SHANGHAI — VETRESKA FUTURE PET FOOD, a subsidiary of pet lifestyle brand VETRESKA, recently received $50 million in investments from Quest FoF, a Pan-Asian Agri-Food corporation.
“After a thorough analysis of the global high-end pet food and supplies industry, VETRESKA stood out from a number of pet brands with its forward-thinking product concept alongside precise insights into and understanding of the industry's major trends,” said Tandip Singh, advisor to Quest FoF.
“This collaborative partnership between VETRESKA, the branding and marketing savant of the pet industry, and Quest FoF, with its resounding affiliation to the leading, Pan-Asian, industrial agri-food company dedicated to upstream feed production and breeding farms across all essential proteins, will bring a new dimension to the pet industry throughout the Asia-Pacific region,” Singh added.
Earlier this year, VETRESKA announced it had completed three funding rounds during the past two years. The investments in VETRESKA and its subsidiaries will allow the brand to split its pet supplies and VETRESKA FUTURE PET FOOD businesses into stand-alone companies.
“We are very excited to receive this level of recognition from our experienced investment partners,” said Donald King, chief executive officer of VETRESKA. “Since our inception in 2017, VETRESKA has achieved strong growth worldwide.
“Today as we stand on the precipice of the next step forward as a company, we believe that this new joint venture will not only serve as a catalyst on which we propel ourselves forward, but also the ideal vehicle with which we effectively solve our past upstream deficiencies,” he added. “Our pet supplies and pet food businesses will be spun off into two separate entities and teams, each of which will be led by a more focused and professional team, enabling us to have greater operational dynamism as we look towards the next five years.”
VETRESKA FUTURE PET FOOD will manage VETRESKA’s entire pet food business following organizational restructuring. The restructuring is expected to boost the efficiency of VETRESKA FUTURE PET FOOD’s brand and product distribution with a range of pet food products to become available to consumers, worldwide.
VETRESKA will support VETRESKA FUTURE PET FOOD by aiding in the development of an overseas pet food supply chain, providing the brand with partners in procurement, production and processing. The brand will also receive R&D support from research and academic institutions, professional veterinarians and veterinary institutions throughout the globe, enabling VETRESKA FUTURE PET FOOD to develop more pet food products that follow consumer trends.
VETRESKA’s previous investments allowed it to expand in many global pet markets. In August, the brand established its headquarters in Singapore, enabling it to build a strong personnel team specializing in business development, direct-to-consumer (DTC) channels, branding and marketing. In August, the brand also opened an office in New York and participated in SuperZoo 2022.
VETRESKA anticipates more growth following the success of its Amazon flagship store. The pet lifestyle brand has partnered with retail chains throughout North America, Southeast Asia, Korea and Japan to expand its global reach.
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