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eKapija |
Wednesday,
13.11.2024.|
12:16
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Copy linkLocal startup Baby Boo collects EUR 1.1 million in investments – Expanding operations to 28 EU states and China
The local startup Baby Boo, whose product are meant for skin care, and whose co-founders are Marija Hudolin and Tatjana Pandurov Radovic, has collected a total of EUR 1.1 million in investments through pre-seed and seed financing rounds. The funds were secured by strategic partners, including a grant from the Katapult innovation fund. Baby Boo now plans an expansion to 28 countries of the European Union through cooperation with the large online cosmetics trader Notino, as well as an entrance to the Chinese market through an agreement with the distributor, which will provide them with additional recognition as a registered brand in Asia.
– The love for children, nature and the sense of responsibility have motivated us to launch Baby Boo. Incited by a lack of healthy and quality products for skin care for our children, we decided to secure for us and all moms a healthy alternative. A detailed market analysis confirmed our vision, and during the pandemic of 2021, an increasing number of people turned to a healthy lifestyle, so the moment was right – the founders say in an official announcement by Katapult Akcelerator.
They add that they are proud that they have closed the pre-seed round and found the right investors with the estimate of the value that they initially wanted as a share in the company that they were ready to offer.
– Based on the estimate of the value of our company in March 2024, we managed to collect EUR 300,000 from two angel investors that are strategic partners that are fully harmonized with our vision. Along with that, we also got a grant of EUR 300,000 from the Katapult fund (Innovation Fund). Our investors have recognized our brand as a brand of high quality, because they were able to identify with our vision. We can say that we have closed the round using our products and its story. We recently closed the seed round for EUR 500,000 with another angel investor that is a perfect partner for us – they say.
Presence in 28 EU states
Having covered the regional market, Baby Boo started expanding to the European market through strategic cooperation with Notino, a leading online trader of cosmetics in the EU. Now their products are available in as many as 28 European countries, whereby the brand gains added visibility and becomes available throughout the continent.
Entry to Chinese market as registered brand
The agreement with the big distributor has enabled Baby Boo to enter the Chinese and Asian market, where, through a formal registration process, it will become recognized as an importing brand in China. It is interesting that, while most of the world imports from China, Baby Boo exports its products there. The quantity of the first order far surpasses what the brand has so far placed in the regional market, whereby Baby Boo becomes an example of success from Serbia on the global scene.
– The love for children, nature and the sense of responsibility have motivated us to launch Baby Boo. Incited by a lack of healthy and quality products for skin care for our children, we decided to secure for us and all moms a healthy alternative. A detailed market analysis confirmed our vision, and during the pandemic of 2021, an increasing number of people turned to a healthy lifestyle, so the moment was right – the founders say in an official announcement by Katapult Akcelerator.
They add that they are proud that they have closed the pre-seed round and found the right investors with the estimate of the value that they initially wanted as a share in the company that they were ready to offer.
– Based on the estimate of the value of our company in March 2024, we managed to collect EUR 300,000 from two angel investors that are strategic partners that are fully harmonized with our vision. Along with that, we also got a grant of EUR 300,000 from the Katapult fund (Innovation Fund). Our investors have recognized our brand as a brand of high quality, because they were able to identify with our vision. We can say that we have closed the round using our products and its story. We recently closed the seed round for EUR 500,000 with another angel investor that is a perfect partner for us – they say.
Presence in 28 EU states
Having covered the regional market, Baby Boo started expanding to the European market through strategic cooperation with Notino, a leading online trader of cosmetics in the EU. Now their products are available in as many as 28 European countries, whereby the brand gains added visibility and becomes available throughout the continent.
Entry to Chinese market as registered brand
The agreement with the big distributor has enabled Baby Boo to enter the Chinese and Asian market, where, through a formal registration process, it will become recognized as an importing brand in China. It is interesting that, while most of the world imports from China, Baby Boo exports its products there. The quantity of the first order far surpasses what the brand has so far placed in the regional market, whereby Baby Boo becomes an example of success from Serbia on the global scene.
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