WHITE CITY, LONDON — Good Dog Food, a company aiming to advance the development of cultivated meat in pet nutrition, closed its seed funding round with £3.6 million ($4.5 million USD) in investments. Agronomics, Siddhi Capital, Jim Mellon, executive director of Agronomics, and others participated in the funding round.
Focused on cellular agriculture, Agronomics invested £1 million ($1.3 million USD) in Good Dog Food’s seed round, resulting in the company holding 8,768 shares and about 42.4% of Good Dog Food. Mellon, who owns a 2.99% stake in the pet food company, invested £300,000 (roughly $378,456 USD).
Good Dog Food specializes in cultivated dog food products made with high-quality, sustainable, slaughter-free and antibiotic-free ingredients. Though traditional meat-based ingredients offer essential nutrients to pets, production of such ingredients can be a major driver of climate change and overexploitation of natural resources. According to Agronomics, food for companion animals accounts for almost 25% of meat produced in the United States, and the production of US-made dog and cat food is estimated to create 65 million tonnes of “CO2-equivalent” methane and nitrous oxide.
“By creating sustainable, ethical meat from cells, Good Dog Food is able to replace the 20% of meat and fish produced globally for use in pet food,” Mellon said. “As a dog owner, I have been looking for high-quality alternatives to traditional meat to provide to my dogs. Good Dog Food will do exactly that. It is even more exciting to know that Good Dog Food may accelerate the introduction of cultivated meat to the broader public.”
In March 2022, Agronomics launched Good Dog Food to help address the pet food and treat industry’s impact on the environment. The company originally invested £150,000 (roughly $189,210 USD) in the founder’s fundraising round. Agronomics plans to continue its support in Good Dog Food, raising its total investment to £4.96 million ($6.26 million USD).
“We're extremely excited to work with Agronomics,” said Owen Ensor, chief executive officer, Good Dog Food. “Their industry-leading expertise and advice have been fundamental to the ongoing success of Good Dog Food. With their support, we aim to bring some of the first ever cultivated meat products to market and, ultimately, help transform our food system into one that is both sustainable and ethical. Developing products for pet food is the natural starting point.”
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