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36 Krypton learned that the baby health food brand “Baby Glutton” has completed more than 100 million yuan A and A+ rounds of financing last year, exclusively invested by Tiantu Capital. It is reported that the financing funds will be mainly used for supply chain transformation and brand building.
Chen Sheng, the co-founder of “Baby Glutton”, introduced to 36 krypton that around 2016, many influential KOLs emerged in the maternal and infant industry, such as rice cake mothers and clove mothers. The knowledge of scientific feeding has been effectively popularized. Scientific and refined feeding has become a trend, but the market lacks corresponding product demand. Therefore, the team established “Baby Glutton” at the end of 2016, and wanted to provide scientific, nutritious and delicious baby meals for babies from half to 3 years old.
According to the information provided by the team, the company’s performance in 2020 will increase significantly, and the monthly sales of the entire network have now reached nearly 100 million yuan, which is more than 30 times higher than that in 2019. On Double Eleven in 2020, “Baby Snacks” will become the number one brand in the “Baby Snacks” category on Tmall.
Baby is greedy
At first, “Baby Glutton” focused on healthy ingredients, and mothers need to make them by themselves after buying them home. However, the team realized that this method was costly in time and the output was unstable, so it decided to switch to a more convenient open-bag ready-to-eat product, and launched the first instant seaweed product in September 2018.
Chen Sheng told 36 krypton that this batch of seaweed produced the first wave of repurchase within 3-7 days, and user feedback was very good. Since then, “Baby Glutton” has continued to develop foods that are suitable for the physique, nutrition and deliciousness of Chinese babies, which can be roughly divided into three categories: ingredients, snacks, and condiments. There are currently more than 40 SKUs, including children’s shrimp chips and molar strawberries Biscuits, shrimp bibimbap, shrimp skin shiitake powder, etc.
The supply chain is an early difficulty. “Baby greedy” did not adopt the OEM method, but directly participated in the research and development. However, China’s supply chain for scientific feeding food is not mature, and there are not many factories willing to try. From concept design, product development to raw material selection and process transformation, each link has a high threshold, which also makes “Baby Glutton” form a unique competitiveness at the product level.
Now “Baby Glutton” has established its own food laboratory with more than 30 cooperative factories. “Baby Glutton” is launched on the online channel, currently focusing on Tmall flagship stores. “Baby Glutton” chooses natural ingredients without chemical additions. Every month there will be 3-5 new products online, and a new product is developed. The cycle is more than half a year.
Baby is greedy
Compared with European and American countries, China’s baby health food market is still at an early stage. In terms of more subdivided supplementary foods, the size of China’s infant supplementary food market in 2008 was only 3.5 billion yuan, and it is expected to grow to 20 billion in 2020, but the penetration rate is still less than 20%.
Pan Pan and Vice President Pei Lan, the managing partner of Tiantu Capital, said that with the acceleration of urban life, parents born in the 80s and 90s have an increasing demand for convenient and healthy pre-packaged healthy food supplement products. In the past, the Chinese market was dominated by international brands such as Jiabao and Xiaopi. In the future, domestic brands that are more suitable for Chinese babies will have great development potential.
In this context, Tiantu Capital has successively exclusively invested in “Baby Glutton”, and the latter’s performance has also achieved explosive growth in 2020. Chen Sheng believes that this is a natural result of the company’s accumulation for many years-team capabilities, product capabilities, user accumulation, industry awareness and other dimensions have broken through a critical point.
Different from other food fields, the maternal and infant food industry places more emphasis on trust relationships, because users will also have high stickiness. According to reports, the average customer unit price of “Baby Glutton” is around 300 yuan, and the 30-day repurchase rate reaches 50%.
The team said that after this round of financing, the company will continue to increase product innovation and supervision to provide better products for the majority of mothers. At the same time, the company will form its own offline team in 2021 to expand its channels to offline.
“Baby Glutton” is headquartered in Hangzhou and currently has a team of more than 400 people.