Organic infant formula company Bobbie secures $15m in Series A round
Bobbie, an American organic infant formula company, has raised $15 million in a Series A funding round led by VMG Partners.
Founded in January 2021 by Laura Modi and Sarah Hardy, Bobbie is said to have crossed $1 million in sales in the first quarter of this year.
The organic infant formula company, which is based in California, sells direct-to-consumer and has a subscription service. It is claimed to have a waiting list of over 7,000 parents for its products.
Bobbie has a European-style recipe, organic infant formula that is modeled after breast milk. It is said to be designed to adhere to the most recent nutritional standards set by the European Union for DHA, iron, and other critical ingredients, while also meeting all the nutritional standards of the US Food and Drug Administration (FDA) for infant formula products.
Bobbie organic infant formula. Photo courtesy of Business Wire.
Laura Modi – co-founder and CEO of Bobbie said: “We lead like a Mother. Mothers understand the ins and outs of infant formula, from the ingredients to the politics. They have experienced the pain, they have worked through the solutions, and they believe with every disappointed ounce in them that there’s a conversation to be had on how we feed our babies.
“Our Bobbie board is 100% women-led, with the recent addition of Ally Tam, a partner at VMG.”
VMG Partners had earlier Kind, Daily Harvest, Bare Snacks, and other consumer packaged goods brands.
Ally Tam said: “We watched Bobbie navigate the challenges of bringing a completely new product to market in a highly regulated environment with equal parts grace and tenacity, and then exceptional success.
“We see hundreds of new brands launch every year, so when Bobbie showed us their first month’s launch results – which were exceptional – it was a no-brainer to formalize our relationship with the company by leading their Series A.”
Bobbie claims to focus on offering a purposefully sourced, USDA organic infant formula with Organic Valley milk from cows raised on pasture. Furthermore, its organic infant formula does not have commonplace ingredients like corn syrup, maltodextrin, or palm oil.