The deck that baby food delivery service Little Spoon used to raise $22 million from investors like Valor Equity Partners and Serena Williams
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.
- Little Spoon, a startup that makes organic baby food, raised $22 million in Series A funding in December 2020.
- The company claims its products are healthier than traditional brands and lacks additives, preservatives and GMOs.
- The Series A round was led by private investment firm Valor Equity Partners.
- Visit Business Insider’s homepage for more stories.
The $67 billion baby food market has become more crowded in recent years with new startups from Yumi to Amara that are pitching healthy options.
One of them is Little Spoon, a 3-year-old organic baby food home subscription service. It raised $22 million in December in its Series A round that was led by Valor Equity Partners and included Vaultier7, Kairos Ventures, and tennis star Serena Williams.
Little Spoon pitches its products as healthier than established brands, with no additives, preservatives, or GMOs.
“We realized that millennial parents had different standards for what they buy and feed their kids as compared to previous generations, and the options in baby food just hadn’t caught up,” said Lisa Barnett, president and CMO of Little Spoon.
Barnett said company sales had grown 300% year-over-year since its launch, without giving specifics. She added that the company had delivered over 6 million meals.
Little Spoon started with baby products and expanded to meals for toddlers and kids as more parents started working from home during the pandemic.
It plans to use the new funding to hire, expand to categories like snacks and dessert, and do more marketing, which has mostly focused on organic, content, and word-of-mouth channels like its parenting-focused website “Is This Normal” and influencers such as fashion designer Rebecca Minkoff answering parenting questions.
Below is Little Spoon’s Series A fundraising deck.