Business
Baby food delivery startup Yumi spoon fed another $8M in strategic funding
Babies have options these days when it comes to what goes in their mouths. No more is it just the standard mush in a jar. Now they’ve got everything from pouches to organic purees delivered right to their parents’ door — and Yumi is one of several startups cashing in.
The company has just announced that it raised another $8 million from several of Silicon Valley’s household names, including Allbirds, Warby Parker, Harry’s, Sweetgreen, SoulCycle, Uber, Casper and the CEO of Blue Bottle Coffee, James Freeman. That puts the total raised now to $12.1 million.
But it’s a tough and saturated market full of products all vying for mom and dad’s attention, and that’s not a lot of cash to go on, compared to the billion-dollar industry Yumi is up against. According to Zion Market Research, the global baby food market could reach as much as $76 billion by 2021. However, you wouldn’t know Yumi was up against such odds if you ask them and their financial supporters.
The advantage, according to the company, is in providing fresh food alternatives, and that “shelf-stable” competitors like Gerber lack key nutrients parents want for their little ones.
“Our goal is to change the standards for childhood nutrition, and completely upend what it means to be a food brand in America,” Yumi co-founder and CEO Angela Sutherland said. “This group of visionary leaders have all redefined their categories and now we have the opportunity to work together to reimagine early-age nutrition for the next generation.”
Will that bet pay off and help this startup stand out? Sales continue to rise and have risen by 10 times in the last year, according to the company — we’ve asked but don’t know what those sales numbers are, unfortunately. However, Yumi’s bet on fresh and delivered could prove to be just what parents want as the company continues to grow.
“As a parent, Yumi’s mission immediately resonated,” said co-founder and co-CEO of Warby Parker Neil Blumenthal . “As we’ve seen at Warby Parker, and now at Yumi, there is a massive shift happening in the world of retail. There’s now a new generation of consumers who are actively seeking brands that reflect their values and lifestyle — the moat that big, legacy brands once enjoyed has evaporated.”
-
Entertainment6 days ago
‘Only Murders in the Building’ Season 4 ending explained: Who killed Sazz and why?
-
Entertainment7 days ago
Polling 101: Weighting, probability panels, recall votes, and reaching people by mail
-
Entertainment5 days ago
When will we have 2024 election results online?
-
Entertainment6 days ago
5 Dyson Supersonic dupes worth the hype in 2024
-
Entertainment4 days ago
Halloween 2024: Weekend debates, obscure memes, and a legacy of racism
-
Entertainment5 days ago
Social media drives toxic fandom. Is there a solution?
-
Entertainment4 days ago
Is ‘The Substance’ streaming? How to watch at home
-
Entertainment4 days ago
M4 MacBook Pro vs. M3 MacBook Pro: What are the differences?