Women in Funding – How to Excel

Award-winning entrepreneur, Melissa Snover, has just closed the largest seed round raised in the UK by a female founder. Melissa raised over £2 million of investment for her tech start-up Rem3dy Health, which launched in May 2019, and is pioneering personalised health solutions using propriety, patented 3D printing technologies.

 

However, being a woman in a male-dominated industry hasn’t always been straightforward. Founder and CEO of Nourished, Melissa Snover, shares her career tips and extensive experience as a record-breaking, female entrepreneur.

 

KNOW YOUR MARKET

With a keen interest in nutrition and a consumer of supplements, when Melissa came up with the idea for her business, she realised she was her own target audience.

 

Melissa says: “It was whilst travelling internationally back in 2018 that I first came up with the idea for Nourished. I used to carry a container of personally selected vitamins, supplements and active ingredients with me when travelling and, on this occasion, I accidentally spilt them all over the floor at airport security. Crawling around in my suit and heels picking them up, I thought there must be a better solution. Working in the tech industry, I was inspired to develop my own 3D printing technology which could combine multiple active ingredients into one personalised product without compromising their efficacy.”

 

Nourished was subsequently launched exclusively into the UK market in October 2019 and offers its customers the benefit of taking all their preferred vitamins and supplements in one edible stack with less hassle, less waste and lower cost than buying and taking them all individually.

 

EMBRACE INNOVATION

The foundations for Nourished were set in motion by Melissa’s first 3D printing food

tech company, Katjes Fassin UK Ltd (aka Katjes Magic Candy Factory).

 

She says: “In 2015, I partnered with the German Katjes family corporation and immersed myself in the world of food technology and 3D printing. Katjes Magic Candy Factory is an innovative, pioneering concept that allows the consumer to 3D print delicious vegan gummy candy in anything from Sweet Selfies and logos, to 3D messages and shapes in just 5 minutes. It was so new then to the consumer market but getting involved in 3D technology has changed my life.”

 

With their first product entry to market, Nourished, Melissa and her team have utilised their patented 3D printing technology and innovative vegan encapsulation formula to create the world’s first truly personalised nutrition product.

 

 

DON’T LIMIT YOURSELF

At 23, Melissa co-founded the financial company Burton Mortgage Services, which she managed to guide to treble-figure growth in its first three years. It’s this background that led her to excel in the consumer market, as well as running a successful business.

 

She says: “Securing funding is no mean feat, but it’s a necessity for any entrepreneur or business owner looking to bring a brand or product to market.”

 

In 2009, Melissa sold her interest in Burton Mortgage Services and redirected her creativity and skills to the confectionery industry, but securing her £2 million funding for Rem3dy Health was boosted significantly by her previous experience in finance.

 

SEEK NEW OPPORTUNITIES

When Melissa isn’t working directly on her own businesses, she is often invited for

speaking engagements around the world, including The United Nations, The Houses of Parliament and UK First Women Conference, as well as interviews with BBC World News and Sky News. Each opportunity has not only led to more business and a network of contacts, but has increased brand awareness too.

 

Melissa says: “Every time I talk about my brand and put myself out there, I’m reaching new audiences and sharing my story. It can seem scary having to speak on live television or stand up in front of thousands of people at an event, but it always leads to bigger things.”

 

HEALTH IS WEALTH

For entrepreneurs, schedules can quickly get hectic and it can feel like there aren’t enough hours in the day but taking care of yourself is the best thing you can do for your business. Melissa believes self-care is important for anyone starting out.

 

Melissa says: “Working in the health industry means taking care of yourself is a known priority, but it’s not always easy when you’re starting your own business! Free time is a rare commodity these days, but I manage to go for a run most days and, when time allows, and of course always take my Nourished stacks!”

 

MAKE WAVES FOR FUTURE GENERATIONS

Melissa’s seed investment round is notable not only for the amount raised, but also because it has been achieved by a female in the tech industry. According to ‘Female Entrepreneurs’ research by Beauhurst, just 7% of tech companies are fully female founded, in comparison to 12% which are founded by a mixed team of male and females and 81% which are fully male founded.

 

Melissa says: “It can be very difficult to navigate the VC and funding ecosystem for anyone, but when you consider the findings of this research, it’s clear that there are still some additional challenges to overcome to give equal opportunities across the board.
“I do, however, feel that we are starting to see a shift in attitudes towards investment in female-first businesses within the investment community and hope that the seed round raised by Rem3dy Group demonstrates that and acts as an inspiration for others.”

 

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