Singaporean subsidiary of Chinese pet lifestyle brand raises $50 million
VETRESKA receives a strategic investment to reorganize its business and prepare for further growth.
VETRESKA’s pet supplies and pet food divisions will be spun-out as two stand-alone businesses. The new Singapore subsidiary, VETRESKA FUTURE PET FOOD, will manage the pet food business.
Through this new business and organizational restructuring, the group is able to make its management more efficient, brand and product distribution more targeted, and launch a more comprehensive range of pet foods and supplies.
VETRESKA co-founder and CEO Donald Kng said:
“We are very excited to receive this level of recognition from our experienced investment partners. Since our inception in 2017, VETRESKA has achieved strong growth worldwide. Today as we stand on the precipice of the next step forward as a company, we believe that this new joint venture will not only serve as a catalyst on which we propel ourselves forward, but also the ideal vehicle with which we effectively solve our past upstream deficiencies.”
Sales channels
VETRESKA sells its products for cats and dogs across the world: from Amazon to its own website for North American markets and distribution through retail in North America, Southeast Asia, Japan and Korea.
The company’s most popular products include Soil-free Cat Grass, Oasis Cactus Cat Tree, Watermelon Kitty Kove, and Bubble Pet Carrier.
From 2021 to June 2022, VETRESKA closed three financing rounds, for a total of more than $20 million.