🐶 Industry News
- Recently spoke with Adam Light, co-founder of Throw Me a Bone, a high-end dog walking and services business in NYC. Adam and his partner were working on Wall Street when the 2008 recession hit. After losing their jobs and spending more time at home, they noticed many dogs being walked during the day. This prompted them to open a dog walking business on the Upper East Side. The bootstrapped business grew quickly and today the company operates seven locations across the city with a staff of 35 employees.
During the pandemic, the company pivoted and began offering additional pet care services instead of just walking: daycare, boarding, grooming and training. Adam sees his company as a pet services version of Bond Vet and Modern Animal - the new vet clinic brands that target upscale, urban pet parents. TMAB is looking to expand outside of NYC and is interested in networking with other pet industry pros. Adam can be contacted via LinkedIn.
- VC interest in European pet tech has dropped after a surge in investment fueled by the pandemic. According to PitchBook, $65 billion has been invested in European pet tech startups this year, a quarter of the amount invested in 2021.
- TrustedHousesitters, a pet-sitting platform, hits 100,000 members. The UK company claims it is the largest pet-sitting marketplace in the UK and the third largest globally.
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💰 Financing & Deals
- Modern Animal a Los Angeles-based vet clinic startup, closed a $75 million Series C round. The company plans to expand from 5 to 11 locations in California and then go national next year. The startup was founded by Steven Eidelman, the former founder of Whistle, a smart dog tracker that was acquired Mars Petcare in 2016.
- Katkin, a UK direct-to-consumer fresh cat food startup, raised a $22 million Series A round. The London-based company was founded in 2019 by a brother and sister team. The business plans to expand into the US next year.
- ZumVet, a Singapore veterinary telehealth startup, landed a $3.7 million Series A round. The company was founded in 2019 by the former CEO of Doctor Anywhere, a popular human telehealth company in southeast Asia.
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🤷♂️ Somewhat Relevant
- The National Association of Insurance Commissioners has passed a model law establishing clear rules for US pet insurers. Over 4.4 million pets are now insured across the US & Canada.
- Quebec is making cosmetic surgery on cats and dogs illegal.
- "Luna" is the most popular dog name in the US.
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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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