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Singapore pet food company raises funding

July 24, 2024No Comments4 Mins Read
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Singapore pet food company raises funding
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SINGAPORE — Pawprints Group, a company specializing in biologically appropriate and allergy-friendly pet foods, announced a seed extension funding round. The funding round represents a significant milestone for the company as it aims to bolster capabilities and operational capacity. 

Based in Singapore, Pawprints Group is the parent company behind the Pawprints and Heka pet nutrition brands. The company was founded by Jacqueline Sulistyo.

“Our mission is to redefine pet nutrition,” Sulistyo said. “From my years of experience as a pet owner and my background in luxury hospitality and marketing, I’ve always understood the importance of quality and detail. Especially when trying to find the right food for my picky cat, Leo.

“Becoming a pet parent can happen quickly, but the responsibilities that follow can be as demanding as those of raising a child — sometimes even more so,” she added. “This realization kickstarted my mission to build Pawprints, aiming to equip fellow ‘pawrents’ with the guidance and resources they need for all things pet food. Although founding a pet food company in Asia is a challenging endeavor, I firmly believe it is the right one.”

Through its brands, Pawprints Group aims to combine holistic nutrition with innovative ingredients to provide high-quality nutrition to pets with allergies and food sensitivities. The company uses alternative proteins, like black soldier fly (BSF), and natural ingredients to create biologically appropriate and allergy-friendly formulas that also promote environmental sustainability.

“The journey with finding nutritional and tasty food for Leo also led me to discover insect-based proteins’ nutritional and environmental benefits,” Sulistyo said. “I wanted to provide superior, sustainable options for all pets, especially the picky and sensitive ones. Our vision is not just to feed pets but to ensure they thrive on the most innovative, environmentally sustainable and allergy-friendly diets available.”

To create its alternative protein pet foods, Pawprints Group works with internationally certified veterinary nutritionists. According to the company, its pet foods exceed nutritional standards and labeling guidelines set by the Association of American Feed Control Officials (AAFCO). 

The company recently debuted its Omega Oil supplement, which is formulated with BSF oil, vitamin E and chamomile. The supplement promotes skin and coat health in pets. According to Pawprints Group, the Omega Oil supplement showed “significant improvements” in skin and fur quality in dogs and cats. 

The company launched its flagship Pawprints brand in June 2023 and has since doubled its monthly revenue by selling more than 120 tons of pet food. To date, Pawprints Group has completed more than 35,000 orders. The company’s products are available in more than 700 retail outlets in the Asia Pacific region. 

This latest funding round was led by Asia Fund X (AFX), which is supported by MSW Ventures and Pavilion Capital. AFX joins Pawprints Group’s existing investors Creative Gorilla Capital and Altrui Investments. The round follows the company’s seed round, which closed in November 2023 and raised $1.7 million. The group plans to use the funding to ramp up its product innovation capabilities and operational capacity by adding more veterinary and nutritional experts to its team.

According to MSW Ventures, Pawprints Group is uniquely positioned to capitalize on Asia’s growing pet industry. This market is currently valued at $47 billion and has an expected CAGR of 11%. 

“Pet ownership has transcended its traditional role in Asia, becoming a significant emotional and psychological support fixture within modern families,” shared Jeffrey Seah, general partner at MSW Ventures. “This change is driving increased discretionary spending on specialized pet services and high-quality pet nutrition. The shift from bulk pet food purchases to tailored nutritional solutions opens substantial market opportunities for Pawprints’ multi-brand, multi-market approach. We are confident that Jackie and her team will guide this expansion across the region, and Pawprints will leave an indelible mark in the pet nutrition industry.”

Pawprints Group plans to further its presence in the Asian pet food market by launching more than 10 new SKUs by the end of the year. 

“We are dedicated to continuing our journey of innovation and excellence in pet nutrition,” Sulistyo said. “With the support of our investors and our commitment to sustainable practices, we look forward to enhancing symbiotic and deeply intertwined lives of pets and pet owners around the world.”

Read more news from pet food manufacturers. 

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