5 recently funded pet companies to keep on the radar

Startups and small pet companies around the world are heating up the pet market with new technologies and solutions. And for brands that are still growing, business rounds are an important tool in order to ensure future growth and expand their projects on the market.

These are the companies that have recently received investments and that are worth keeping an eye on.

Modern Animal

Modern Animal received a Series C funding round in a total of $75 million in investment capital – bringing its total funding raises to $164 million since 2021, when it was first launched.

The West Coast-based startup is trying to reinvent the pet care business in the US with a membership model whereby pet owners pay an annual fee of $129 with 24/7 access to vets and telemedicine.

The company, which has four clinics in Los Angeles, is opening a new branch in the Sao Francisco region. It also plans to open four new clinics in California by the end of 2023.

Modern Animal is betting on a positive scenario for the industry, where ownership has grown strongly during the Covid-19 pandemic. Nearly 50% of Americans have at least one pet in the family, according to US Census Bureau’s American Housing Survey.

“Our goal is to build a better, more sustainable career for veterinary professionals and a better, more human experience for pets and their owners by examining every nook and cranny of the industry and fixing any problem we can find,” claimed founder and CEO Steven Eidelman.

KatKin

Founded by Brett and Nikki O’Farrell, this British start-up specializes in fresh-cooked food subscriptions for cats.

Earlier in August, the company raised a Series A funding of $28 million, led by Verlinvest and Perwyn, along with Kreos, previous investor Octopus Ventures and Strategic Angels.

With this new funding, KatKin will invest in growth, personalized health plans, and new research. The British company also intends to expand its manufacturing facility.

KatKin co-founder Brett O’Farrell claimed that demand for their services is “huge”. “Every six months we’re doubling in size and customer base.”

The company also developed a health tec platform, where algorithms help pet parents to build personalized boxes of fresh meals, taking in consideration the cat’s age, weight, activity level, body shape and favorite flavors.

BUCATSTATE

Founded in 2019, BUCATSTATE is a Chinese startup focused suppling food for small pets, mainly hamsters, rabbits and birds.

The company has completed a Pre-A financing round led by Goldin Capital and Co-share Capital. The total value was not revealed, but according to some sources the amount surpasses CNY tens of millions.

The funding will be used for new product development and supply chain integration.

According to the company, the small pet industry in China is worth around CNY 10 billion ($1.5 billion) with “strong growth potential.”

EPET

EPET is a Chinese company that specializes in providing omnichannel management services for pet brands since 2018.

The number of global companies represented by EPET surpassed 50, and over 1,300 cooperative brands had showcased products in EPET website, with more than 4 million registered users to date.

Recently, the company raised CNY 400 million ($60 million) from Ringpu biotechnology conglomerate.

Yuanfei Pet

According to Equal Ocean, pet toy manufacturer Yuanfei Pet raised CNY 468 million ($67.7M) from its IPO on the Shenzhen Stock Exchange on August 18. The company’s shares rose 35% on the first day of trading.

Founded in 2004 in the industrial Chinese city of Wenzhou, it produces pet toys, dog leashes, pet bowls, pet supplies and pet foods such as dog chews.