Caraway is announcing today that it has raised a $5 M seed round with plans to expand their product line and further build out distribution channels The funding comes from over + investors with a balance of traditional venture capital funds consumer-focused angels and other successful entrepreneurs who lend their expertise in sustainable growth and profitability
Participants in the round include Republic Labs Springdale Ventures Wesray Social Bridge Investments WTI CompanyFirst G9 Ventures Super Angel Syndicate led by Ben Zises and Five Four Ventures alongside Andy Dunn Bonobos Brian Sugar PopSugar Henry Davis amp Bryan Mahoney Glossier amp Arfa Ali Pincus One Kings Lane Nik Sharma Sharma Brands and more
Since launching in November , Caraway has quickly disrupted the $2 1 Billion Cookware Market which is expected to reach $4 6 Billion by , by creating the first non-toxic and non-stick cookware product on the market
People are investing in their homes more than ever before and at Caraway we have been able to adapt and help consumers at a time where they need us most said Founder and CEO Jordan Nathan COVID-19 has shifted the way consumers are spending and has brands rethinking how they interact with consumers We’re excited to continue building our brand while leading the conversation around safe and sustainable cookware especially in a category that is often overlooked when it comes to toxins and eco-friendly solutions ”
Many people think direct-to-consumer brands are going to struggle in this new economy said Andy Dunn Caraway investor and the Co-founder of Bonobos From being an investor in two dozen brands the truth is more nuanced some are really flourishing Caraway had strong momentum at launch with a clear vision from founder Jordan Nathan around the future of home goods The COVID-19 pandemic then amplified that momentum with the surge of in-home cooking Caraway’s out of the gates growth rate is in the top % of what I’ve seen in DTC brands This is not a pots and pans company this is a disruptor to traditional brick and mortar multi-category home brands ”
The $5 M investment will transition Caraway from an early stage cookware startup and accelerate the brand into a global lifestyle brand With this latest round of funding Caraway plans to expand their product line offering a wider assortment of kitchen and home goods keeping within the brand’s core values around sustainability and non-toxic better-for-you products In addition to new product launches Caraway is creating new jobs and building their team to grow the brand globally through a thoughtful and robust omnichannel strategy
About Caraway
Caraway is on a mission to craft well-designed non-toxic ceramic cookware that thoughtfully raises the standards of what you cook with Simply put the products are designed to make your life easier and healthier no matter your level of expertise The direct-to-consumer home goods brand launched in the fall of 2019 with its first product collection-a non-toxic non-stick ceramic cookware set replete with a thoughtful pan and lid storage system and meticulous design details This 4-piece all-in-one set is not only high-design but also free of any nasty hard-to-pronounce chemicals often found in traditional cookware such as PTFE
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