KatKin, fresh food and pet healthtech platform, has managed to secure its Series A funding, at a total of US$22m. In a press release, the company said that in doing so, it has secured “the healthier futures of cats worldwide” who will benefit from its fresh-cooked cat food.
Led by Verlinvest, Perwyn, Kresoa dn investor Octopus Ventures, the funding has taken the total amount raised to US$28m. It comes at an opportune time, as the value of the cat market is expected to be around US$50bn by 2030, the fastest growing sector in global petfood. The company, which is involved in the fresh cat food category, was first founded in 2019 and is led by co-founders and siblings Brett and Nikki O’Farrell.
In a sentence that encapsulates exactly what KatKin is striving to achieve – “let’s go hardcore for cat health” – it offers 100 percent fresh-cooked, human-grade meat for cats to enjoy and to support their health. This is all the more pressing, as obesity now makes up one of the top five welfare issues which is facing cats worldwide.
“KatKin began when Nikki and I questioned what we were feeding our cats Molly, Kiki and Columbus. The more we asked, the more horrified we were at what we found,” explains Brett O’Farrell. “Right now, mainstream cat food is stale … It’s difficult to find what’s best and customers are frustrated. In contrast, the demand is huge for KatKin – every six months we’re doubling in size and customer base.”
“We’re cat parents that love hard,” adds Nikki O’Farrell. “Cat wellbeing happens to be our profession but it’s our passion first. And it shows – we’re the highest-rated cat food brand on Trustpilot … With fresh, personalised and individual meals costing less than other premium brands and most mid-market brands, we’re on a mission to get all cats thriving.”
Working with a board certified vet nutritionist, each of the company’s eight recipes are created with 100 percent premium meat “good enough for humans to eat”. The meat is gently steamed and frozen, to offer the same nutrition as raw food, minus the risks. KatKin’s proprietary algorithm enables personalisation of food for an individual cat based on a range of data on weight, size, age, activity level and medical conditions. By utilising this data, it can provide well-proportioned meals so cats can receive their nutritional requirements and avoid overfeeding.
Currently, 80,000 cats across the UK eat KatKin’s cat food, having delivered around nine million fresh meals. More than 90 percent of pet owners have reported improvements after feeding: 62 percent said their cat was playful and energetic, 65 percent reported shiny coats and more than half reported improved digestion and fewer trips to the vets.
With the new funding, the company will be investing in growth, personalised health plans and scientific research and development. The brand is expanding its fresh-cooked manufacturing site for cats which will create new jobs within its team. Using a data-driven approach, researchers will be involved in developing “science-forward” solutions to issues which make cats unwell, such as diabetes and renal disease.
Lopo Champalimaud, the Board Director at Verlinvest, expressed his “excitement” at partnering with KatKin, while Andrew Wynn, founder and Managing Partner at Perwyn mirrored this sentiment.
“Following our previous investment in the health pet food sector and the invaluable experience that we built up in this market, it has been a delight to get to know Nikki and Brett and to learn about KatKin and the enormous success they have had with their brand,” he says. “We are very excited to partner with them and to build the next chapter in KatKin’s story. The business is well-positioned to drive growth in the rapidly expanding fresh food market for pets, and we look forward to supporting KatKin on the execution of its expansion plans.”
For more information on KatKin visit their website, HERE.