Allbirds, Warby Parker, Harry’s Sweetgreen, Soul Cycle, Uber, Casper and the chief of Blue Bottle Coffee all participated in the round. Yumi has raised about $12.1 million so far.
The baby food market is fairly saturated, both by legacy companies like Gerber and various startups. Zion Market Research said the global market could be valued at as much as $76 billion by the year 2021. Despite the competition, Yumi is one of the most well-funded newcomers.
The company said it has a clear advantage because it provides fresh ingredients as opposed to what it calls “shelf-stable” rivals who don’t offer the same level of nutrients.
“Our goal is to change the standards for childhood nutrition, and completely upend what it means to be a food brand in America,” said Yumi Co-founder and CEO Angela Sutherland. “This group of visionary leaders have all redefined their categories, and now we have the opportunity to work together to reimagine early-age nutrition for the next generation.”
Yumi sales have continued to climb year over year; last year, they reportedly hit the milestone of rising 10 times in value. The company did not release specific sales numbers, but the concept of providing the freshest ingredients for young children seems to be resonating with parents.
“As a parent, Yumi’s mission immediately resonated,” said Co-founder and Co-CEO of Warby Parker Neil Blumenthal. “As we’ve seen at Warby Parker, and now at Yumi, there is a massive shift happening in the world of retail. There is now a new generation of consumers who are actively seeking brands that reflect their values and lifestyle – the moat that big, legacy brands once enjoyed has evaporated.”