Dublin-based Soopa Pets has announced it has secured €400,000 (US$452,600) in early stage funding from the Halo Business Angel Network (HBAN) Food Syndicate with support from Enterprise Ireland, according to The Journal.
Shifting wealth, demographic, and generational profiles not only affect human food markets, but pet food markets as well. Demands made by consumers regarding their own food purchases, opting for products that are more transparent, healthier, and “free-from” are translating to their choices when deciding the pet food purchases. In addition, as the baby boomer generation (which accounts for 37% of the total U.S. population) ages, Pet Food Industry reports that pet ownership is expected to shift to younger generations that will make different considerations when it comes to their pet’s diet, according to the National Pet Owners Survey released by the American Pet Products Association (APPA). Indeed, Enterprise Ireland has marked animal nutrition and pet food as a major sector for export growth, noting “human food consumer trends are beginning to influence pet food choice,” with a shift to “functional foods and organic options,” reports Yahoo News.
Former business consultant, Barbara Hanly launched Soopa in 2013 when she noticed many of the dogs she was seeing in her grooming business had the same weight and health issues as humans. Soopa makes dog treats made from 100% fruit and vegetables that have been dehydrated to prevent spoilage while still retaining their beneficial nutrient profiles, resulting in human-grade products.
“I was driven to set up Soopa Pets by a desire to provide something that simply wasn’t available to pet owners –healthy and nutritious pet treats,” Hanly told Food & Drink Business Europe. “Soopa Chews are 100% natural and suitable for dogs with health issues such as diabetes or liver disease. The HBAN Food Syndicate has a wealth of knowledge and experience within the food sector and it is great to have them on board as investors, as they really understand what drives success. Their experience and advice will help Soopa Pets expand and bring our delicious, super-nutritious treat to the European market.”
The funding will be used to grow the Soopa team by ten employees in sales, marketing, and customer support over the next three years as the company targets international expansion beyond its current markets in the UK, Ireland, Spain, Germany, Denmark, Sweden and Singapore, according to Business World.