MINNEAPOLIS, Aug. 17, 2021 (GLOBE NEWSWIRE) -- DAO Labs, a Minneapolis-based health and wellness company that incorporates 2,500-year-old practices of Traditional Chinese Medicine into modern formats allowing customers to live more active, fuller lives, has recently unveiled plans to raise $1.07 million in a strategic effort to accelerate growth during an era where widespread physical and mental health is crucial. The fundraising campaign not only serves as an investment in an exponential growth category but also a long-term investment in a personal health and wellness journey. Billionaire investor and Galaxy Digital CEO, Mike Novogratz is an early investor in the company.
Dr. Eric Karchmer, Co-founder and Chief Doctor at DAO Labs, is a current recipient of a Fulbright Scholarship to research Traditional Chinese Medicine in Asia. “I’ve been practicing Traditional Chinese Medicine for nearly 30 years. The most thrilling aspect of DAO Labs for me is that in a very short time I have helped more people with Chinese medicine than in decades of clinical practice,” said Dr. Karchmer. “It’s an honor to now be learning from the best of Taiwan’s Chinese medicine community in order to further expand the offerings from DAO Labs.”
Studies show that due to the global pandemic, interest in alternative healthcare has skyrocketed and the global market for botanicals and acupuncture reveals a CAGR of 19.8% to $165 billion by the year 2027. DAO Labs’ fundraising efforts will provide great growth opportunities to help meet this demand, including advancements in tele-health through the company’s virtual consultations initiative, accelerated growth to DTC and B2B initiatives, and additional health and wellness approaches for alternative healthcare. “With interest in Traditional Chinese Medicine at a record high, we’re excited to be in such a compelling position to respond to this demand,” said John G. McGarvey, Co-founder of DAO Labs. “From our sleep formulas to our brand new and very timely cold season solutions, we’re helping more people achieve their health goals in authentic, time-tested, natural ways.”
In addition to an impressive portfolio of dietary supplement categories that are quickly expanding, DAO Labs boasts a dedicated global network of alternative healthcare providers with tremendous room to scale. Most recently, in response to the global healthcare crisis, the company launched two herbal tablets that provide natural strength and support to symptoms such as fevers, aches and coughs. These new formulas are expected to be top sellers as we approach another cold season.
To learn more about DAO Labs and products, please visit: https://mydaolabs.com
To become a DAO Labs investor, please visit: https://www.startengine.com/dao-labs
