WINSTON-SALEM – MOMI Brands, Inc., a Winston-Salem-based startup backed by Kapstone Medical and Enventys Partners, has raised an additional $2,079,000 of a possible $10 million total fundraising round, as of June 2, 2021, according to an SEC filing.
The types of securities offered include debt financing and a security to be acquired upon the exercise of option, warrant, or other right to security, according to the filing.
The company announced that it had raised a $1 million seed round in November 2020, with participation from Kapstone Medical, Enventys Partners, and the Start100 Fund, all of which are based in Charlotte, N.C., and who partnered with the company to develop its breast pump technology.
Winston Salem startup MOMI Brands raises $700,000 in debt, still looking to raise roughly $9M more
The company will use an estimated $1 million as compensation of its executive officers, directors, or promoters, according to the filing. In total, thus far, 40 investors have participated in the round.
The company mission is to make life better for moms and their babies with technology that work like nature, and that is what has driven the company’s development of its feeding systems.
Prior funding brought in by the company was described as being allocated to develop and commercialize the patented technologies that MOMI Brands had developed.
Founder and CEO, Carr Lane Quackenbush, formerly led the U.S. division of Medela, a breast pump manufacturer. Quackenbush founded MOMI Brands after retiring from Medela, with the goal of delivering a breast pump or infant feeding system that replicated the important biomechanical properties of natural nursing.
“I really do believe that these products will replicate nature, and will bring the advantages that we set out to bring to market,” Quackenbush said in a November 2020 statement.
