Little Spoon Raises $ 44 Million to Expand Child Nutrition Delivery Service – TechCrunch
The quest to disrupt the traditional baby food aisle continues as more and more parents today seek nutritious foods for their children.
One of the startups tackling the $ 100 billion child health and wellness market is Little Spoon, which produces fresh, direct-to-consumer meals for babies and children.
The New York-based company on Tuesday announced a $ 44 million Series B funding round led by Valor Equity Partners, with participation from Kairos headquarters. The new funding gives Little Spoon $ 73 million in total funding since its inception in 2017 by Lisa Barnett, Ben Lewis, Michelle Muller and Angela Vranich.
The subscription service offers meals from its Babyblends and Plates range of organic purees, a range of healthy meals for toddlers and children. Babyblends cost less than $ 3 per meal, while Plates cost less than $ 5 per meal. It also provides vitamins and natural remedies in its Booster range.
Barnett, president and chief marketing officer, told TechCrunch that the new funding round allows the company to scale as a child nutrition solution and provide more engagement with parents through its community platform. “Is This Normal”.
The baby and child market has traditionally been “very sleepy,” as is parenting space as a whole, she said. Traditional businesses don’t keep up with the needs of today’s parents, and consumers don’t tolerate substandard products and experiences.
The four founders of Little Spoon came together to meet those needs, Barnett said, and that’s why more and more brands are emerging as well. Serenity Kids is another premium baby food startup that offers low sugar baby food. In June, he raised $ 7 million in Series A funding led by CircleUp Growth Partners.
“It was no coincidence that when we first started, seven in ten new parents using our products were millennials,” added Barrett. “Millennials have entered this stage in droves, more aware of the link with food, health and nutrition. They don’t want old baby food to sit on the shelf, and these are two-income households where it’s not convenient to cook it yourself.
Little Spoon differentiates itself from the competition by creating a whole consumer experience with its community platform and by offering a range of products for each stage, of high quality and affordable.
The Series B comes as the company doubles down on what works as it grows its platform, CEO Lewis said. Aiming to be a holistic solution for parents, he intends to use the new funding to build the community and the content platform – what he sees as the company’s “secret sauce”, and strengthen operations to support growth.
The company is on track for over 300% revenue growth. This year, he quadrupled his team from 10 to 37 team members. Since its launch, Little Spoon has delivered over 15 million meals.
“We’re still at the start of what Little Spoon could be,” Lewis said. “We are focused on developing new products, investing in the community, building capacity and strengthening operations. “
Alex Fiance, co-founder and co-CEO of Kairos, told TechCrunch that his company invests in companies whose business model starts with the problem. He sees Little Spoon at the intersection of food technology and healthcare in the midst of the concept of food as medicine.
He has known the founders for over a decade and loved that the company’s product vision “could last for decades.” It also supports the brand’s mission to follow children as they age and become a trusted source for keeping children healthy.
In fact, he’s also one of Little Spoon’s target customers. The girl from France was born in November 2019 and grew up eating Little Spoon. When it was time to switch it over to solid foods, Fiance said he was happy when the company introduced their line of plates.
“Little Spoon makes my wife’s and my wife’s life easier,” he added. “I was sad to see that she might have aged Little Spoon if they hadn’t started Plates. We could no longer be believers.