$22 million is raised by Katkin for its online retail cat food brand
A $22 million Series 1 investment has been completed by London-based firm KatKin, which offers online meal ordering and delivery services.
Brett and Nikki O’Farrell, brothers who have backgrounds in banking and advertising, respectively, founded Catkin, a direct-to-consumer service that offers specialised cat food.
The service offered by KatKin is quite similar to meal kit delivery services like Gousto, except for cat food.
Customers purchase a monthly subscription for cat food that is delivered to their house and is customised to the characteristics and demands of their cats.
According to Nikki, the dog market has been easier for investors to see and capture.
He was the driving force behind the Series A funding round that included Octopus Ventures, Verlinvest, and Perwyn.
The increased funding, according to the creators, will go toward marketing, R&D, and increasing manufacturing capacity.
Despite the fact that the global cat food market is typically approximately $40 billion, the two entrepreneurs, who are also cat lovers, feel there is an untapped market for online sales of speciality cat foods.
No single cat brand in the world is actually dependable and unwavering, according to Brett.
Because of this, a lot of funding, particularly for startups, frequently goes to dog-related businesses initially.
$22 million is raised by Katkin for its online retail cat food brand
“The purpose of this funding is to show how the UK’s unit economics of business functions. The UK serves as both our test market and our home market. However, the goal is to create a global cat brand. to travel to the US sometime in 2019”
Regarding KatKin
UK-based KatKin is a fresh nutrition and health brand created just for cats. KatKin’s goal is to make fresh, dietary supplements available to cats worldwide so they can enjoy happier, healthier, and longer lives.
This company customises each recipe to your cat’s unique calorie needs and only employs the freshest human-grade components in its formulae. You only need to submit some basic details about your cat and his dietary needs; KatKin will handle the rest.