Food Entrepreneur NEW YORK — Infant formula company ByHeart is expanding its dollars, product line and operations.

The company recently received $95 million in additional financing, bringing its total funding to $395 million, according to the company. Investors include D1 Capital Partners, Bellco Capital, Polaris Partners, Two River, OCV Partners, AF Ventures, Red Sea Ventures, Gaingels among others.

The financing will support the company’s continued launch in the United States and product development.

“ByHeart’s foundation was built on a culture of innovation,” said Ron Belldegrun, chief executive officer and co-founder of ByHeart. “Incorporating clinical trials, highest quality ingredients, advanced nutrition science and a proprietary recipe — from day one. We are committed to doing better for babies and their parents, and that means continued investments into end-to-end manufacturing, scientific advancement and meaningful innovation in an industry that so desperately needed it.”

In addition to its funding, the company added two new facilities in Portland, Ore., and Allerton, Iowa.

The company also has a facility in Reading, Pa., which it acquired in September 2019 and upgraded to fit the company’s standards.

ByHeart, based in New York City, was co-founded in 2016 by Belldergrun and Mia Funt after the pair realized the infant formula industry needed an upgrade.

After years of testing and trials, the company received FDA Registration and launched its formula from December 2021 through March 2022.

The company’s formula is made in-house in small batches. The formula is formulated from organic, grass-fed whole milk and is designed to offer easy digestion for babies, according to the company.

“Polaris is delighted to continue to support the expansion of ByHeart’s infant-first mission,” said Amy Schulman, chair of the board at ByHeart and managing partner at Polaris Partners. “In the long-stagnant infant formula space, ByHeart’s evidence-based approach drives innovation to benefit the health and wellness of babies and families. Our investors and team recognize the responsibility we have to provide the highest standard of nutrition, crafted with scientific precision and the utmost care.” 

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