NEW YORK — Cat food brand Made by Nacho announced on Feb. 23 it finished its Series A funding round with $14 million in investments. The round was led by CAVU Venture Partners and participating investors include New Fare Partners and Mars’ Companion Fund.
The premium cat food company will use the funds to expand its team, product offerings and marketing efforts.
"The pet food industry is one of the largest and fastest-growing segments globally, and yet 95% of venture funding in the category goes to dog-focused companies," said Tessa Gould, chief executive officer, Made by Nacho. "In our first year, we've made it our mission to give cat parents the same type of innovation and excitement that we've seen with dogs, and the results to date really speak for themselves. We're excited to be able to expand our efforts to not only make premium, nutritious and flavorful cat food the norm, but also to become the first, true lifestyle brand specifically for cats."
The company was developed and founded by celebrity chef Bobby Flay and his cat Nacho Flay, alongside food industry veteran Elly Truesdell. In April 2021, Made by Nacho launched in 1,300 PetSmart stores and through its own e-commerce, direct-to-consumer site, producing more than 195,000 transactions in its first nine months. With 27 SKUs among dry food, wet food in pouches, wet food in cups and single-ingredient treats, the company has plans for further expansion.
"As someone who has always had cats in my life, I was determined to create food that was healthful, had the nutrition I wanted my cats to have, and of course tasted great,” Flay said. “What cat doesn't want delicious meals? Inspired by my cat, Nacho Flay, the co-founder of Made by Nacho, we continue to hit the taste-testing kitchen to ensure cats everywhere have what they need when it comes to mealtime and beyond."
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