The investment round, led by Felix Capital and including Mercia Ventures, comes as the business doubled revenue in the past 12 months to £25m as it capitalised on the premiumisation of the pet care industry.
Pure will use the funding to further expand both in the UK and new markets, as well as develop its distribution channels and product categories.
‘Significant milestone’
Commenting on the investment, Pure Pet Food co-founder Mat Cockroft said: “We are thrilled to partner with Felix Capital, whose HFelix team have demonstrated exceptional support and collaboration. Having one of Europe’s leading consumer investors involved in the business marks a significant milestone for us, and we are excited to shape the future of Pure together.
“We are also delighted for the ongoing support from our current investors and team, who believe in our mission and sector. Dan and I have come a long way from starting Pure. Our ambitions have grown alongside the business, and we are eager to continue in our quest to create food that makes a profound impact on the health and happiness of our dogs.”
Founded in 2013 by Daniel Valdur Eha and Mathew Cockroft, Pure Pet Food set out to create an alternative to traditional kibble, through the manufacture and marketing of natural, healthy and easily digestible food for dogs.
Growing team
The business now employs more than 100 team members at its manufacturing site and offices in Cleckheaton and serves 40,000 regular customers throughout the UK, who pay a monthly subscription and receive regular deliveries of pet food tailored to their dog’s needs.
Antoine Nussenbaum, co-founder and investor at Felix Capital, added: “The longstanding relentless drive from Mat and Dan … is a true recipe for success. In a world where people opt more and more for pethood over parenthood, we are humbled and excited to join this journey alongside Jan at Mercia, as well as Miles Hill and Sarah Doyle from Pure.”
Meanwhile, Applied Nutrition is aiming for a £400m valuation as it prepares for its initial public offering (IPO) on the London Stock Exchange later this month.