Dive Brief:
- Baby and toddler brand Lalo raised $10.1 million in a Series A funding round, according to a company press release on Tuesday.
- The direct-to-consumer brand’s fundraising was led by Spin Master Ventures with participation from Babylist, Kevin Durant and Rich Kleiman's 35V, as well as Ilia Beauty Founder Sasha Plavsic's Untold Holdings.
- Lalo’s new funding will be used for product innovation, customer experience enhancements and increasing brand reach. The company plans to expand its footprint domestically and globally, as well as unveil new products in the coming year.
Dive Insight:
Lalo was created with the goal of disrupting what it calls the crowded baby and toddler market.
"We're thrilled to be at this exciting inflection point in our business. We can't wait to build deeper connections with families as we continue to launch more products and challenge the status quo of the juvenile products industry," Greg Davidson, Lalo co-founder and CEO, said in a statement.
Lalo previously launched a collection with furniture retailer West Elm in July 2022. The collection — which was available on Lalo’s website as well as West Elm and Babylist — included a 3-in-1 high chair, a play kit with a small table and two kits with dishware and bibs. Prices ranged from $35 and $330.
The baby and toddler brand raised $5.6 million in a seed funding round in 2021, according to reporting from Retail Brew. At the time, Davidson told Retail Brew that “having launched truly prior to the pandemic and being digitally native, it really allowed us to step on the gas pedal during that time.”
The brand’s focus is on making “smart, functional and stylish products for modern families.” Lalo sells a variety of products including high chairs, bibs, play gyms and more.
