The German firm is looking to develop its brand and retail footprint after a capital injection.
Cologne-based pet supplement company Mammaly raised €14 million ($14.9M) in a Series A round, led by both consumer specialist fund Iris Ventures and food tech fund Five Seasons Ventures, joined by pet food and consumer specialist Attila Balogh.
The company, that was founded 3 years ago, plans to split the funding between investing in brand and community development, expanding its product portfolio, solidifying its direct-to-consumer (DTC) business.
At present, Mammaly sells its supplements through German retailer Fressnapf but it wants to scale its presence in the retail channel after the funding.
“Roughly 80% of pet revenues in Germany are generated offline” explains co-founder and co-CEO Alexander Thelen to GlobalPETS.
The company’s product portfolio expansion plans include additional pet supplement solutions for pet owners in different categories and formats with the goal of offering a holistic portfolio covering all pet health needs.
The company is currently only active in DACH (Germany, Austria and Switzerland) but the plans for international expansion are also on the horizon.
What attracted investors?
Thelen notes that even the challenges they noted an increased interest of investors in the pet supplement category.
“Supplements are perceived as one of the most attractive categories in pet with strong growth and high margin potential,” he says. “We have seen fast category growth in the US, and we are seeing similar developments in Europe, where the category is gaining some significant momentum.”
Celia Bosch Torres, Partner at Iris Ventures, complimented the co-founder and CEO’s approach and added: “Mammaly not only has a unique strategic position, but it has strong founding and leadership in place.”
“The most exciting thing is we are just getting started. With our offline launch and SKU expansion, we are further strengthening our leading position in the European pet supplement space,” comments Saskia Hoebee, Principal at Five Seasons Ventures and Mammaly Board Member.
Furthermore, the company has just received B-Corp certification, which means they are meeting the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.
The latest articles
Japanese officials launch inspection to curb pet sales
Local governments want to limit the number of dogs and cats allowed by breeders and pet specialists.
Italian pet wellness company Jampy secures €1 million investment
The Milan-based firm wants to expand its portfolio across Europe and beyond.
Interzoo 2024: record-breaking over 2,000 exhibitors
The leading international trade fair for pet supplies will host exhibitors from 69 countries in the German city of Nuremberg in May.
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.