Nutri-Genetix (NGX) the world’s first genetically personalised nutrition shake, tailored to an individuals own DNA for enhanced performance, has gone live with a second round of crowdfunding following a successful first round in December 2019.
The crowdfunding campaign was launched with exclusive access to it’s NGX tribe of previous investors and customers before going public on the 1st October 2020. The money will be used for the expansion of NGX who are experiencing 100% month on month growth following successful feedback of the cutting edge product that has already provided 30,000 NGX meals in 2020.
Alongside the capital they hope to raise, the pioneering brand continues to shake up the industry by taking on HMRC. The dispute is over outdated terminology, from EU legislation no longer relevant to the UK, concerning the legal definition of a meal replacement product. Not only impacting costly VAT claims but also the nutritional knowledge of their consumers.
The UK based nutrition start-up has written to Matt Hancock, Public Health England and the HMRC, challenging the definition which currently states the need for a set level of carbohydrates. Thus rewarding a higher carbohydrate based product with UK VAT exemption and punishes healthier alternatives.
It’s also been shown that so-called weight loss shakes hold up to 20% sugar but abide by HMRC guidelines. Something NGX rightfully argues is not needed for modern healthy diets, especially given the government war on obesity.
In the production of their BodyFuel supplement, the ingredients are tailored individually to fit the needs of its consumer, acting as both a meal replacement and an additional nutritional shake, rather than the archaic definition of a Sports Drink resulting in a VAT dispute. The HMRC is yet to comment on the dispute.
Founders Hugo Jones and Jeremy Poland have said: “While the technology for nutrition is improving at a rapid rate, the accompanying legalities are stuck in the ages. NGX is designed to offer the consumer a totally new, cutting edge product suitable for weight loss, endurance or lean muscle gain to improve both physical performance and mental health and has been proved popular to not only customers but to our investors.
We hope that by raising these issues with HMRC we are able to establish a refined definition for what a Meal Replacement actually is and help improve not only our awareness in the category, but also the nutritional knowledge and future health of the country.”
The crowdfunding page can be seen here: https://www.crowdcube.com/companies/ngx/pitches/bd7DNZ