Monday, June 24

Berkeley-based Foodtech Startup Raises $20 million for Expansion

Berkeley-based startup Once Upon a Farm has reportedly raised funds amounting to $20 million in Series B financing round. The funding round was led by CAVU Venture Partners.

The company plans to use the funds to expand its direct to consumer business, partner with more U.S. grocers and build out a wider assortment of baby products.

Following the deal, CAVU’s co-founder and managing partner Brett Thomas, along with CAVU investor Jared Jacobs, will join the company’s board.

Founded in 2015, the startup sells organic, cold-pressed baby food in 8,500 grocery stores in the U.S. It was founded by serial entrepreneurs Cassandra Curtis and Ari Raz. The company also mentions actress Jennifer Garner and former General Mills president John Foraker as its co-founders.

Foraker had been an angel investor in Once Upon a Farm. Both Garner and Foraker joined the company in September 2017.

“I am proud of the innovative business that we have built,” Garner said in a statement. “It is incredibly exciting to see so many families embracing our products. This latest round of funding allows us to continue to help busy parents give their children the most nutritious foods possible and make life a little bit easier for families across the country,” said Foraker.

“You can buy fresh pet food now in almost 20,000 stores in the U.S.,” she added. “We think fresh baby food has a long way to go.”

Also, it is being said that since these two have joined the company, the business has grown 10x. The company sells smoothies and applesauce for kids up to age 12 directly to consumers through its online marketplace and in stores.