December 2, 2022
Top Pet Care Funding 2022, Pets Table & HelloBello
🐶 Industry News
– I’m heading to Boston next week to attend the Petcare Innovation Summit. Let me know if you will be attending and want to connect. First beer is on me.
– Top pet care funding of 2022 (so far):
|The Honest Kitchen||$150M||Private equity||San Diego||Food||Premium pet food sold in over 6,000 retail locations|
|Modern Animal||$75.5M||Series C||Los Angeles||Vet Care||High tech vet clinics|
|INVETX||$60.5M||Series B||Boston||Pharma||Biotherapeutics for pets|
|Spot & Tango||$51.7M||Series
A & B
|NYC||Food||DTC dog food|
|Laika||$48M||Series B||Bogota||eComm||Chewy.com of Latin America|
|Petfolk||$40M||Series A||Charlotte||Vet Care||Vet clinic chain across the south|
|The Vets||$40M||Seed||NYC||Vet Care||At-home vet care|
– Dutch, a San Francisco pet telehealth company, has started offering pet insurance to its customers. For an extra $9 per month, customers can get accident-only coverage through a partnership with Pet’s Best. Will be interesting to see if this helps Dutch increase sales. In the past, accident-only coverage (which excludes illnesses & diseases) has proven unpopular with pet parents, mostly because they fail to read the fine print and assume every condition is covered.
💰 Financing & Deals
• Pets Table, a Mexico City-based DTC startup that ships meals to dogs throughout Mexico, closed a $2M Seed round. Founded in 2019, the company plans to expand into other countries next year.
• On a similar note, HelloBello, a Vienna DTC startup that also ships dog meals, landed a $2M Seed Round. The company focuses on the German-speaking markets and has delivered over 500,000 meals.
• Vetic, an operator of high-tech vet clinics across India, closed a $3.7M Seed round. The company currently operates 4 clinics, with plans to scale to 15 by next summer.
🤷 Somewhat Relevant
• Snoop Dogg is getting into the pet accessory business, releasing a line of toys, bowls, leashes and apparel. Surprised he isn’t offering CBD treats as well.
• A secret way to travel cheap: pet sitting.
• The Wildest, a pet news resource from Kinship, has launched a subscription service that combines telehealth & DNA testing.