A $22 million Series A round of funding has been completed by London-based startup KatKin. Brett and Nikki O’Farrell, siblings who have backgrounds in banking and advertising, respectively, founded KatKin, a direct-to-consumer company that sells customized cat food.
The service offered by KatKin is quite comparable to meal kit delivery services like Gousto, but for cat’s food.
Users purchase a monthly subscription of cat’s food that is delivered to their house and is customized to meet the demands and characteristics of their cat.
Verlinvest, Perwyn, and Octopus Ventures were the leaders of the Series A investment.
The new money, according to the founders, would be used to increase marketing, R&D, and manufacturing capacity.
The pair, who are also cat owners, think there is a market for online sales of specialty cat’s food that is underserved because investors have focused mostly on dogs and their owners, even though it is predicted that the worldwide cat food market will be worth over $40 billion.
According to Nikki, the dog market has been easier for investors to get onto since it is more visible and common.
The siblings are promoting their food’s distinctive recipes and high meat content. The founders claim that certain cat food manufacturers misrepresent the amount of meat in their products.
Meat that has been steam cooked, frozen, and packaged in insulated boxes is the main component of KatKin’s meal boxes. Cats are strict carnivores who must consume meat to survive. An expert in veterinary nutrition created all of its recipes.
According to Brett, monthly fees range from £50 to £64. The service is currently only offered in the UK.
In order to strengthen its position in its local market and prepare for worldwide expansion, he added, the most recent investment round will be employed.