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US plant-based nutrition company PlantBaby has announced the successful closing of a $20m Series Seed equity financing round.
The round was led by investment firm B2 Partners, which will join the PlantBaby board. It received additional support from Big Idea Ventures, Everywhere Ventures, X Factor Ventures, Women’s Equity Lab Silicon Valley and Babylist.
The funding will enable PlantBaby to expand product availability of its Kiki Milk beverage brand around the US, through Sprouts, Wegmans, Amazon, Thrive and its own website. It will also support further R&D efforts and product innovation in both plant milk and new categories.
Based in California, US, PlantBaby was launched by founders Lauren and Alex Abelin after their son’s birth. The founders said they were frustrated by the lack of clean label and dairy-free infant nutrition options, and launched PlantBaby with the aim of providing healthy products that could meet families’ nutritional needs, including the 50% of children with chronic health conditions.
PlantBaby’s first product, Kiki Milk, launched in 2020 in original and chocolate flavours. It has since expanded to include macadamia nut and unsweetened varieties.
Kiki Milk is made with a blend of more than six whole food ingredients and is free from seed oils, gums, artificial flavours and preservatives. It is USDA-certified organic and glyphosate-residue free. Each serving provides 5g of protein and a source of calcium, provided by fully plant-based ingredients including sprouted pumpkin seeds, hemp seeds and the algae-based Aquamin mineral complex.
PlantBaby’s co-founders, Alex and Laura Abelin, commented: “We became acquainted with B2 Partners through an introduction by one of our early investors. Their decision to lead this funding round underscores their confidence in PlantBaby's vision and potential. We're thrilled to join forces with such an excellent and thoughtful partner.”
They added: “Improving the health of future generations is our North Star as both parents and entrepreneurs”.
