CBD, biotech and AI: tracking the latest capital injections in pet care

From food and biotech to AI, companies across the West are bringing in millions to innovate and expand.

Anivive

California-based Anivive Lifesciences announced a $20 million (€19.2M) investment from Leonid Capital Partners. The biotech firm develops vaccines, therapeutics for pets, genetic analysis and AI imaging.

The capital injection will go toward commercializing the firm’s new vaccine for valley fever, a fungal infection that spreads in pets throughout arid regions like the American Southwest. Anivive says it could be the first antifungal vaccine ever produced for any species if approved by the US Food and Drug Administration (FDA) or the United States Department of Agriculture (USDA).

The company recently signed a $33 million (€31.7M) contract with the National Institutes of Health (NIH) to develop a human vaccine for valley fever.

Vetigenics

Another biotech firm, Philadelphia-based Vetigenics, received $6 million (€5.8M) from private equity funding partners. The company specializes in antibody therapeutics for pets.

Vetigenics recently announced that 2 of its product trials have been successful. The company’s treatments for oral melanoma and urothelial carcinoma in dogs showed promising results, which are slated to be published this year.

The funding will go toward advancing more products to clinical trials.

Kradle

Kradle, a company that specializes in cannabidiol (CBD) treats for dogs, recently closed a Series 3A round of investments that raised $4 million (€3.8M).

The Minnesota-based company launched in 2020 and has since built a portfolio of daily supplements. Its website offers direct-to-consumer sales of CBD and non-CBD products for mobility, calming, skin and dental care.

“We’re looking forward to continued growth as a market leader with the support from our incredible network of valued retail partners,” the company says in a LinkedIn post. “We are thrilled to keep bringing new and innovative products to the market to build on our mission of enhancing pets’ lives through accessible and effective wellness!”

The company did not specify what the $4 million would go toward.

Lupa

British tech firm Lupa closed a £3.3 million ($4.1M/€4M) investment round in January, with money coming from various angel investors. The company offers AI-native veterinary practice management software and an app for vet customers, with an “AI Pet Vet” included.

“The veterinary industry desperately needs modern software solutions that can help practices handle growing demand while reducing administrative burden on overworked staff,” says CEO and Co-Founder Nicolò Frisiani.

The money is going toward expansion across the UK. Lupa states it has already started onboarding more vet clinics since the funds came in.

Wilsons Pet Food

Wilsons, a pet food company based in Ayrshire, UK, has received £1 million ($1.25M/€1.2M) from the Investment Fund for Scotland (IFS). This fund is operated by the British Business Bank (BBB), a public agency that manages the UK government’s lending and investment programs for small businesses.

According to Maven, a firm that manages the IFS, the money will be used to expand into new product categories and enhance production capabilities.

Wilsons’ cold-pressed and raw/frozen food is sold directly to consumers via its website and retailers across the UK.