Tuesday, May 11, 2021

Pet food company secures multi-million pound investment

A manufacturer of personalised pet food, which uses 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 £2m investment by the Northern VCTs in 2019 and will allow the company to continue to support its growth plans and development of its software as a service (SaaS) platform and data capabilities.

Pure, which is based in Cleckheaton, Yorkshire was established in 2012 by childhood friends Daniel Valdur Eha and Mathew Cockroft and 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, said: “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, said: “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.

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