🐶 Industry News
- Purina Unleased, a European accelerator for pet startups, has announced the six companies accepted into it latest cohort:
- eniferBio (Finland) - alternative pet food made from fungi
- Feragen (Austria) - dog & cat DNA testing
- Kibus (Spain) - a cooking device that prepares dog food
- knok (Portugal) - veterinary telehealth
- MOA Foodtech (Spain) - alternative pet food made from the by-products of human food
- Vetwork (Egypt) - veterinary telehealth & at-home vet visits
These companies were chosen from more than 150 applicants across 28 countries. Each startup will receive 50,000 Swiss Francs ($51,000 USD) and advice from Purina management.
- Speaking of accelerators, applications are open for pet startups looking to expand into Asia. The new POUNCE program is a 5-month schedule of coaching, networking and education focused on breaking into the Asian pet market.
- Vet-AI, a UK veterinary telehealth startup, is using data to argue that online vets should be allowed to write prescriptions. Similar to most US states, the UK requires vets to physically examine a pet in person before prescribing medicine. However, this regulation was lifted during the pandemic, allowing Vet-AI to prescribe meds after a remote video consultation. The company is now using the results of its 21,000 video consults to demonstrate that online prescriptions are safe and the blanket ban on them is not appropriate.
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💰 Financing & Deals
- Rex, a Berlin-based vet clinic startup, closed a $5.1 million round. Founded in 2021, the company is planning to establish a chain of modern vet practices across Germany, similar to what Modern Animal, Bond Vet and Small Door Veterinary are doing in the US.
- Rarebreed Veterinary Partners, owners of 71 vet clinics throughout the northeast US, acquired Massachusetts-based Vet's Best Friend, a collection of 47 vet clinics. Rarebreed plans to continue shopping as its owner, private equity firm Revelstoke Capital, just raised $376 million to expand the business.
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😸 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.
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