Vetreska Future Food, the Singapore-based subsidiary of Chinese pet lifestyle brand Vetreska, has received a US$50 million strategic investment from Quest FoF.
Upon completion of this strategic investment, Vetreska’s pet supplies and pet food divisions will be spun-out as two standalone businesses.
This means that Vetreska Future Food will fully manage the pet food business as part of the company’s multi-brand portfolio.
Building a high-quality overseas pet food supply chain system
The new business and organisational restructuring will allow the group to make its management more efficient. Its brand and product distribution will also be more targeted, and the range of pet foods and supplies made available to consumers worldwide will be more comprehensive and premium.
Additionally, Vetreska will be able to leverage the rich resources of its strategic partners in procurement, production and processing of global food raw materials, to build a high-quality overseas pet food supply chain system.
It will also be able to boost its R&D, through collaborative efforts with well-known research and academic institutions, including professional veterinary channels in Singapore and veterinary institutions of top universities worldwide.
Combining new trends in the pet food industry and the latest research results in animal nutrition and animal behaviour, the company is on track to develop a more comprehensive product matrix, meeting the feeding needs of global consumers.
Since our inception in 2017, Vetreska has achieved strong growth worldwide. Today, as we stand on the precipice of the next step forward as a company, we believe that this new joint venture will not only serve as a catalyst on which we propel ourselves forward, but also the ideal vehicle with which we effectively solve our past upstream deficiencies.
Our pet supplies and pet food businesses will be spun off into two separate entities and teams — each of which will be led by a more focused and professional team, enabling us to have greater operational dynamism as we look towards the next five years.– Donald Kng, co-founder and CEO of Vetreska
According to Tandip Singh, advisor to Quest FoF, Vetreska stood out from a number of pet brands with its forward-thinking product concept, alongside its precise insights into and understanding of the industry’s major trends.
This collaborative partnership between VETRESKA, the branding and marketing savant of the pet industry, and Quest FoF, with its resounding affiliation to the leading, Pan-Asian, industrial agri-food company dedicated to upstream feed production and breeding farms across all essential proteins, will bring a new dimension to the pet industry throughout the Asia-Pacific region.– Tandip Singh, advisor to Quest FoF
Expanding to global markets
Earlier this year, the parent company of Vetreska announced that it had completed three rounds of funding from 2021 to June 2022, raising an undisclosed eight-figure sum over a two-year period.
Its series B3 funding was led by Altrui Investment, with significant investment from BOJIA Capital. Meanwhile, its series B2 funding was fully subscribed by Vetreska’s existing shareholder, Clearvue Partners, and Series B+ was also exclusively invested by BOJIA Capital.
BOJIA Capital is also one of Vetreska’s shareholders.
The three funding rounds fuelled its rapid expansion and growth in the global markets.
In August, Vetreska established an overseas headquarter in Singapore, and built a team specialising in business development, direct-to-consumer (DTC) operations, branding and marketing, in a move to connect its core business and supply chain capabilities in China to its brand expansion plans globally.
In the same month, Vetreska opened its New York office and took part in SUPERZOO, the largest pet tradeshow in the US.
Meanwhile, Vetreska’s online business, including its website for the North American market and its flagship store on Amazon, has seen rapid growth.
The firm has partnered with major retail chains and department stores in many countries and regions, most notably in North America, Southeast Asia, Japan and Korea, paving the way for the company’s next stage of overseas business expansion.
Aside from that, Vetreska is also in the process of creating “Vetreskaland”, a metaverse in which they gamify the whole pet-owning experience for the next generation of pet-loving people.
Featured Image Credit: Vetreska