🐶 Industry News
- Amazon announced that May 2 will be the first ever Amazon Pet Day. Kind of like Prime day for pets, the company will offer discounts on products from Furbo, PetSafe, Frontline and other pet brands. Customers can also create a pet profile and receive personalized recommendations and coupons based on various factors such as breed and size. If your company plans on participating in the event, let me know how it works out for you.
- The Pet Business Professor, who tracks all things pet, is pegging pet inflation at 7.5% compared to last year. Prices of vet services and supplies are increasing at the fastest rate.
- US pet insurance company Pets Best has landed its 500,000th insured pet this month. The Boise company was purchased by financial services company Synchrony in 2019.
|
|
💰 Financing & Deals
- Vetster, a Toronto-based telehealth startup, landed a $30 million Series B round. One of the investors is PetMed Express, an online pet pharmacy, that will also give Vetster access to its 2 million customers.
- MoeGo, a California startup that makes software for pet groomers, closed a $6.5 million Seed round. Founded in 2019, MoeGo has more than 7,000 customers.
- Pawfectly Made, a Bengaluru-based fresh pet food startup, received a $1 million investment from Licious, an Indian D2C unicorn.
|
|
Do you have a friend or colleague interested in the pet industry?
Please share this newsletter by forwarding below.
|
|
|
🤷♂️ Somewhat Relevant
- A 21 year old Chihuahua broke the world record for being the world's oldest dog.
- Scenthound, a membership-based dog grooming franchise, is slated to open its 145th location this year.
- SwiftPaws, a Florida maker of dog games, sold over $100,000 worth of product in one day after appearing on Shark Tank this month. The company struck a deal with shark Lori Greiner, who took a 6% equity stake in the company.
|
|
😸 I'm looking for pet industry pros to feature in this newsletter
Do you run a pet startup or invest in the pet industry? I would like to hear your story. Shoot me an email and we can set up a time to chat.
|
|
|
|
|
