- Direct-to-consumer cookware company Caraway announced that it raised $5.3 million
Caraway, a direct-to-consumer company that sells cookware recently announced that it raised $5.3 million in a seed round of funding. Jordan Nathan, founder and CEO at Caraway, told TechCrunch that he had become interested in cookware after burning a Teflon pan and learning more about Teflon poisoning.
Even though nonstick materials like Teflon are used in most cookware sold in the U.S., there are health risks when those types of pots and pans overheat. Caraway sells non-toxic and eco-friendly pots and pans that are premium quality. The company offers a four-item cookware set for a price of $395 and it also has pot and lid holders.
“Caraway has been focused on sustainable growth since day one. We’re only a few months old and growing very fast, but at the same time, we’re focused on cutting cost and making sure every dollar returns a profitable first purchase from consumers,” said Nathan via TechCrunch.
This round of funding was provided by over 100 investors, including
Republic Labs, Springdale Ventures, Wesray Social, Bridge Investments, WTI, CompanyFirst, G9 Ventures, Super Angel Syndicate led by Ben Zises, Five Four Ventures, Bonobos co-founder Andy Dunn, PopSugar co-founder Brian Sugar, Glossier and Arfa executives Henry Davis and Bryan Mahoney, Nik Sharma of Sharma Brands, and One Kings Lane co-founder Ali Pincus.
“Many people think direct-to-consumer brands are going to struggle in this new economy. From being an investor in two dozen brands, the truth is more nuanced: some are really flourishing. Caraway had strong momentum at launch, with a clear vision from founder Jordan Nathan around the future of home goods. The COVID-19 pandemic then amplified that momentum with the surge of in-home cooking. Caraway’s out of the gates growth rate is in the top 1% of what I’ve seen in DTC brands. This is not a pots and pans company, this is a disruptor to traditional brick and mortar multi-category home brands,” explained Dunn.
Caraway also expanded into other kitchen lines. And it will be moving into other home products.
