August 5, 2022
Cooper Pet Care, FirstVet & Chewy
🐶 Industry News
– Had the chance to speak with Michael Fisher, the CEO and co-founder of Cooper Pet Care, a Dutch veterinary telehealth startup. Michael met his co-founder last year at a workshop in Amsterdam for entrepreneurs put on by early-stage VC firm Antler. Instead of using inhouse vets, the pair is attempting to build a two-sided telehealth platform that connects pet parents with independent vets. Michael believes his experience as a general manager at Uber will help him build a business connecting buyers and sellers.
The telepet service launched in July and has already handled over 1,000 calls. Partnerships with a pet insurance company and a large dog sitting business has helped accelerate growth. The company just raised a $900,000 round and is exploring the addition of either an ecommerce or pet insurance component. Cooper plans to raise significant money next year, but is looking for angel investors in the short term. Michael can be contacted via LinkedIn.
– Online retailer Chewy has launched CarePlus, a suite of insurance and wellness plans to market to its 20 million active customers. The plans were developed with pet insurer Trupanion and are available in 31 states, with nationwide reach expected by the end of the year. This move continues Chewy’s push into the pet health sector, which has included a veterinary telehealth service and an online pharmacy.
💰 Financing & Deals
• Animol Discovery, a Boston-based veterinary pharmaceutical startup, landed a $34 million Series B round. Founded in 2020, the company is trying to combine the latest DNA technology with machine learning to create the next blockbuster pet med.
• Piedmont Animal Health, a North Carolina company that makes more than 30 pet meds, was acquired by Dechra Pharmaceuticals for $210 million. Piedmont is best known for it soft-chew pills that make it easier for pets to swallow.
🤷 Somewhat Relevant
• India’s pet market is growing quickly, but still only worth about $434 million
• NYT profile of a despised dog lawyer who defends dangerous dogs and sues vet clinics.