We advised Estonian health technology startup Geneto on its merger with video training platform FitQ. As a result of a joint agreement between Geneto’s shareholders, Jaak Sarv, founder of Geneto, became co-founder and product manager of FitQ. The merger will allow the companies to integrate their products and offer their services as a one-stop solution in the future.
New combined training solution
Founded in 2016 by Jaak Sarv, Geneto is a start-up company offering a nutrition and exercise supplement based on genetic testing. Their genetic tests are developed by researchers at the University of Tartu, using data from the UK Biobank and the Estonian Genome Repository. Based on saliva samples collected from clients, Geneto calculates various disease risks, such as type 2 diabetes, coeliac disease or gluten intolerance, lactose intolerance, high blood pressure risk, high cholesterol and high obesity risk.
Together with the startup FitQ, they are trying to find a new and more sustainable development model. The creation of a joint package will also allow Geneto to enter the market with a more affordable genetic test. “If we look at health and sports apps globally today, they are focused on solving just one problem. Our ambition is to provide the user with a nutrition and exercise solution in one product. As a customer, you should strive to change both your eating and exercise habits at the same time in order to achieve results,” comments FitQ founder Marti Soosaar in an article in Geenius Media.
Entrepreneurs also plan to raise money this year to boost development. The founders hope to raise up to €1 million in investment over the next six months.
Our services and client team
We advised Geneto throughout the merger process, including in drafting the necessary documents and negotiating the terms.
Our team was led by counsel Mirell Prosa and supported by partner Toomas Prangli and associate Eva Lennuk.
