Babytech Boom: Millennials, Startups Pave Way For Growth

In fact, countless baby technology products, apps, gadgets and services are on the market (and have been for longer than a minute). But the demand for these products is stronger than ever as millennials lean into the comfort of technical solutions when starting families. However, some experts in the sector say it was not always easy to get a product on the market. Years ago, babytech was considered a niche market that few investors understood or wanted to get into. Today, anyone considering adding to their family can find technology for everything from fertility to potty training and beyond. As a result, many startups are successfully raising funds. Just this week, London-based Peanut, a social network for women, closed a $12 million Series A funding round led by EQT Ventures. Its Trying To Conceive community has grown to 1.6 million users since forming last November, according to the company. And some are even being acquired. In late March, San Francisco-based TotSquad announced the sale of its baby gear cleaning and repair services to BabyQuip, a baby gear rental service. Tot Squad’s self-described mission is to improve access to pre- and post-natal services for parents and children, “from pregnancy to the playground.” Feeding children One popular area of baby technology is nutrition and health, In fact,New York-based infant nutrition company ByHeart raised $70 million Series A round of funding. Finding the next big thing True Ventures Partner Ann Crady-Weiss started Hatch—Hatch Baby—in 2012 with her husband, David. Their first product was a night light and sound machine to help babies and children get rest. As the Menlo Park, California-based company grew, Hatch decided to focus on the whole family and unveiled its Restore product in January at the Consumer Electronics Show as an all-in-one sleep solution for adults. the product will unveil this week. Hatch’s Rest night light. About 4 million babies are born in the United States each year, according to the Centers for Disease Control, which means companies have nearly that many new customers annually to get their products in front of.

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