Vetreska Future Pet Food, the Singapore-based subsidiary of leading Chinese pet lifestyle brand Vetreska, received US$50M in funding from Quest FoF.
From 2021 to June 2022, Vetreska closed three financing rounds, of which, Series B3 was led by Altrui Investment, with significant investment from BOJIA Capital. Series B2 was fully subscribed by existing shareholder Clearvue Partners, and Series B+ was exclusively invested by existing shareholder BOJIA Capital. In 2020, the company raised US$20 million in two financing rounds, of which, Series B was led by private equity firm Clearvue Partners, while Series A2 at the beginning of the year was led by China Growth Capital and followed by SIG China, which had oversubscribed in the Series A+ financing round. Earlier investors include Galileo Venture, IDG Capital and Hejun Capital.
Founded in 2017, Vetreska is a pet lifestyle brand in China. Since inception, the brand has developed a line-up of products, including Soil-free Cat Grass, Oasis Cactus Cat Tree, Watermelon Kitty Kove, and Bubble Pet Carrier.
Upon completion of this strategic investment, the company’s pet supplies and pet food divisions will be spun-out as two stand-alone businesses. In line with the group’s roadmap for the next stage of growth, the new Singapore subsidiary, Vetreka Future Pet Food, will fully manage the pet food business as part of the company’s multi-brand portfolio. In August of this year, Vetreska established an Overseas Headquarters in Singapore, building a strong team specializing in business development, direct-to-consumer (DTC) operations, branding and marketing, in a move to connect its core business and supply chain capabilities in China to its brand expansion plans globally. In the same month, the company opened its New York office. In 2022, its online business, including its website for North American markets and its flagship store on Amazon, has been growing rapidly. The firm has partnered with major retail chains and department stores in many countries and regions, most notably in North America, Southeast Asia, Japan and Korea, paving the way for the company’s next stage of overseas business expansion.
FinSMEs
26/10/2022