Pet lifestyle company Vetreska will be receiving 20 mio dollars in Series B financing from private equity funds firm ClearVue Partners to accelerate its brand building and international market expansion.
Vetreska's two founders entered the Chinese pet industry in 2017 with its luxury cat products that range from food to fashion and furnishings. Targeting a specific market of young, single Chinese female pet (mainly cat) owners from urban centres, Vetreska made short work of the market by earning 9.5 mio dollars in sales and 720 000 dollars in profit in its first year. In 2019, the company made 30 mio dollars with 2 mio dollars in profit and has since expanded into Japan, South Korea, New Zealand, Canada, Australia and the United States.
