Total amount raised
$277 Millions
Latest funding date
Location
ByHeart has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company specializes in FDA-registered infant formula, emphasizing quality and innovation in baby nutrition.
Keep reading to explore the intricacies of ByHeart's fundraising journey and the investors backing this innovative platform.
What Is ByHeart?
ByHeart, founded in 2016 by Mia Funt and Ron Belldegrun, is a New York-based company specializing in baby nutrition. They produce FDA-registered infant formula, emphasizing quality and innovation.
The company is dedicated to translating leading nutrition science and breastmilk research into evolved foods and formulas. Their flagship product, Whole Nutrition Infant Formula, is made with organic, grass-fed whole milk and a patented protein blend.
ByHeart operates with a team of 101-250 employees, focusing on providing high-quality, nature-inspired nutrition for infants. Their commitment to rigorous testing and sourcing high-quality ingredients sets them apart in the industry.
How Much Funding Has ByHeart Raised?
- Series A
- Amount Raised: $70M
- Date: April 2020
- Lead Investors: D1 Capital Partners, OCV, Polaris Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and enhance research and development capabilities.
- Debt Financing
- Amount Raised: $22M
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure working capital for operational expenses.
- Series B
- Amount Raised: $90M
- Date: July 2021
- Lead Investors: D1 Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand manufacturing facilities and increase market reach.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: March 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational and expansion efforts.
- Series C
- Amount Raised: $95M
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel U.S. sales growth and research and development.
Total Amount Raised: $277M. Current Valuation: Not publicly disclosed.
Key Investors
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that deploys capital in both public and private markets. They are known for their strategic investments across various sectors.
- Investment Focus Areas: Public markets, private markets, technology.
- Notable Investments: SpaceX, Stripe, Robinhood.
- Polaris Partners
- Details: Polaris Partners is a venture capital firm that invests in technology and healthcare companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Technology, healthcare, life sciences.
- Notable Investments: Akamai Technologies, Ironwood Pharmaceuticals, LogMeIn.
- OCV Partners
- Details: OCV Partners is a venture capital firm that invests in early-stage and growth-stage companies. They focus on sectors that drive technological and healthcare advancements.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: NextGen Healthcare, Vicarious Surgical.
- Red Sea Ventures
- Details: Red Sea Ventures is a venture capital firm that invests in early-stage companies. They aim to support innovative startups in various sectors.
- Investment Focus Areas: Early-stage technology, consumer, healthcare.
- Notable Investments: Sweetgreen, Compass.
- Bellco Capital
- Details: Bellco Capital is a private investment firm focused on life sciences and healthcare. They are dedicated to advancing medical and technological innovations.
- Investment Focus Areas: Life sciences, healthcare, technology.
- Notable Investments: Not publicly disclosed.
What's Next for ByHeart?
ByHeart is poised to capitalize on a $6 billion U.S. market and a $60 billion global market by expanding into new retail markets like Thrive Market, Babylist, and Target. The company plans to add several more retailers by the end of the year, fueling U.S. sales growth and research and development.
Future fundraising opportunities seem promising, given the significant market size and ByHeart's ongoing expansion efforts. The company may attract new investors to support its growth and innovation pipeline. However, challenges such as competition from established brands and maintaining high-quality standards across multiple manufacturing facilities could impact their journey.
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