We all live in a hyper-personalised world. From the food we eat to the clothes we wear, algorithms know what preferences and choices are, but when it comes to supplements, personalisation is yet to catch up. To change this Vadim Fedotov set up Bioniq in London in 2019.
The supplement formula tailored to everyone’s nutrient needs is created with the help of Bioniq’s patented algorithm that analyses blood test data and the results of a detailed health quiz.
“We started in 2019 in London as a health tech startup, today we are operational across 13 countries (North America, Europe, the Middle East, and Asia) and ship worldwide. Bioniq officially entered the UAE in 2021, and since then, we have expanded across the Gulf region, serving customers globally,” added Fedotov.
What does the product do?
After tests, Bioniq has developed one of the largest and most genetically diverse biochemical databases of over 100,000 members and over six million biochemical data points. The Bioniq algorithm now has grown more robust and more precise than ever, so it made us possible to create two products:
- Bioniq PRO starts with blood test data to fully quantify the client’s nutrient imbalances and use this data to create their personalised supplement formula. A person can either order a blood test by Bioniq or upload the results of a test taken in any lab.
- Bioniq GO only requires an individual to complete a health quiz. Bioniq’s patented algorithm suggests a personalised supplement formula.
Forging the right partnerships
However, building a healthtech product in the Middle East needs a nuanced understanding of the region’s healthcare landscape, cultural sensitivities, and regulatory framework.
It involves forging strong partnerships with local healthcare providers, government agencies, and regulatory bodies to navigate the complexities of the market.
“It also entails expanding our product offerings to meet the diverse needs of Middle Eastern consumers, such as personalized health solutions tailored to their specific genetic and lifestyle factors,” said Fedotov.
He believes collaborations play a crucial role in harnessing the full potential of healthcare technology.
“Important partnerships, like the ones we’ve established with The Department of Culture and Tourism – Abu Dhabi, meta[bolic], the pioneering hybrid healthcare company combining Digital Therapeutics (DTx) with human-centric clinical care, and AI Borg Diagnostics, a premier lab network in the Middle East and North Africa, can provide incredible leaps forward,” added Fedotov.
For example, Bioniq partnered with The Department of Culture and Tourism – Abu Dhabi in October 2023 to enhance fitness and health monitoring options within the emirate. This partnership has led to the integration of VAHA interactive mirrors in several hotels and key commercial and residential projects across Abu Dhabi.
Moreover, Bioniq’s recent collaboration with Al Borg Diagnostics has had a substantial impact on businesses and consumers across Saudi Arabia. With access to a 50-parameter blood test offered by Al Borg Diagnostics, consumers in cities like Riyadh, Jeddah, and Al Khobar and 25 other cities across the region, can now easily achieve optimal health levels.
Starting from a personal need
“The idea of Bioniq came from several factors. One is obviously because of my own sports background, as I was always into health optimization. I started playing basketball in my childhood and then played for the German national team and for the Buffalo Bulls in the U.S. during my studies at the University at Buffalo. Because of my sports injuries, rehabilitation and recovery processes have always been on my mind,” explained Fedotov.
Significant knee injuries cut his sports career short, which pushed Fedotov into the corporate world. As he inched closer to his 30s Fedotov became more observant of his body’s functions and capabilities.
“In 2017 I realised something was going wrong with my body. I decided to go through a thorough check-up to find out what was going on with me, but it showed nothing abnormal. I began to look for my answers. So Bioniq also came from my personal need to feel better and know what exactly is happening with my body to reach the goals that I set for myself,” added Fedotov.
He soon surveyed his inner circle of friends, partners, and colleagues and realised there was an interest in the product. Extensive research into the media landscape further confirmed the necessity of such a product.
Taking the help of external experts, they explored into different tech solutions capable of bringing the idea to life and also economically viable.
Building from the MVP
At first, Bioniq introduced a unique, tailor-made formula based on customers’ blood test data analysed by the patented algorithm.
“We leveraged the extensive scientific data already amassed by my scientific partners in their years of studies. Now, as we progress, the algorithm becomes more sophisticated with the accumulation of anonymised customer information,” added Fedotov.
Recognising the opportunity to reach a larger audience through a more mass-market product, the developed a questionnaire allowing the algorithm to predict a person’s likely nutrient deficiencies and create their personalised formula without the need for a blood test.
The Bioniq algorithm leverages data from over 100,000 members, encompassing more than six million biochemical data points.
“The great thing about Bioniq is that it is constantly evolving to improve its products. With each new blood test a member completes, we evolve the formula to meet their changing nutrient needs. Each blood test provides us with valuable information to further refine the algorithm,” added Fedotov.
Revenue model and plans
Following the test, customers can receive personalised supplement formulas from Bioniq, tailored to their individual needs.
“We operate a subscription model with two products. Bioniq GO is a questionnaire-based personalised supplement product that starts at $75 a month. Bioniq PRO is a blood test-based personalized supplement product and starts at $199 a month,” explained Fedotov.
Bioniq is backed by leading European investment funds, including HV Capital (DE) and Unbound (UK), with over $15 million in total.
The startup’s plans revolve around strengthening our brand as the premier provider of personalised supplements, gaining a leading position in the industry. We aim to expand our customer base, reaching out to more individuals who seek personalized health solutions.
“Additionally, we are actively seeking new collaborations and partnerships to make health more accessible and actionable for everyone. By forming strategic alliances, we can further our mission of empowering individuals to optimise their health and wellbeing,” said Fedotov.
