Adelaide health start-up Goldilocks Suit is raising $275,000 to launch its commercial product and take its mission of reducing the anxieties of new parents to the next level. The raise is the first by an infant product company on Birchal, Australia’s leading equity crowdfunding platform.
Three years ago, Goldilocks founder Shem Richards was blessed with a daughter. At the hospital, his daughter was perfect and they had all the support that they needed. Then they brought her home and she started crying.
“In our sleep deprived and stressed mindset, we forgot all that information that we researched. We constantly questioned ourselves: Is she hungry? Is she too hot or cold? Is she tired?” says Shem.
“We set about coming up with a solution for parents that is easy to use and that answers the simple questions they so often have.”
This led Shem, a biomedical engineer, to found Goldilocks Suit – a smart baby monitoring product to help parents navigate anxieties of early parenthood.
In addition to breathing, body/room temperature, hunger and sleep tracking, Goldilocks Suit also monitors the behaviours seen in infants as they grow – also known as development milestones. This gives parents a wider understanding of the wellbeing of their child.
Goldilocks is designing the product especially for first-time parents with a focus on the segment between the ages of 25 to 34 years old. The initial market will be in Australia with plans to expand to an overseas market by 2024.
Goldilocks gained sector recognition when it was accepted into the MedTech Actuator in 2019, a venture-backed program that aggressively funds and accelerates medical, health and biological technology start-ups, working alongside venture partner Artesian to support start-ups on their journey.
As Director of Wink, Dr. Michael Gradisar is delighted with this agreement.
"We're excited to be able to team up with Goldilocks Suit. It's an intuitive partnership - that at its heart - is dedicated to help families navigate the roller-coaster ride of their baby's sleep."
"At the end of the day, we're all about sleep education - transferring those pieces of information that we know are backed by scientific evidence. So we know they work."
These partnerships will provide parents with exclusive in-app content. They will be able to access clinician-grade advice when they need it most.
With twelve months of product development and numerous rounds of product testing under its belt, Goldilocks is taking its next step. This includes finalising its release product, conducting a limited product launch and starting to manufacture the product for sale.
“The timing is now for another round of capital to fuel our growth, especially with digital health in the spotlight” says Shem. “We also want to give our supporters an opportunity to own a share of our company and shape the future for soon-to-be parents.”
The Goldilocks Suit crowdfund campaign is live on Birchal and can be seen here. Express your interest and be among the first to be updated on Goldilocks’ offer progress. Always consider the general CSF risk warning and offer document before investing.
Find out more about Goldilocks at www.goldilockssuit.com or follow their journey on Instagram, Facebook and LinkedIn at @goldilockssuit
The Godlilocks Suit is a It provides new parents peace of mind whilst monitoring and recording your baby’s temperature, sleeping patterns, breathing, feeding and development.