Natural pet food company raises multi-million investment
A Yorkshire company which manufactures personalised pet food using only natural ingredients has secured a multi-million pound investment to accelerate its growth.
Pure Pet Food has raised the funds from Mercia's Northern Venture Capital Trust (VCT) Funds and NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund. The latest funding round follows a GBP2 million investment by the Northern VCTs in 2019 and will allow the Cleckheaton-based company to continue to support its ambitious growth plans and development of its software as a service (SaaS) platform and data capabilities.
Established in 2012 by childhood friends Daniel Valdur Eha and Mathew Cockroft, Pure offers air-dried food made from natural, high-quality ingredients. Sales have accelerated in the pandemic, as more pet owners have chosen to shop online and sign up to its subscription service.
Mat, Co-Founder of Pure, says: "The investment will help Pure continue to provide the very best service to our customers, create deeper connections, significantly grow our customer base, offer more personalised health-based products and services, develop and grow our retail proposition with Pets at Home and continue to lead the air-dried pet food market in the UK."
Aaron Lawson-Clark, Investment Director of Mercia, says: "We're delighted to support Dan and Mat as they expand Pure Pet Food in the fast-growing pet food sector. With dog ownership and home delivery on the rise and owners generally focusing more on health, Pure provides personalised pet nutrition that is easily accessible on a secure and intuitive platform.
Square One Law provided legal advice to Pure on the investment while Gunner Cooke LLP advised Mercia.