SHANGHAI, October 21, 2022 /PRNewswire/ — VETRESKA FUTURE PET FOOD, the Singapore-based subsidiary of leading Chinese pet lifestyle brand VETRESKA, recently received a $50 million strategic investment by Quest FoF, the VCC of a large pan-Asian agri-food conglomerate. Earlier this year, VETRESKA’s parent company also announced that it had closed three rounds of financing and raised an undisclosed eight-figure USD amount over a two-year period. The strategic investment makes it possible to complement VETRESKA’s creative and brand-related know-how with the upstream establishment of its new investor.
VETRESKA co-founder and CEO donald king said: “We are very pleased with this level of recognition from our experienced investment partners. Since our foundation in 2017, VETRESKA has achieved strong growth worldwide. We believe that today, as a company, we stand on the precipice of the next step forward, that this new joint venture will serve not only as a catalyst to propel us forward, but also as an ideal vehicle through which to effectively address our past upstream deficiencies .Our pet supplies and pet food businesses will be spun off into two separate entities and teams, each led by a more focused and professional team, giving us greater operational momentum looking ahead to the next five years.”
Tandip Singh, Advisor to Quest FoF, said: “Following a thorough analysis of the global high-end pet food and supplies industry, VETRESKA stands out from a range of pet brands with its forward-thinking product concept alongside precise insight and understanding of this collaborative partnership between VETRESKA , the pet industry’s branding and marketing expert, and Quest FoF, with its resounding affiliation with the leading pan-Asian industrial agri-food company dedicated to upstream feed production and breeding operations across all essential proteins, will bring a new dimension to the pet industry to lend Asia Pacific Region.”
Comprehensive modernization of industrial chains
After completing this strategic investment, the VETRESKA pet supplies and pet food business areas will be spun off as two independent companies. In line with the Group’s roadmap for the next stage of growth, the new Singapore Subsidiary VETRESKA FUTURE PET FOOD will fully manage the pet food business as part of the company’s multi-brand portfolio. This new business and organizational restructuring enables the Group to become more efficient in its management, more focused in brand and product distribution, and more comprehensive and professional in offering pet food and supplies to consumers worldwide.
In addition, VETRESKA will leverage the rich resources of its strategic partners in the sourcing, production and processing of global food raw materials to build a high-quality pet food supply chain system abroad and promote research and development through joint efforts with well-known research and academic institutions, including professional veterinary channels in Singapore and veterinary institutes of the best universities worldwide. By combining new trends in the pet food industry and the latest research in pet nutrition and animal behavior, the company is on track to develop a more comprehensive product matrix that meets the nutritional needs of global consumers.
Rapid global business expansion
The previous three funding rounds earlier this year have fueled VETRESKA’s rapid expansion and growth in global markets. In August of this year, VETRESKA founded a foreign headquarters in SingaporeBuild a strong team specialized in business development, direct-to-consumer (DTC) operations, branding and marketing to connect its core business and supply chain capabilities China on its brand expansion plans worldwide. In the same month, VETRESKA opened its new York office and attended SUPERZOO, the largest pet show in the United States.
In 2022, VETRESKA’s online business, including its website for the North American markets and its flagship store on Amazon, has grown rapidly. The company has established partnerships with major retail chains and department stores in many countries and regions, especially in North America, South East Asia, Japan and Korea, paving the way for the next stage of the company’s overseas business expansion.
For more information, visit https://vetreskanyc.com/
Founded in 2017, VETRESKA is a fast growing pet lifestyle brand in China. VETRESKA takes inspiration from everything that has been invented to make human life more enjoyable and comfortable and strives to bring animal lovers products that incorporate fun yet functional design and allow them to experience the joy of life and living to share with their pets.
Since its inception, the brand has developed a range of popular products, many of which have become bestsellers, including Soil Free Cat Grass, Oasis Cactus Cat Tree, Watermelon Kitty Kove and Bubble Pet Carrier.
From 2021 to June 2022, VETRESKA completed three rounds of financing, Series B3 of which was led by Altrui Investment with significant investments from BOJIA Capital. Series B2 was fully subscribed by existing shareholder Clearvue Partners and Series B+ was invested exclusively by existing shareholder BOJIA Capital. In 2020, VETRESKA increased $20 million in two funding rounds, of which Series B was led by private equity firm Clearvue Partners, while Series A2 was led by China Growth Capital earlier in the year, followed by SIG China, which oversubscribed in the Series A+ funding round . Previous investors include Galileo Venture, IDG Capital and Hejun Capital.