Crunchbase's Investors Unleash Millions Into Pet-Tech Startups covers the surge in pet industry venture funding over the past 5 years.
Key quote:
Funding in pet startups surged by 334 percent to $291.8 million compared to $67.2 million in 2012, according to Crunchbase research. So far, funding totals in pet-related startups have already reached $519.3 million in 2018—78 percent higher than all of last year.
The large amount for 2018 is mostly due to two large deals, Wag (raised $300 million) and Rover ($155 million). But other pet startups are also attracting venture investments.
The article also points out, as is shown in their chart below, that dogs tend to be more popular than cats with pet startups.
It's no surprise there's been a surge in pet related startups.
The pet industry continues to grow and the pet humanization trend continues to get stronger as pet obsessed Millennials pamper their pets even more than older generations.
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