’s vision and competencies.
Looking ahead, it will be fascinating to observe how Niremia Collective’s initiatives shape the landscape of well-being technology. The completion of their inaugural fund not only marks a triumph in fundraising but also heralds the commencement of an exhilarating journey for Niremia Collective in influencing the future of well-being technology. The company’s capacity to utilize this financial support and introduce innovative solutions has the potential to make a positive and transformative impact on both individuals’ lives and the broader well-being industry.
(Information Source: Techcrunch.com)
