New York, USA-based innovative and comprehensive allergy care platform, Nectar raised USD 16.5 million in Series A funding. The round took place on December 20, 2022. Harmony Partners led the financing for the firm. Meanwhile, founding partners Juxtapose and Obvious Ventures joined in the funding. 

So far, the company’s total funding is more than USD 24 million.

Purpose of financing for Nectar 

The company intends to invest in three key areas in 2023. With the recent financing, firstly, Nectar seeks to scale its virtual care platform nationwide.

Secondly, it aims to launch its first physical location to comprehensively treat allergies. Moreover, the company aims to initiate clinical studies.

What the company’s founder has to say

 CEO and founder of Nectar, Kenneth Chahine, PhD, said, “Today, over 120 million people in the US suffer from allergic diseases, yet most consumers feel under-served and constrained with the therapies available to them. We’re proud to tackle this chronic illness head-on with transformative personalised solutions that holistically treat the unique root cause of an individual’s allergies while also focusing on convenience and an exceptional customer experience.”

What the investors have to say

Mark Lotke, Founder and Managing Partner at Harmony Partners, further said, “Nectar’s mix of cutting-edge scientific research, strong business and medical leaders, and an industry-changing approach to conquering allergies, made our choice to partner an easy one.”

He further added, “We’re proud to help fuel Nectar’s transformative work as it scales its virtual care platform nationwide.”

In addition, Patrick Chun, Co-founder and Managing Partner of Juxtapose, said, “Allergy care is a $450 billion market opportunity with no clear leader. Dr Chahine’s impressive track record, including his role in founding AncestryDNA and Ancestry Health, makes him the perfect leader to build and grow Nectar.”

Besides, James Joaquin, Co-founder and Managing Director of Obvious Ventures, said, “We’re thrilled to be partnering with Harmony and Juxtapose to help accelerate the success of Nectar. Together we plan to improve the lives of millions of allergy sufferers.”

About the company 

Founder and CEO Kenneth Chahine launched the company in June 2022. The company continues to build a comprehensive, vertically integrated allergy healthcare platform that leverages data and clinical research to offer a personalised, patient-centric approach to allergy care. It is on a mission to turn clinical research into personalised, accessible, and revolutionary allergy care and ultimately put an end to allergy-related issues.

For more extensive analysis and Market Intelligence reports, feel free to approach us.

We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know

if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover

–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!

Next Article

Previous articleUSA-based Foundation Devices closes USD 7 million seed funding
Next articleCambridge-based biotech startup Parallel Bio raises USD 4.3 million in seed funding
Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.


Please enter your comment!
Please enter your name here