ByHeart Raises $70M in Series A Financing

ByHeart, a NYC-based company providing infant & baby nutrition products, closed a $70m Series A funding round.

The round was led by Polaris Partners, D1 Capital Partners, and OCV Partners, with participation from Red Sea Ventures, Sean Parker, and existing investors Bellco Capital and affiliates of Two River.

In conjunction with the funding, Amy Schulman, Managing Partner at Polaris Partners, and Hemi Zucker, Managing Principal of OCV, joined ByHeart’s Board of Directors. Mike Tully joined the board as an observer on behalf of D1 Capital Partners. These new Board members joined biotechnology entrepreneur and Co-Founder of Bellco Capital, Arie Belldegrun, M.D., FACS, as well as Josh Bradley, Chief Investment Officer of Bellco Capital, Joshua Kazam, Co-Founder and Partner of Two River Group, and Guy Oranim, Co-Founder and Chief Executive Officer of First Media.

The company is using the funds to continue to expand its development efforts.

Co-founded in 2016 by Mia Funt and Ron Belldegrun in 2016, ByHeart is developing baby foods and formulas based on nutrition science, and production transparency to sit at the forefront of immune, cognitive, digestive and microbiome health. Founded in 2016, and based in New York City with facilities in Pennsylvania, the company is conducting a multi-site, infant-growth monitoring clinical study in accordance with the U.S. Food and Drug Administration’s requirements, to support first product launch in 2021.

Source, FinSMEs, April 15, 2020

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