High-tech baby gear company 4moms raises $40 mln

Pittsburgh-based 4moms, which uses robotics technology to make high-tech baby products, such as swaying infant seats and power-folding baby strollers, has raised $40 million in new funding.

Castanea Partners led the round, with participation from existing investor Bain Capital Ventures.

CEO and co-founder Rob Daley told peHUB that the company has now raised $83.8 million in total equity since it was founded in 2005, including a $20 million infusion two years ago that was led by Bain Capital Ventures.

As part of the latest round, Robert Smith, managing partner of Castanea, has joined the board.

Daley, whose LinkedIn bio says he was a general partner at PNC Technology Investors before turning entrepreneur, said that the company will use the new funding for product development.

4moms sells its high-tech baby gear in 2,000 retail locations nationwide. The venture-backed company has distribution in 52 companies and reported $30 million in revenue in 2013. It currently employs 180.

Photo of 4moms products courtesy of the company.