Pet product supplier Petco led a $10m series A round on Tuesday for Petnet, a US-based developer of personalised pet feeding technology, investing alongside venture capital fund Aspiration Growth.
Foudned in 2013, Petnet provides smart feeding systems for pets that measure out precise portion sizes based on their age, weight and activity levels, as well as a pet nutrition advice app. Its products will be sold at Petco branches from this week.
Carlos Herrera, Petnet’s co-founder and CEO, said: “Petnet was born out of love for our pets and the passion to improve their lives. We are pleased to partner with Petco to leverage their know-how and existing infrastructure to reach more pet owners across the US.
“These new funds will enable us to further develop our personalised pet feeding service to keep pets everywhere happy and healthy.”
Petnet raised $4m in an October 2015 round featuring e-commerce company Amazon’s Alexa Fund, robotics technology producer iRobot, Aspiration Growth, which is an offshoot of online investment platform Aspiration, and Black River Ventures.
Hardware-focused VC fund Bolt had supplied an undisclosed amount of funding for the company in 2013, which was followed by $1.1m from Grishin Robotics, Kima Ventures, SparkLabs Global Ventures and Launch Capital the following year.
– Image courtesy of Petnet