IM8 secures $1B funding from General Catalyst’s Customer Value Fund

Funding Details

IM8 has announced it has secured $1 billion in funding from General Catalyst’s Customer Value Fund (CVF). Unlike traditional equity investments, CVF provides loans which require repayment based on a capped percentage of revenue generated by the startup. This approach allows IM8 to maintain ownership without dilution while obtaining substantial capital for growth.

Structure of the Investment

The funding is structured to cover up to 70% of IM8's customer acquisition costs. In exchange, General Catalyst will receive a capped share of revenue, referred to as 'reference income', derived from customers linked to the funding. Once GC recovers its investment, all subsequent earnings from these customers will revert entirely to Prenetics, IM8's parent company.

Background on IM8

IM8 is a health drink company co-founded by CEO Danny Yeung, who previously founded Prenetics, which went public in 2022. The company specializes in a subscription service for a vitamin drink that includes ingredients like açai fruit extract and Coenzyme Q10, aimed at promoting longevity. Yeung's connections, including a notable dinner with David Beckham, led to the establishment of IM8.

Previous Funding by General Catalyst

This substantial investment follows a similar $1 billion funding round for Grammarly, which took place in May 2025 before its acquisition of Superhuman. General Catalyst’s unique approach to funding through loans with performance-based repayment terms indicates a shift in investment strategies for startups showcasing predictable revenue streams.