Be levels, a leading company in the health sector specializing in nutritional and sports supplements based on natural active ingredients, has announced that Axon Partners Group has acquired a minority stake valued at €6M.

Founded in Madrid in 2020 during the pandemic by serial entrepreneur Javier Echanove, Dr. Antonio Hernández (founder and medical director of the Keval clinic), and Jon Prada (former Google executive who joined the founding team in the early stages), Be levels currently employs 15 people. With the motto “A life worth living,” Be levels was created to enhance the lives of those who prioritize their health through nutrition, rest, and exercise. Since its inception, the company has experienced strong triple-digit growth and currently boasts an annual turnover exceeding €7M. Notably, the company has remained profitable since the end of its second year and has reached its current status with minimal external funding.

Be levels offers a comprehensive range of proprietary formulas designed to achieve various wellness goals, from improving sleep, stress management, and cognitive focus to addressing more specific needs like enhancing female fertility and hormonal regulation through natural dietary supplements. The sports line of Be levels caters to individuals seeking to achieve their best version, offering supplements that provide energy and promote better recovery. The company also provides free professional advisory services to support individuals on their journey toward holistic health. As a result, Be levels enjoys an average customer rating of 9.2/10, with more than 1,000 health professionals actively recommending their products.

Be levels’ supplements target a potential market of €2Bn in Spain. The growing interest in health care and the pursuit of non-pharmacological alternatives to address health conditions, a trend accelerated by the pandemic, is a major driver of the sector. Furthermore, the company is deeply committed to education, offering free courses and webinars for professionals and consumers alike on its website.

This investment marks Axon’s third deal this year under its Growth Equity strategy, aligning with its investment thesis of backing innovative companies with exceptional founders, high growth, and efficient use of capital. The investment comes from the Axon Innovation Growth Fund, a vehicle focused on European scale-up companies, which has also invested in firms such as Metricool, Embention, and Dogfy Diet.

Javier and Jon, founders of Be levels, stated, `Since founding Be levels, we have tripled our business year after year, achieving this growth while remaining profitable. Through this partnership with Axon Partners Group, we aim to continue building a brand that leads our category. It is truly exciting to work every day to improve people’s lives, and we feel that what we have achieved so far is just the beginning. The initial decision to innovate and create unique products alongside Dr. Hernández’s team was crucial, allowing us to see how thousands of people have found a great ally in Be levels for their daily lives.´

César Gimeno, Senior Manager at Axon, commented, `We are thrilled with the opportunity presented by Javier, Jon, and Antonio to be part of Be levels’ inspiring journey. The natural dietary supplements sector is experiencing strong growth, and Be Levels is ideally positioned to become a prominent leader. We look forward to leveraging our experience in high-growth companies to help Be Levels achieve this objective.

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Bridgepoint has today announced that it will continue to back Oris Dental, a leading provider of dental care services across the Nordic region.

Following four years of support through the Bridgepoint Development Capital (BDC) III fund – a franchise focused on investing in lower mid-market businesses across Europe – Oris has more than trebled in size, whilst maintaining its position as a quality leader known for its dentist-centric culture. During the partnership, Oris has pursued an accelerated M&A agenda, has entered both the Swedish and Danish markets, and delivered above-market organic growth.

The Nordic dental services market remains highly fragmented, and significant opportunities exist for Oris to continue its journey of growth, focusing on clinical quality and operational improvements. As such, Bridgepoint has agreed to provide further funding to Oris via its BDC IV fund – which now becomes the new lead investor – continuing the two firms’ partnership to create a leading Nordic dental services platform. In addition, Oris and BDC are pleased to welcome Swedbank Robur Alternative Equity as a new investor and partner in the business going forward.

Eirik Aasland Salvesen, Chief Executive Officer at Oris Dental, said:

“Since 2020, Bridgepoint and Oris have enjoyed a successful partnership, driven in large part by Bridgepoint’s strong support of our quality-focused ambitions and dentist-centric culture. We are excited to continue to benefit from BDC’s backing as we look to further establish Oris’ position as a premier provider of dental services in the Nordic region.” 

Johan Gustafsson, Partner at Bridgepoint, said:

“With its clear focus on consistent, high-quality dental care and attracting, developing and retaining talent, Oris is clearly differentiated as a leader in its sector. The business has grown rapidly since our initial investment, and we are proud to continue to support the company in building out a leading Nordic high-quality dental platform.”

Financial details of the transaction are not disclosed. The transaction closed on 12 September 2024.