LOS ANGELES–(BUSINESS WIRE)–In the second paragraph, first sentence, please replace “Aspiration
Partners” with “Aspiration Growth.”
The corrected release reads:
PETNET RAISES $4M FROM AMAZON, IROBOT AND BLACK RIVER TO EXPAND ITS
PERSONALIZED PET FOOD DELIVERY ECOSYSTEM
Petnet, the leader in intelligent pet feeding, today announced it has
raised $4M to help build out its digital supply chain strategy to
benefit pet owners with greater quality food and lower costs.
The financing round involved several leading investors, which include
Black River Ventures, Aspiration Growth, iRobot and Amazon Alexa Fund.
The investment is intended to help drive and expand Petnet’s digital
supply chain ecosystem, and commercialize its SmartFeeder technology.
Petnet is a consumer facing home automation company whose mission is to
deliver the freshest and most compatible food possible to your pet.
Petnet’s leading edge technology platform is built with artificial
intelligence, robotics, sensors, and networks. All of these elements
help drive Petnet’s strategy to create greater efficiency in today’s pet
food supply chain.
“It often takes nine to twelve months to get pet food from the food
factory to your pet’s bowl,” said Carlos Herrera, CEO of Petnet. “It’s a
very manual and inefficient supply chain that requires an unimaginable
amount of labor and resources. It doesn’t need to be that way.“
Petnet believes the automation will benefit pet owners with better
quality food, lower costs, and streamlined delivery from the factory to
the pet’s food bowl. Petnet’s first product, the SmartFeeder learns
about your pet’s age, weight and level of activity and autonomously
creates a profile of the pet’s caloric nutritional needs. Most
importantly, because the SmartFeeder keeps track of your food supply,
Petnet is able to preemptively order food from its supplier and have it
arrive to your door as you need it without having the food stored in a
warehouse for more than one day.
“We’ve taken 3-4 months off the pet food supply chain by digitizing your
pet’s needs and adding automation into the process,” Herrera said.
“That’s a huge efficiency gain that benefits the health of pets, pet
food companies, and Petnet.”
Today, 70 percent of US households have at least one pet and the
multibillion-dollar pet industry is growing fast. As the pet food
industry continues to thrive, research data shows there are more pets
than children in American households, with 180 million dogs and cats in
the US. Pet owners spent nearly $24 billion on pet food in 2014. And
consumer spending on smart home systems and products is expected to hit
$39 billion by 2019.
For more information on Petnet, watch this video: http://videos.petnet.io/medias/yaqc6ej1gj
Petnet is a leading provider of pet-owner empowerment technologies.
Petnet helps owners stay connected with their pets’ health through
cutting-edge technologies. Petnets products are driven by a team of
designers, engineers and pet food experts who are committed to
digitizing the pet industry through next-generation products for pet
owners. The smart feeder has awarded the prestigious 2015 Consumer
Electronics Association (CES) Innovation Award. The CES Innovation
Awards are awarded to products that reflect innovative design and
engineering in cutting edge tech products and services coming to market.
Learn more about Petnet at www.petnet.io.
Anu Saptharishi, 213-761-4233