Latest pet industry investments in biotech, alternative ingredients and tech

Investment activity remains strong across the pet industry, as companies in the tech, food and health segments raise new capital to scale their businesses, enter new markets and strengthen product offerings.

Innovafeed

French insect ingredient producer Innovafeed is entering a new phase of growth following a €51 million ($58.7M) funding round backed by long-term investors, including ADM and banking partners.

The new capital will support the expansion of Innovafeed’s Hilucia portfolio of black soldier fly (Hermetia illucens) larvae-derived ingredients in the pet food, animal nutrition and aquaculture sectors. It will also fund industrial equipment and processes to develop new applications and increase the industrial assets and capacity of its production facilities.

As part of this new phase, the company will reduce its zootechnical R&D activities and integrate operations from the Gouzeaucourt site into its Nesle facility, both in northern France. 

For Innovafeed’s CEO and Co-Founder Clément Ray, the scale-up of their industrial model is a “major milestone” and opens up a new phase of commercial deployment.

“Innovafeed is now focusing its efforts on accelerating the development of value chains for its ingredients, capturing the full value of their multiple functional properties, improving animal health and growth, which have been validated and proven for 10 years now,” he concludes. 

Travv

Vet tech startup Travv closed a $1.6 million (€1.4M) seed round led by venture capital (VC) firm Digitalis Ventures, with participation from pet-focused VC fund AniVC.

Travv will deploy the new capital to develop its AI-native diagnostic platform for veterinary medicine, including product expansion, hospital onboarding, and commercial growth. The infrastructure will initially focus on radiology workflows, followed by broader AI-enabled diagnostic services in the long term.

“We’re building Travv to create a seamless experience for both hospitals and diagnosticians, while laying the foundation for the next generation of diagnostic tools,” says Derick Whitley, Founder and CEO.

Golden Child

US-based fresh dog food brand Golden Child raised $37 million (€32.2M) to develop a new food system for dogs with support from venture investors Atomic, A* and Redpoint Ventures. The food system includes nutrient-rich fresh food formulated to provide functional benefits, as well as a proprietary supply chain.

“Funding has been used thus far to bring together a cross-functional team of experts in veterinary nutrition science, culinary research and development, health and wellness, and direct-to-consumer operations,” Quentin Lacornerie, Co-Founder of Golden Child, tells GlobalPETS.

“[It] will continue to be used for product development and innovation within supply chain infrastructure,” he adds. Golden Child’s portfolio includes Mais, a protein base with functional ingredients, and Drizzles, nutrient-rich toppers made with collagen, biotin, eggshell membrane and vitamins.

Petwealth

Miami-based pet diagnostics firm Petwealth is raising a pre-seed funding round after securing a total of $1.7 million (€1.5M) from strategic investors, including Predictive VC, NOA and Generous Ventures.

According to Petwealth, the funds will be used to advance its diagnostic platform, support ongoing product development and expand strategic partnerships. “Growth is driven by increasing demand for preventative pet care, at-home diagnostics and more connected, data-driven health solutions,” the company tells GlobalPETS.

Petwealth’s AI-powered health intelligence platform for dogs and cats provides proactive, personalized health insights through at-home diagnostic testing, which the company says enables pet owners to access clinical-grade health data before symptoms appear.

Meatly

Meatly, a London-based producer of cultivated meat for pets, announced in May that it raised £10.4 million ($14.1M/€12.2M) in a Series A funding round led by Clean Growth Fund, Oyster Bay, JamJar Ventures, Jim Mellon and existing investors.

With the investment, the company will develop a 20,000-liter bioreactor facility in London, scheduled to launch in 2027 and expected to be one of the largest of its kind in Europe. According to Meatly CEO Owen Ensor, the move will allow it to scale commercial viability and begin the continuous production of Meatly Chicken for the UK pet food market.

The financing follows £7.1 million ($9.7M/€8.3M) in seed funding from founding investor Agronomics and retailer Pets at Home, bringing Meatly’s total capital raised to £17.5 million ($23.8M/€20.5M). 

Following the Series A round, Agronomics values its stake in Meatly at £3.2 million ($4.4M/€3.7M) and will hold an 11.57% equity stake.