A US-Based (Boulder, Colorado) pet food start-up, Bond Pet Foods, has closed on a Series A fundraising round that accumulated $17.5 million.
Bond Pet foods, founded in 2017, have developed a sustainable process of creating proteins through fermentation, with no farming required to manufacture their products.
The production process is safe and established, similar to those that are used to create enzymes for cheese production, lactic acid, and vitamin B12. Since no animal farming is required for this process, it provides a sustainable and responsible pet food alternative that doesn’t harm other animals or negatively impact the environment. The proteins produced are brewed, meaning fewer resources are used and less carbon intensity, thus better for the planet.
Using a combination of sample chicken DNA (collected in a cruelty-free way) and bakers yeast, natural vitamins and minerals are used to ferment the yeast strain, which once brewed, produces ‘brewed chicken’. Once fermented the brewed product is harvested, dried, and ground into a powder that can be used in any dry or wet food recipe. The fermentation process is made for optimal flavour and nutrition, and the flavours created include chicken, beef, fish, and other meats.
Bond Pet Food has previously raised $1.2 million in 2019 (in a Seed round – the first official equity funding stage), and they are now at $20 million in total fundraising. They partnered with leading pet food brand Hill’s Pet Nutrition (a biology-based pet nutrition company) in 2021 to collaborate on creating a fermented alternative for Hill’s meat product specifically designed for cats and dogs.
The investors varied from ADM ventures, Cavallo Ventures, Genoa Ventures, Leve VC, Stage 1 Fund, Lifely VC, Satori Capital, food/technology and sustainability investors: Thia Ventures, iSelect Fund, to musicians Joan Jett and Sia Isobelle Furler (Sia is also involved as an advisor within the company).
The proceeds will go to a 15,000-square-foot production facility in Central Boulder, as well as help to expand the team, strengthen company science and advance technical and regulatory affairs.
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