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.
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.
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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
SOURCE Kidsy
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