The pet market continues to heat up! Xiaopei receives another $50 million in financing

This round of financing was led by Sofina and CDH Investments , with existing shareholders GGV Capital, Qiming Venture Partners, Zhichun Capital, 渶策 Capital, and Kunyan Capital following suit. This is another round of financing that Xiaopei has received since September last year. Tianyancha information shows that Xiaopei has received 6 rounds of financing since its establishment .

It is reported that Xiaopei was founded in 2013. As one of the pioneers of pet smart products , Xiaopei has launched popular products such as smart water dispensers, smart feeders, and smart cat toilets. The products designed and produced by Xiaopei have won the international Red Dot and iF Design Awards many times . After years of development, Xiaopei has become a company integrating pet supplies, food, services, and medical care . At present, Xiaopei has more than 1,300 chain stores across the country .

In addition to its efforts in China, PETKIT has also turned its attention to overseas. As early as 2019, PETKIT received a US$20 million Series C financing. It is reported that the funds will be used to strengthen research and development on the one hand, and to establish an overseas business department on the other hand to promote the globalization of the PETKIT brand.

Today , Xiaopei is already well-known in the field of smart pet supplies on Amazon . For example, all products under its brand " PETKIT " can basically get thousands of reviews, 4-star+ ratings, and even Amazon's Choice logo on the Amazon platform.

The pet products market is huge in Europe and the United States. Taking the United States as an example, according to a survey by the American Pet Products Association (APPA), 67% of American households owned a pet in 2019.

At the same time, pet consumption is also upgrading, showing a trend of specialization and refinement. Consumption of pet food, medical care, beauty, training and other segmented products and services is becoming more and more popular.

APPA said that Americans spent $95.7 billion on their pets in 2019. Among them, the cost of food reached $36.9 billion, accounting for the largest proportion, followed by veterinary care ($30.2 billion), daily necessities ($19.8 billion), and grooming services ($10.7 billion).

Faced with such a huge market, it is not difficult to understand why Xiaopei wants to expand overseas.

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