Pawprints Group founder Jacqueline Sulistyo
Singapore-based Pawprints Group, a provider of allergy-friendly pet nutrition products, has raised an undisclosed sum in a seed extension funding round led by Asia Fund X (AFX), an opportunity fund supported by MSW Ventures and anchored by Pavilion Capital.
Existing investors Creative Gorilla Capital and the Japfa Comfeed family office Altrui Investments also joined the round.
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This strategic financing round follows a US$1.7 million seed round announced in November 2023.
The new capital injection and strategic alliances will bolster the Pawprints’s innovation capabilities and operational capacities through measured bench-building and onboarding of veterinary and nutritional experts.
Formulated in accordance with AAFCO (the Association of American Feed Control Officials) standards, Pawprints harnesses the power of the superfood insect protein (black soldier fly) to offer quality hypoallergenic novel protein, along with essential amino acids and minerals crucial for the health of cats and dogs.
Following the launch of its signature Pawprints brand in June 2023, the group claims to have more than doubled its monthly revenue and sold over 120 tons of pet food. It has completed over 35,000 orders and is available in over 700 offline outlets.
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Pawprints aims to capitalise on Asia’s expanding pet care industry, now valued at US$47 billion and growing at a CAGR of 11 per cent. The company plans to penetrate this burgeoning consumer segment by introducing more than ten new product SKUs by the end of 2024.
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Image Credit: Pawprints.
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