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To make ‘best nutrition for baby’ possible for every parent out there.
The infant formula market in the US has long been monopolized by four major players, and when these companies were hit by supply chain issues and plant closures, their customers took a devastating hit. As demand continued to be high, this cracked open the market for smaller baby formula players to make an entrance. ByHeart is one that’s made especially strong strides.
This is largely down to ByHeart’s early application for FDA approval. The company received this before the formula crisis hit, so it was well placed to meet the demand created by failures in more established competitors. ByHeart sales have surged recently, as they have done for ByHeart’s similarly prepared competitor Bobbie. Whilst brands like Nature’s One and Holle are similarly looking to take advantage of the market disruption, it’s likely they will be hobbled for now by hold-ups with FDA approval.
These two companies have been vying for pole position in a savvy market niche: small-batch formula that focuses on quality, grass-fed whole milk and all-natural ingredients. The US regulations on baby formula are remarkably loose, meaning that trusted and quality formula could prove a hugely lucrative niche. ByHeart's acquisition of Cascadia Nutrition will enable full control over manufacturing process so it can boost the quality, safety and reliability of its product - and perhaps start to truly dominate the market.
Steph
Company Specialist at Welcome to the Jungle
May 2024
$95m
LATE VC
Jul 2021
$90m
SERIES B
Mia Funt
(President)Worked as a Kantar Futures strategy consultant, then consulted with The Gates Foundation. Subsequently moved to AOL & Huffington Post to work on media business development, and then held a senior marketing and strategy role at Verizon / AOL.
Ron Belldegrun
(CEO)Worked as an investor at Visium Asset Management, then founded Consumer Health Ventures.