Bobbie Completes $50M Financing Round
Summary
Bobbie, the first Organic, European-style infant formula that is manufactured in the U.S., today announced the closing of $50M in new financing, including its Series B funding led by Park West with participation from existing investors VMG and NextView. The Airbnb alumni syndicate, AirAngels, provided more than 100 new investors who are backing their former colleagues and now Bobbie founders, Laura Modi and Sarah Hardy. This round of capital will accelerate innovation in the stagnant formula industry and support continued nutritional advancement on Bobbies product development with its unique recipes and purposefully-sourced ingredients. Bobbie is mom-founded and led and supported by a "Medical Motherboard" consisting of 11 advisors including pediatricians, dietitians, lactation consultants, doulas, nurses, OB/GYNs, scientists, and professionals who contribute their expertise to building a next-generation formula company. With a point of view that what you put in formula is just as important as what you leave out, Bobbie does not include commonplace ingredients like corn syrup, palm oil, or maltodextrin.