Start-up for fresh pet food raises €17.4 mln
Butternut Box, the London-based fresh food delivery startup for dogs, has raised €17.4 million of new investment in a round led by European venture capital firms Five Seasons Ventures and White Star Capital.
Existing backers Passion Capital and Literacy Capital have also participated alongside debt financier Kreos Capital. The investment marks the fast-growing company’s intention to launch into Europe and build a leading pet wellness business.
Since launching in 2016, Butternut Box has produced more than 8 million meals for dogs across the UK and last year saw revenues grow by 700%. Dishes are cooked with fresh ingredients and portioned according to a dog’s breed, weight, sex and exercise regime before they are delivered to customers.
Founded by best friends Kevin Glynn and David Nolan, the company has continued to stress the importance of transparency in the pet food sector and believes strongly in quality ingredients with easy-to-read labels on packaging. The new investment aims to bring healthy, balanced diets to more pets across the UK and Europe. Alongside the funding, former SkyBet chief executive Richard Flint will join the Butternut board.
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