Most of these supplements have no scientific backing, and the market is being flooded. This is where Bioniq comes in.

Bioniq is a personalised supplements company that uses real biochemical data from blood tests to create custom supplement formulas tailored to each individual’s unique needs. Still don’t believe the hype? Bioniq is backed by sports stars such as Cristiano Ronaldo and Diogo Dalot.

“The idea is simple: most people take generic vitamins without knowing what their body actually needs. We’re changing that by offering a science-backed, data-driven approach to supplementation that’s personal, effective, and easy to integrate into daily life,” explained Vadim Fedotov, CEO and Founder of Bioniq.

We originally spoke to Fedotov at the end of 2023, and since then the company has been on a whirlwind of a journey, so we thought it was about time to check back in.

What’s happened since we last spoke?

A lot has happened in the last year and a half since we last interviewed Bioniq, and the company has grown massively.

Fedotov explained: “In the summer of 2024, we successfully raised a $15 million Series B round. This funding was directed to product development and global laboratory network integrations. It has also supported our strategic expansion across the US and the Middle East, helping us scale our operations, grow our team, and reach new markets.”

As previously mentioned, Bioniq has gained some all-star investors: “We welcomed new high-profile investors – football stars Cristiano Ronaldo and Diogo Dalot joined our cap table … We’re proud that such global icons not only use our products but also believe in Bioniq’s long-term potential. Their support has been a major driver of our growth – elevating our valuation to $82 million and amplifying our brand visibility. Backing from figures like Cristiano and Diogo carries immense influence, strengthening our reputation and earning the trust of audiences worldwide.”

Alongside business expansion and funding, Bioniq has also been growing its product line. “We rolled out several major product updates. Most notably, we launched Bioniq Build Your Own, a new hyper-personalised product that allows members to create their own supplement formulas.

“Earlier this year, we launched the Bioniq CORE product line. This range is designed to support six essential pillars of health: Sleep, Recovery, Performance, Longevity, Mind, and Glow. It features pre-mixed granular formulations in mid-sized organic capsules, optimised for nutrient absorption. Each formula targets a specific wellness goal, making it easy to incorporate into any daily routine.”

Back to the beginning

Bringing it back to the beginning, the startup was founded in London in 2019, and has gradually expanded by opening offices in major cities around the world, and is now operating in 13 countries.

The inspiration for the founding of the company can be attributed to Fedotov coming from a sports family, himself having an eight-year basketball career behind him, and his father was a well-known tennis player. From his professional sports background, he became passionate about the recovery and rehabilitation process.

“While playing for the Buffalo Bulls, I pursued a business degree at university. After yet another sports injury, I realised my time in professional athletics would be limited.

“By the time I was around 30, I began experiencing brain fog, fatigue, and an overall sense of feeling unwell without any clear reason. Blood tests came back 'perfectly healthy', but I knew something wasn’t right. That’s when I decided to take matters into my own hands and began exploring biohacking and supplements.”

His personal journey led to the creation of Bioniq: “It started as a solution to my own health challenges, and evolved into something much bigger. Once I found answers for myself, I realised I could help others too by making truly personalised, data-driven health solutions both actionable and accessible.”

Discussing the growth of Bioniq’s technology, Fedotov explained: “Over the years we've developed unique formulas for more than 300,000 users and built a proprietary database containing over six million biochemical data points. This vast and diverse data set enabled us to expand our product line and introduce a solution based on Bioniq’s patented algorithm, which cross-references user quiz responses with real-world blood test results to create highly personalised formulas.”

Growth of health and wellness trends

The health and wellness industry globally is currently valued at over $177 billion, with a projected CAGR of 9%, and the broader health and wellness industry is expected to reach $9 trillion by 2028.

Fedotov commented on this growth: “Interest in healthy living, natural beauty, and overall wellness has surged exponentially. This growth has fuelled innovation across the sector – from the rise of wearables that track physical performance and body metrics, to advanced diagnostic and preventive health solutions.”

The increased interest and innovation within the health and wellness sector is setting up companies like Bioniq to continue their growth by enabling them to ride the trend wave. The pace of innovation and success of the industry is poised to maintain its growth, which will allow Bioniq to continue to thrive.

The hurdles along the way

Every startup and growing business faces challenges on the journey, and as many startups that existed at the time can attest to, both COVID and Brexit caused challenges. “Less than a year after Bioniq was founded, Brexit happened – followed shortly by the COVID-19 pandemic. At the time, we only offered our PRO formula, which is manufactured in Switzerland, and our business model relied on nurses visiting clients at home to take blood samples. It was an incredibly uncertain time, and we got through it thanks to our loyal clients who believed in the product and chose not to cancel their subscriptions during the crisis.”

Another challenge was scaling a hands-on product like PRO. However, in 2023, Bioniq reached a major benchmark, which was that it had accumulated a blood biomarker database of over six million data points. Fedotov explained the enormity of this feat: “This enabled our algorithm to cross-reference the results of a detailed health quiz with existing data in our system and generate highly personalised formulas without the need for actual blood tests. This breakthrough allowed us to launch Bioniq GO – a product that is both highly scalable and deeply personalised.”

Lessons learned

When challenges arise, lessons are learnt, and there is one aspect of running a startup that Fedotov had to learn, which is often one of the most challenging.

“At the start of our journey, raising funds was a challenge, particularly for a first-time founder. I was deeply passionate about our product – and I may have oversold it. I wanted to create everything at once: a health ecosystem, a biohacking platform, a personalised health disruptor. When I spoke to investors, they struggled to understand who we were, what our revenue model was, how we’d scale, and how we’d acquire customers.

“Fundraising might be humbling, but it teaches you to focus. One of the most valuable lessons I’ve learned is to narrow your focus and become exceptional at one thing. Today, our positioning is clear – Bioniq is a personalised supplements company based on blood test data.”

The future of wellness

In the current health and wellness landscape, Bioniq is well poised to continue the growth it has been seeing over the past couple of years.

Fedotov discussed the future of Bioniq: “Our goal is to elevate micronutrient personalisation to the highest level possible, making it a routine for everyday individuals and providing them with exactly what they need at the moment. To achieve this, Bioniq must become truly global and a regular part of more people's lives, so that taking supplements feels as automatic as brushing your teeth.

“Our aim is to reach more households and replace the generic supplements and vitamins people use with ones they can trust to work.”

This article originally appeared in the May/June 2025 issue of Startups Magazine. Click here to subscribe