USA – ByHeart, an innovative next-generation infant nutrition company, has secured US$95 million in funding to boost its US commercial launch and further develop its groundbreaking innovation pipeline.
This latest round of funding brings ByHeart’s total investment to US$395 million, with contributions from prominent investors including D1 Capital Partners, Bellco Capital, Polaris Partners, Two River, OCV Partners, AF Ventures, Red Sea Ventures, and Gaingels.
The company has also completed its full end-to-end domestic manufacturing chain, featuring new facilities in Portland, Oregon, and Allerton, Iowa.
These manufacturing sites are set to enable ByHeart to expand production of its advanced formula, designed to meet the needs of 15% of the addressable market.
ByHeart’s CEO and Co-Founder Ron Belldegrun emphasized the company’s commitment to innovation and quality.
“ByHeart’s foundation was built on a culture of innovation—incorporating clinical trials, highest quality ingredients, advanced nutrition science, and a proprietary recipe—from day one,” he stated.
“We are committed to doing better for babies and their parents, and that means continued investments into end-to-end manufacturing, scientific advancement, and meaningful innovation in an industry that so desperately needed it.”
ByHeart stands out as a three-time Clean Label Project Certified brand and is the only new infant formula company to open two new domestic facilities since the national infant formula shortage.
This move helps improve the country’s fragile infant nutrition supply chain and mitigate the risk of future shortages.
Unlike many new US formula brands that rely on external parties for production steps, ByHeart’s end-to-end manufacturing allows for complete control over the production process, ensuring rigorous quality standards are met.
Utilizing the latest advancements in breast milk science, ByHeart’s formula offers clinically proven benefits, including easier digestion, reduced spit-up, softer stools, more efficient weight gain, and enhanced nutrient absorption.
The company ran the largest clinical trial by a new infant formula brand in 25 years, incorporating a comparison to breast milk, and published its findings in the Journal of Pediatric Gastroenterology and Nutrition.
Amy Schulman, Chair of the Board at ByHeart and Managing Partner at Polaris Partners, praised the company’s mission and its impact on the infant formula industry.
“Polaris is delighted to continue to support the expansion of ByHeart’s infant-first mission. In the long-stagnant infant formula space, ByHeart’s evidence-based approach drives innovation to benefit the health and wellness of babies and families,” he said.
“Our investors and team recognize the responsibility we have to provide the highest standard of nutrition, crafted with scientific precision and the utmost care,” Schulman stated.
In addition, ByHeart’s distribution is expanding rapidly, with the recent launch of Thrive Market, an online grocer known for healthy and sustainable products.
Thrive Market selected ByHeart for its high-quality standards and innovative benefits backed by clinical trials. ByHeart’s products are also available directly to consumers via byheart.com and at Target stores nationwide, both in-store and online.
With its robust financing, advanced manufacturing capabilities, and commitment to superior infant nutrition, ByHeart is set to make a significant impact in the market, providing high-quality, science-backed formula to more families across the nation by the end of 2024.
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