NEW YORK — Direct-to-consumer fresh pet food company, Pet Plate, announced Feb. 24 it has closed a Series A funding round with $9 million in investments, led by DFE Capital Management and General Mills’ venture capital division, 301 INC.
Marco Polo, Fernbrook Capital Management LLC, The Yard Ventures and Castor Ventures also invested in Pet Plate during this funding round.
"The pet food category is one of the largest food categories in the US, and it's still growing," said John Haugen, managing director of 301 INC. "Pet owners are driving the humanization and premiumization trends as they look for the same quality meals to feed their pets as they want for themselves, which is why we believe in the customer-centric approach that Pet Plate has taken."
With new funding, Pet Plate plans to develop new products, including complete-and-balanced diets, organic treats and nutritional supplements, as well as expand its consumer base through new marketing initiatives. The company also plans to invest in its team and scale the business to support future growth.
"With the backing of industry leaders and world-class investors in this round, Pet Plate is now poised to scale its business and its brand to reach millions of dogs across the country," said Gertrude Allen, chief executive officer of Pet Plate. "This milestone represents the next leg of our journey to improve the lives of pets through better nutrition."
According to Pet Plate, founded in 2016 by Renaldo Webb, the company has delivered more than 9.2 million human-grade meals for dogs across 48 states and Washington, D.C. Its personalized dog foods are “kettle-cooked” in a US Department of Agriculture-certified manufacturing facility, then frozen and delivered fresh to pet owners through a subscription service.
The company appeared on Shark Tank in December 2016, an experience which launched it into the national pet space. It also participated in Leap Venture Studio’s 2018 cohort.
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