Cradlewise Rocks $7 Million Funding Round

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Cradlewise&comma; a baby technology company that makes smart cribs for babies&comma; has raised a seed round of &dollar;7 million led by new venture capital firm Footwork with significant participation from CRV and follow on from existing investors SOSV and Better Capital&period; Other notable investors participating include Katrina Lake &lpar;founder of Stitch Fix&rpar;&comma; Jeremy Cai &lpar;CEO of Italic&rpar;&comma; Dilip Goswani &lpar;CTO of Molekule&rpar; and Sonny Vu &lpar;ex-CEO of Misfit Wearables&rpar;&period;<&sol;p>&NewLine;<p>Cradlewise makes smart cribs with a built-in baby monitor that uses AI to learn the baby’s sleep patterns and adapts to changing needs&period; It’s a crib&comma; bassinet and monitor &&num;8211&semi; all integrated into one&period; It’s a baby’s sleep companion from birth to 24 months old&period; The self-learning crib spots the first signs of wakeup of the baby and starts rocking automatically along with soothing music to safeguard sleep&period; The crib is priced at &dollar;1&comma;499 and the company says it is sold out until April 2022&period;<&sol;p>&NewLine;<p>Co-founders Radhika and Bharath Patil invented Cradlewise to solve the sleep challenges they faced when their first child was born&period; They are inventors and have created tech that drives drones&comma; robots and smartphones for companies like Qualcomm and Texas Instruments&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We are so excited to be working with such well regarded VC firms and angel investors who have a deep understanding of connected hardware and the consumer market&comma;” said Radhika Patil&comma; Co-Founder of Cradlewise&period; &OpenCurlyDoubleQuote;We believe that Cradlewise is uniquely positioned in this competitive space as the only smart sleep product designed to impact an outcome and not just give notifications&period; We will continue to lead in this space by expanding the capabilities of the product in the areas of a baby’s health and safety&period;”<&sol;p>&NewLine;<p>Nikhil Basu Trivedi&comma; co-founder &amp&semi; General Partner at Footwork joins the board of this fast-growing startup in the &dollar;136&plus; billion child care market&period; &OpenCurlyDoubleQuote;Cradlewise is the only baby product in the market that uses deep tech and AI to learn the baby’s sleep patterns and growth trends&period; With software updates that build on this rich data&comma; a characteristic of the very best connected hardware companies such as Nest&comma; Peloton&comma; Tesla&comma; and Tonal&comma; Cradlewise is pioneering the connected nursery&comma;” said Nikhil&period;<&sol;p>&NewLine;<p>Mike Smith&comma; Footwork co-founder &amp&semi; General Partner&comma; and former President &amp&semi; COO at Stitch Fix&comma; said&colon; &OpenCurlyDoubleQuote;Baby care has always been a challenge&period; The pandemic has only made it more challenging for new parents&period; Cradlewise is on a mission to help sleep deprived parents so that they can spend more quality wake time with babies&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Cradlewise isn’t just a smart crib&comma; it is a mental health solution for parents&comma;” said Kristin Baker Spohn&comma; General Partner at CRV&period; &OpenCurlyDoubleQuote;Having spent much of my career focused on the intersection of technology and health&comma; Cradlewise is a great example of how smart technology can be used to help ensure that both babies and their parents can get a good night’s rest&comma; which is truly one of the most important elements for staying healthy&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;As a working mom of 3 kids&comma; I’m excited to see the next generation of solutions for our kids coming from parents themselves&period; Hearing Radhika’s founding inspiration&comma; to build a crib for her baby to solve the sleep challenges she experienced balancing work and family&comma; it is a mission and product I instantly connected with&comma;” said Katrina Lake&comma; founder of Stitch Fix&period;<&sol;p>&NewLine;<p>The company maintains offices in both the San Francisco Bay Area&comma; California and Bangalore&comma; India&period; The funds will be used to accelerate the company’s innovation and technology roadmap and grow their team with senior hires in marketing&comma; operations and product&period;<&sol;p>&NewLine;