©Is This Normal, Little Spoon
US direct-to-consumer baby food brand Little Spoon has announced a $44 million financing round, as it looks to accelerate the growth of its healthy meals subscription-based service.
The Series B round was led by investment firm Valor Equity Partners, with participation from long-standing partner Kairos HQ.
Little Spoon offers a full system of organic nutrition solutions from baby food to vitamins, natural remedies and most recently, a toddler and kids meal line called Plates. Through its subscription-based service, the Californian-based start-up aims to provide families with convenient, healthy and affordable meals direct to their doors.
Since its inception in 2017, the company has delivered more than 15 million meals to US families, with 7 million of those purchased since the onset of Covid-19. As the result of increased demand over the last year, Little Spoon has more than tripled its team from ten to 33 employees.
The financing comes after Little Spoon raised $22 million in December, when it stated it had so far delivered over 6 million meals to parents. According to the company, it is on track to witness more than 300% revenue growth since its establishment.
With the capital, Little Spoon plans to continue growing its team and expanding its product portfolio, as well as developing its online community platform for parents, Is This Normal.
“We created Little Spoon so that parents didn’t need to choose between what’s convenient and what’s healthy,” said Little Spoon co-founder and CEO, Ben Lewis.
He added: “It’s humbling to be trusted by so many families across the US, starting with many baby’s first bites. We look forward to continuing to serve our community working to make quality nutrition accessible to all.”
Jon Shulkin, partner at Valor Equity Partners and board member, said: “The approach Little Spoon has taken to build the fastest growing DTC baby and kids food brand is unique. Rather than use the same, tired playbook for building a DTC brand they’ve managed to cultivate a community and movement around making quality nutrition for kids accessible and parenting easier.”
© FoodBev Media Ltd 2023