Infant formula: A Success Formula For New Start-ups in Silicon Valley
Increasing population is, in turn, increasing the infant population in the US and globally. This is creating a huge opportunity for the infant formula and baby food market. The startups in the silicon valley are making a note of this, and many of them are entering this booming market. Laura Modi’s Bobbie Baby is one such startup. Infant formulae provide an option for breastfeeding. Institutions such as the World Health Organization (WHO) are creating awareness about the benefits of breastfeeding. But, many of the parents are switching to these formulae as a supplement or as an alternative for breastmilk. There are numerous reasons for this switch, such as health problems to an infant or the mother, and inadequate maternal leaves in the US.
The startups in Silicon Valley are utilizing this opportunity and coming up with new technologies to aid in mothers nurturing their infants via improved infant formulae, breast pumps, which are user-friendly. The startups which are formed are either focusing on making new formulae or modifying the existing ones to improve their blends. Sugarlogix is one such company which is focusing on recreating most commonly found sugars in the breastmilk via state of the art gene-editing tools and technologies. Laura Modi, a former Airbnb employee along with her former colleague Sarah Hardy, founded Bobbie Baby.
They raised 2.5 Mn USD as capital funding for this venture. Their company focused on bringing the European formula, which by most of the parents thought to be healthier, to the US market. But, within ten days, the US FDA issued a warning in June against the consumption of their formula. The complaints said that the formula lacked an adequate amount of nutrition for premature and low birth weight babies. Also, the formula was manufactured in Germany and then imported to the US. Modi said that their company would overcome these complaints and bounce back in the market with a greater impact.