Nectar, a New York-based provider of an allergy care platform, raised $16.5m in Series A funding.
The round, which brought total equity raised to over $24m, was led by Harmony Partners, with participation from Juxtapose and Obvious Ventures.
The company intends to use the funds to invest in three key areas in 2023, scaling its virtual care platform nationwide, launching its first physical location to comprehensively treat allergies, and initiating clinical studies.
Led by CEO Kenneth Chahine, Nectar is building a vertically-integrated platform for allergies, including a hybrid virtual and physical clinic model, compounding pharmacy, lab testing facility, and an allergist physician network to align incentives and deliver customer experiences. The company offers custom-formulated drops for under the tongue, delivered right to patients’ homes. The dosage and formulation of the treatment come from patent-pending protocols that help a patient’s body tolerate their allergen triggers over time through a process called Sublingual Allergen Immunotherapy, training their immune system not to trigger an allergic reaction.
FinSMEs
20/12/2022