Communications equipment manufacturer Nokia and mobile chipmaker Qualcomm have exited US-based pet care hardware developer Whistle through an acquisition by pet food producer Mars Petcare, TechCrunch reported on Thursday.
The price paid by Mars Petcare, the pet food production subsidiary of confectionary manufacturer Mars, was “about $117m,” people with knowledge of the matter told Bloomberg on Friday. Whistle had raised $25m since it was founded in 2012.
Whistle manufactures smart dog collars capable of tracking location, activity and fitness by monitoring the pet’s steps. Users can also connect to a Whistle platform that manages a pet’s fitness progress and allows them to compare it to that of other dogs.
Mars Petcare owns 41 pet food and pet care brands including Pedigree, Whiskas, Cesar and Iams, and will likely utilise the data gleaned from the trackers in developing and marketing new products.
The company told Bloomberg in a statement: “We are excited about the opportunity our investment will bring us to in this new area of pet care technology.”
Nokia led Whistle’s $15m series B round in February 2015, investing through its Nokia Growth Partners unit, alongside Qualcomm, Melo7 Tech Partners, Queensbridge Venture Partners, DCM and Slow Ventures. Red Swan Ventures was among the company’s earlier investors.