Milkify’s valuation after Gwyneth Paltrow deal

Preserving breast milk is convenient for nursing mothers and ensures that important nutrients are maintained. Milkify is a service that uses a freeze-drying process so mothers can powder their breast milk for up to three years without refrigeration. Berkley Luck and Pedro Silva have reached an agreement with Gwyneth Paltrow and Lori Greiner. Milkify is now worth an estimated $2 million.

Founder

Berkeley Luck and Pedro Silva are a married couple from Houston, Texas. Berkeley holds an MD from Baylor College of Medicine, and Pedro holds a BA in Economics from Rice University.

Before starting his own company, Berkeley was a consultant for Solarea Bio, while Pedro was a web developer and later an investment banker at JPMorgan. He also spent five years as an assistant vice president at EIG Global Energy Partners.

Founding Milkify

As a graduate student, a colleague at Berkeley was having trouble expressing and preserving breast milk, and as Luck was researching probiotics, she was inspired to create a solution that could preserve the beneficial bacteria in breast milk.

She uses a freeze dryer in her research and applies it to her work, which keeps breast milk from coming into contact with any equipment and gives it a shelf life of at least three years.

Berkley and her husband founded Milkify in 2019. But rather than inventing a product, they created a service. Their company sends delivery kits to customers, who fill the package with a sealed bag and mail it back.

Appeared on Shark Tank

Initially, the company operated through a van that traveled around town advertising its services. In 2021, the founders raised $1.2 million in funding from MassChallenge and invested in a 6,400-square-foot facility.

They also hired more employees, most of whom are mothers. Since its founding, the startup has helped save more than 500,000 ounces of breast milk. While waiting for patent approval, the founders hope to increase capital and scale operations.

After Shark Tank

Although the product didn’t appeal to the typical audience watching Shark Tank, it gained significant traction after its appearance on TV. And the deal with Lori and Gwyneth doesn’t appear to be over. They now claim to have over 6,000 satisfied customers.

If you want to experience their service for yourself, visit their website at Milkify.me. People who live in Texas and Irving can have their breast milk sent to their office. People outside of the area can only have their milk delivered. Milkify simplifies the shipping and delivery process, making it an efficient and hassle-free service for their customers.

The startup has 140 reviews on Google with an average of 5 stars. The company is growing rapidly and has 10 full-time employees. Milkify’s valuation is estimated to be around $2 million, as it is still a young startup. Only time will tell if they can remain profitable over the long term. Previous baby products on Shark Tank, such as Hatch Baby, have been huge successes!

Categories: Shark Tank
Source: svlsf.edu.vn