- Jude just raised a $4.24 million seed round to expand into the US.
- The startup sells bladder-support supplements, undergarments, and other products to Baby Boomers.
- Check out the 17-slide pitch deck Jude used to raise funding from Eka VC and Samos VC.
Move over, millennials: one startup founder believes that baby boomers represent a largely untapped market for discreet undergarments and supplements.
Jude, a consumer healthcare company that offers bladder care products, has raised $4.24 million in seed funding from three European investors: Eka VC, Samos VC, and doctor-turned-investor Fiono Pathiraja of Christa Galli Ventures.
Jude, which is based in London, sells incontinence products such as supplements, leak-proof underwear, and liners and pads. In addition, the startup launched a digital subscription service to encourage community building and to provide users with consultations and personalized treatment advice.
Many startups focusing on the aging population provide solutions for in-home healthcare, such as Honor, which developed a technology platform to transform the in-home care experience, and navigating health plans, such as Devoted Health, which administers various Medicare Advantage plans.
Jude, like other startups backed by Jude’s investors, is building a digital consumer business offering health and wellness products to a niche population, such as British meal-delivery kit Gousto, super-green supplement Bloom, and sustainable natural deodorant Wild. The company expects to be profitable by the third quarter of 2024.
Jude intends to use the seed funding to expand into the United States, selling at the intersection of bladder care, senior healthcare, and women’s health. Though Jude products can be used by anyone, the startup is primarily targeting the nearly 84 million baby boomers in the United States, which Jude claims is a largely “untapped” market worth more than $500 billion and another £98 billion in the United Kingdom.
When Jude tried to attract investors, the combination of healthcare, eldercare, and women’s health proved critical.
“It was extremely difficult. “We got 95 rejections out of 100 conversations and pitches I’ve done,” Jude founder Peony Li told Insider. “The economic environment made it more difficult for venture capitalists to believe in the growth of consumer businesses.” Nonetheless, we have something unique to offer, a unique vision, and a very empty landscape.”
Examine the 17-slide presentation. Jude had previously raised $4.24 million in seed funding. The company has redacted some figures to protect proprietary information.