# ByHeart

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/byheart

- Industry: Food
- Headquarters: New York, US
- Website: www.byheart.com
- Total disclosed funding: $239M
- Latest round: Series B (Mar 28, 2024)
- Investors on record: 9

## About

Established in 2016 and based in New York, US, ByHeart, Inc. operates as a developer and manufacturer of formula milk for newborns. The firm was co-founded by Ron Belldegrun and Mia Funt. In March 2024, ByHeart, Inc. raised USD 80.05 million in series B funding led by investors D1 Capital Partners, Bellco Capital, Polaris Partners, Two River Ventures, etc.

ByHeart’s formula closely mimics the composition and benefits of breast milk. The company’s flagship product is an organic, grass-fed whole milk-based infant formula that sets new benchmarks in nutrition and digestibility. ByHeart also has a patented protein blend, featuring key components like Alpha-lac and Lactoferrin, crucial for supporting a baby’s growth, digestion, and immune health. The company uses organic whole milk, rich in essential fatty acids and nutrients vital for brain development, eye health, and immune support. The formula is crafted in small batches across its facilities in Iowa, Pennsylvania, and Oregon to ensure optimal nutrient retention and purity.

ByHeart generates revenue by offering its infant nutrition products both offline and online. Some of the products available on its e-commerce website include Whole Nutrition Infant Formula 40-44 x 4 fl oz bottles at USD 39 per can, etc.

The company plans to utilize the March 2024 funding for its continued US commercial launch and development of its innovation pipeline, including expanding production capacity by adding two new production facilities in Oregon and Iowa.

## Funding rounds

- Series B, Mar 28, 2024, $80M — Polaris Partners, Red Sea Ventures, AF Ventures, Gaingels, OCV Partners, D1 Capital Partners, Bellco Capital, Two River Ventures
- Series B, Jul 27, 2021, $62M — Polaris Partners, Red Sea Ventures, AF Ventures, Gaingels, OCV Partners, D1 Capital Partners, Two River, Bellco Capital
- Series A, Mar 18, 2020, $97M — Polaris Partners, Red Sea Ventures, OCV Partners, D1 Capital Partners, Bellco Capital

## Investors

- Polaris Partners (https://capitalatlas.ai/funds/polaris-partners) — Series A, Series B
- Red Sea Ventures (https://capitalatlas.ai/funds/red-sea-ventures) — Series A, Series B
- OCV Partners (https://capitalatlas.ai/funds/ocv-partners) — Series A, Series B
- D1 Capital Partners (https://capitalatlas.ai/funds/d1-capital-partners) — Series A, Series B
- Bellco Capital (https://capitalatlas.ai/funds/bellco-capital) — Series A, Series B
- AF Ventures (https://capitalatlas.ai/funds/af-ventures) — Series B
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series B
- Two River (https://capitalatlas.ai/funds/two-river) — Series B
- Two River Ventures (https://capitalatlas.ai/funds/two-river-ventures) — Series B