Expert DOJO invested in Smartplate after they appeared on Shark Tank with their groundbreaking health tech and we knew immediately we had backed a winner. Today they have breakthrough sales and raised 40% of their current $3.5M series A round in only 24 hours (it will likely oversubscribe).
COVID-19 has shed light on the true state of individuals’ health throughout the world and the health systems designed to support them. Taking the lives of many, but mostly, those with underlying conditions like obesity, diabetes, and hypertension. Now more than ever, these practitioners & their patients need a smart tool to build immunity and reverse disease remotely.
SmartPlate is the world’s first and most accurate food analyzer that combines elegant hardware and intelligent food recognition technology to help users track their food intake automatically and effortlessly. For practitioners, this is the missing “accountability” link to let them know when/if a patient is following their dietary recommendations. All communication is managed via SmartPlate’s HIPAA compliant, telemedicine platform. The data it collects is only shared with practitioners or health coaches only if a user agrees to do so.
Very Recent Traction:
– July 19th, 2020: Generated $66K in less than 24 hours (1st UPW virtual event)
– Signed Distribution/Marketing deal with Tony Robbins (#1 Life Coach, Business Strategist, and Renowned Author)
– In deep discussions with giants (under NDA), will likely lead to an early JV in the coming months (may increase valuation by 3X-4X)
More about the business:
With their portion control device and groundbreaking nutrition formula, SmartPlate users balance blood sugar, boost immunity, lose weight, and prevent or even reverse diseases related to poor nutrition. For example, SmartPlate is 65X more precise at estimating carbohydrates than existing solutions for Type 2 diabetes and is over 4X more efficient than self-reporting, “manual” calorie counting applications. In their first institutional review board (IRB) study, they were able to reverse pre-diabetes and early-onset Type 2 Diabetes in 16 patients (p = <.001). As such, they have been approved for our second IRB Study with Penn Medicine Princeton Health with 100 patients beginning in January 2021.
They have a two-tiered, B2B2C go-to-market strategy via health coaches & practitioners. Starting with Affiliate Health Coaches and wellness industry experts (e.g. Tony Robbins) to generate early revenues & data until the completion of their second IRB study in early 2021. With this evidence-based approach, the company envisions SmartPlate reimbursability by many self-insured employers and health insurance providers by 2023.
SmartPlate has been featured in over 60 major publications & shows such as Shark Tank, Good Morning America, Times of London, Forbes, and many others. Here’s a link to our pitch deck and video presentation for your review.
If anyone would like an introduction to the founders for an investment discussion please contact us HERE