Petgood

Petgood, a Swedish company founded in 2020, is carving out a niche in the burgeoning sustainable pet food market. Originally established as Funcifur by co-founders Pernilla Westergren (CEO) and Thomas Dalebring, the company rebranded to better reflect its mission. The inspiration for the venture came after Westergren, a dog owner herself, found it difficult to find high-quality, transparently sourced pet food for her Labrador, Siri. This personal frustration led to the exploration of insect protein as a sustainable and nutritious alternative, forming the foundational concept of Petgood.

The company's core business revolves around producing and selling insect-based food for dogs and cats, targeting pet owners who are environmentally conscious and concerned with pet health. Petgood's primary protein source is the black soldier fly, chosen for its high digestibility, rich amino acid profile, and minimal environmental impact compared to traditional livestock. This protein is also noted for being free from antibiotics and growth hormones commonly used in meat production. The product line, developed in collaboration with veterinarians and researchers, includes complete diets, dental sticks, and other pet products. Petgood operates on a direct-to-consumer model through its e-commerce website and also distributes its products through a multi-channel network that includes veterinary clinics and major pet retailers in the Nordics, Germany, and Australia.

Financially, Petgood has demonstrated successful capital acquisition to fuel its growth. The company secured a seed round of approximately $898K in March 2021. This was followed by a more significant funding round of SEK 19 million (about $2.1 million) in February 2022, aimed at international expansion, particularly into Australia. Key investors in this round included the sustainability-focused VC fund Course Corrected and Civitus, an investment vehicle for notable angels like Noel Abdayem. Later in December 2022, Petgood raised an additional €2.5 million to enhance its R&D capabilities and accelerate its growth across Europe, with backing from Axel Johnson and Course Corrected. This strategic funding is enabling the company to intensify its research, recently publishing a study on the health benefits of black soldier fly fat in pet food, and to expand its market footprint by partnering with local suppliers like Future Green Solutions in Australia.

Keywords: insect-based pet food, sustainable pet products, black soldier fly protein, pet nutrition, direct-to-consumer pet food, eco-friendly pet supplies, hypoallergenic dog food, alternative protein for pets, Swedish pet food, climate tech, animal nutrition, veterinary-developed pet food, e-commerce pet supplies, Pernilla Westergren, sustainable consumption, circular economy, pet health, animal feed innovation, food tech, European startup