Indonesia’s insect-based pet food company Pawprints Inspired bags US$1.7M financing

Pawprints Inspired, an insect-based pet food company in Indonesia, has received US$1.7 million in funding led by Creative Gorilla Capital (CGC), a collaboration between Future Creative Network and Vynn Capital.

Altrui (Japfa Comfeed Family Office), Tujuh Bersaudara Investindo (Tigaraksa Satria Family Office), and several individual investors participated.

In addition, Pawprints Inspired also acquired an unnamed Japanese pet food company to expand its portfolio.

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Formulated in accordance with AAFCO (the Association of American Feed Control Officials) standards, Pawprints Inspired is a nutrition company supporting the digestive health and overall well-being of pets. It harnesses the power of the superfood insect protein (black soldier fly) to offer quality novel protein that is hypoallergenic, along with essential amino acids and minerals crucial for the health of cats and dogs. The products are available on Tokopedia and Shopee platforms and can also be found offline in select pet shops.

Founder and CEO Jacqueline Sulistyo said: “Pawprints Inspired creates pet foods that are nutritious and biologically appropriate for better animal welfare. Our focus is on innovation, like our insect-based Pawprints products featuring organically farmed Black Soldier Fly, hormone-free with complete proteins, prebiotics, and antimicrobial properties. As a holding group, Pawprints Inspired will continue to develop products and new business areas that support pet digestion and immunity.”

Since its launch in June 2023, Pawprints claims to have recorded a monthly sales growth of over 4.6x, expanded its network in 11 major cities, and made its products available in over 500 offline stores in Indonesia.

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In February 2024, Pawprints is set to launch its insect-based dog food product.

Research on Pet Care in Asia Pacific conducted by Euromonitor indicates a growing impact of the pet humanisation concept on consumer buying behaviour in Indonesia. The rise in income and demographic changes have shifted pet owners’ perspectives from mere ownership to pet parenting, now considered part of the family. This has spurred demand for products that support pet well-being.

Data from Growth Market Reports estimates sustained growth for the pet food market in Indonesia at US$2.09 billion in 2022, projected to exceed US$4.73 billion by 2031, with a CAGR growth of 9.5 per cent during the forecast period 2023-2031.

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