Kidsy, a break-out e-commerce company that helps keep
merchandise out of landfills by bringing discounted baby and kids
products to consumers, launches out of beta with an oversubscribed
round as popularity of circular economy grows.
CHICAGO, March 28,
2024 /PRNewswire-PRWeb/ -- Kidsy, a disruptor in
online retail, has raised over $1M to
provide consumers greater access to discounted baby and kids
products. The pre-seed round, which was oversubscribed, is the
company's first round of funding after launching from its beta
phase in September 2023.
Revenue has grown 5X over the last six
months which has been a tremendous signal for us as a team that
what we offer our customers and our brand partners is much
needed.
New York-based Impellent
Ventures and its partners David
Brown, Phil Beauregard and
Tariq Trotter (aka Black Thought)
led the round. Other notable investors include Hustle Fund,
Everywhere Ventures, Responsibly VC and The Fund Midwest.
A strong cohort of angel investors also joined including
DraftKings co-founder and CEO Jason
Robins, Initialized Partner and Rent the Runway co-founder
Jenny Fleiss, Butcherbox founder
Mike Salguero, Trucks VC founding
partner Reilly Brennan and Kalibrr
(YC W13) co-founder Sanuk Tandon.
Kidsy was co-founded by two immigrant founders, Indian-born,
business journalist Shraysi Tandon and Turkish-born, software
engineer Sinan Sari.
"Startups succeed based on a phenomenal leadership team acting
on a unique insight. In the case of Kidsy, Shraysi and Sinan are
special talents who could open doors in any market they chose,"
said David Brown, Managing Partner
of Impellent Ventures. "We are excited about the customer
experience they have created for new parents to care for their kids
more effectively in a more economical and environmentally friendly
way. Kidsy is solving several very real pain points for parents and
breathing innovation into a staid marketplace," Brown added.
Kidsy democratizes access to products for babies and children by
partnering with leading brands, retailers and liquidation companies
to help manage their overstock and returns inventory. Kidsy offers
these products to consumers at deep discounts, preventing these
overstock and liquidation items from ending up in landfills. Every
year customer returns account for over 9 billion pounds of landfill
waste. Kidsy is diverting these products from being shipped to
other countries and away from landfills, back into the hands of
consumers.
"Revenue has grown 5X over the last few months which has been a
tremendous signal for us as a team that what we offer our customers
and our brand partners is much needed at a time when inflationary
pressures and inventory glut is at an all-time high and consumer
shopping behavior is changing at a rapid clip," Shraysi Tandon,
co-founder and CEO, of Kidsy said.
Liquidation is a $650 billion
industry annually in the U.S. The market for secondhand baby and
kids products is expected to reach $12.8
billion by 2030, driven by advancements in technology and a
surge in popularity of secondhand shopping.
Kidsy eliminates geographic limitations of a social media
marketplace or brick-and-mortar store, offering a wide selection of
new and open-box items including strollers, car seats, toys, travel
gear, nursery furniture and other baby essentials.
For media inquiries, please contact Melissa Bill at melissab@elkordyglobal.com
or
+1 (786) 285-0426; or David Jones
at djones@elkordyglobal.com or +1 (518) 390-5631.
About Kidsy
Kidsy is headquartered in Chicago with warehousing operations in
Sioux City, Nebraska. The Illinois-based company says being
strategically located in the midwest allows the company to keep
costs low and also positions them to be equi-distance from key
shipping zones, retail partners and infrastructure systems.
For more information on Kidsy, visit: www.kidsy.co
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SOURCE Kidsy