Key investors are reported to include the wife of the founder of e-commerce giant JD.com, Zhang Zetian, Wroxby, an associate company of billionaire Kerry Stokes, Ellerston Capital and Chinese entrepreneur Albert Tse.
Expansion in South East Asia and China has been identified as a key priority, despite the turmoil in the latter’s infant nutrition market following new regulations last year.
The ensuing slowdown in the market has hit other Australian firms, such as the joint venture between Blackmores and Bega Cheese, and the efforts of the likes of Murray Goulburn and Bellamy’s.
Bubs, formed in 2015 by former Shakespeare Pies founder Anthony Gualdi and Kirst Carr, specialises in infant formula made from goats milk, marketed as a “nourishing alternative for toddlers with sensitive tummies."
“Naturally digested, our ADVANCED PLUS+ formula blends the highest quality goat whey protein with a balanced daily intake of essential fatty acids, vitamins, amino acids, Omega-3 DHA ARA and prebiotics,” says the company.
It also sells baby snacks, baby foods and porridge.
Carr said: “We believe with our differentiated premium product offering, capacity to deliver innovation quickly and strong links throughout Asia, the company has a bright future ahead.”
The shares, which were sold at 10 cents, were trading at around 14 cents by lunch time in Sydney today.