ByHeart, a leading infant formula company based in New York City, is making waves in the industry with its recent expansion in funding, product line, and operations.
The company has secured an additional $95 million in financing, bringing its total funding to $395 million. Investors in this round include D1 Capital Partners, Bellco Capital, Polaris Partners, Two River, OCV Partners, AF Ventures, Red Sea Ventures, Gaingels, and others. This funding will support ByHeart’s continued launch in the United States and further product development.
Founded in 2016 by Ron Belldegrun and Mia Funt, ByHeart is on a mission to revolutionize the infant formula industry. The company’s formula, made from organic, grass-fed whole milk, is designed for easy digestion and is produced in small batches in-house.
In addition to the funding, ByHeart has expanded its operations with the addition of two new facilities in Portland, Ore., and Allerton, Iowa. The company also acquired a facility in Reading, Pa., in 2019, which has since been upgraded to meet ByHeart’s high standards.
“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,” said Ron Belldegrun, CEO and co-founder of ByHeart.
Amy Schulman, chair of the board at ByHeart and managing partner at Polaris Partners, expressed her excitement about supporting ByHeart’s mission of providing the highest standard of nutrition for babies and families through evidence-based innovation.
With its focus on innovation, quality ingredients, and scientific precision, ByHeart is poised to make a significant impact in the infant formula market. Stay tuned for more updates on this disruptive startup on the Food Entrepreneur page.