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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

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