Member Article

Beringea backs personalised baby gifts startup favoured by Elton John and Dannii Minogue

London-based venture capital (VC) house, Beringea, has contributed to a £5m growth funding round in children’s gift personalisation site, My 1st Years.

The VC firm led the round, which was also supported with funds managed by Hargreave Hale, with investment set to support developments in the Northampton business’ operations and marketing and drive expansion into the US.

Founded in 2009 by Daniel Price and Jonny Sitton, the site has found favour with some big-name celebrities, including Elton John and Dannii Minogue, while Prince George was snapped wearing one of their personalised dressing gowns when he met President Obama last year.

Price, who is Joint Managing Director at the business, commented: “We always had a lot of faith in the potential of this company, but we’ve really seen that come to life in the last year or so, and it’s time for us to build on the success we’ve already had. Funding is key to the next step for us.”

This latest funding round adds to the initial £2m investment My 1st Years secured from some high net-worth individuals, including Lord David Alliance, the co-owner of Jacamo and Simply Be, and follows the launch of its products in Harrods last month.

Speaking about the potential of the business, Investment Director at Beringea, Maria Wagner, said: “Daniel and Jonny are natural entrepreneurs. What they have achieved so far is particularly impressive given this is their first job out of university.

“Not only have they spotted a gap in the market and had the guts to go for it, they have also managed to secure the support of veteran ecommerce professionals, broker relationships with leading retailers in the country and create impressive buzz amongst the press and consumers.

“Their achievements so far give me immense confidence that they can really push on to the next level with support from us. We look forward to joining them on their journey.”

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