GPS tracker for dogs and cats raises €28.6 million
The Austrian startup, Tractive, has closed €28.6 million ($34.9m) in growth funding.
Tractive first started selling devices in 2013 and has been cash flow positive ever since. With the investment, it will focus on customer acquisition and product development. Especially the US market is a key growth market, which is on track to become its largest market in 2021.
The company’s GPS device with real-time location tracking for dogs and cats currently has over 400,000 active subscribers across 175 countries.
The device not only registers the pet’s location, it also collects activity, sleep and motion data to monitor potential health issues or concerns.
(Source: EU-Startups.com)