CB Insights: New Breed: Pet Tech Is Seeing Investor Interest Take Off
Editor's Note: AmeriSourceBergen, recently merged with Idaho leader MWI Animal Health, has invested in three additional companies. This investment shows MWI Animal Health's leadership in a strong and growing industry.
From smart collars and treat dispensers to e-commerce and social media, startups are jumping into the pet industry across a wide variety of tech categories. 2016 was a record year for financing to the space in terms of both deals and dollars, modestly exceeding 2015 totals, despite the overall slump in VC funding.
Using CB Insights data, we examined investment activity from 2012 to 2016 in the pet tech space.
We define the pet tech category to include companies whose core business is using tech-enabled solutions to serve the pet owner market. This broadly includes e-commerce and subscription startups targeting niche pet retail; hardware startups providing food, training, toy, waste management, and tracking solutions; and mobile app and/or software-based platforms that connect pet owners with pet service providers (e.g. dog-walkers, veterinarians, shelters, grooming services, etc.) The category excludes traditional retail stores, food companies, and any other brick-and-mortar business which does not rely primarily on technology to serve the pet market.
This report contains detailed information on: