Which science field has the most promising future?

Computer science
Aerospace engineering
Ecology, resource saving

What is the mankind's most dangerous invention?

Atomic bomb
Fast food

Russian fund helps US startup “spark modernization of the global pet industry”

Petnet, a Los Angeles based connected pet device company, has secured $1.125 million in a seed-stage round from Grishin Robotics, Kima Ventures, SparkLabs Global Ventures, and Launch Capital. The funding will be used to commercialize Petnet’s first product – The Petnet Smartfeeder – an intelligent pet feeder scheduled to ship to customers in mid-2014.

Today’s pet industry is $100 billion globally, according to Grishin Robotics, and is made up of over 1 billion domesticated cats and dogs.

While feeding plays a central role in the health of a pet, most people do not have the information or time to properly manage their pet’s diet – which leads to numerous health problems.

Petnet claims to be more than just a food dispenser: “We get to affecting portion size, offering healthier food alternatives, allowing pet parents to create a feeding regimen that works for their pet.”

The startup’s defines its mission as to “revolutionize the way people care for their pets and spark modernization of the entire pet industry.”

“Even the simplest things around us are quickly becoming robots these days. Through unique combinations of powerful hardware, smart software, and internet-connectivity, Petnet is a perfect example of this trend,” said Dmitry Grishin, the Russian businessman who founded Grishin Robotics in 2012. “I am confident in the company’s ability to successfully tackle the worldwide pet health challenge and disrupt the multi-billion dollar industry”.

Grishin is also the CEO of Mail.ru Group, a leading player on the Russian Internet scene. 

2014-01-23, East West Digital News.

Keywords: investment, robots, startups, Grishin Robotics, funding, Kima Ventures, devices

Russian fund helps US startup “spark modernization of the global pet industry”
Sberbank looks outside Russia for investment banking growth
Software investment hit record levels in 2013 (report)
Europe's hottest startup capitals: Moscow
DisplAir ditches airborne display production idea, opts for technology licensing
Government-sponsored startup tour to bring innovation expertise to 26 Russian cities
Russian navigation helmet vs. Google Glass
Startup Funding in Russia: Nginx raises $10 million
Russia’s angel investing market grows but problems with start-ups and law persist – IIDF
This Guy's Investment Fund Is Making A $5.6 Million Bet On Quantum Encryption
Russia’s Rostec Corp. to Invest $100M in New Aircraft Factory
Prostor Capital invests $2 million in retail marketing solution Smart Checkout
St. Petersburg CRM software startup Fresh Solutions raises $1.1 million to prepare international expansion
Cinarra Systems Secures $4.5M Series A Funding From Almaz Capital, Cisco
New $30 million fund expects 45% IRR; makes first investment in task outsourcing service Youdo.com

Leave your comment
Sign up
Enter verification codeEnter verification code

Second Moscow International Foreign Investment Forum
Most popular news
Annual Investment Meeting 2013

Welcome to Investment. Innovation. Business Web Portal – a community-driven platform for all the participants of the investment process both in Russia and abroad!

We work to provide online information exchange between Russian and global investors and innovators, business owners and developers.