PetKit recently announced its more than USD$10 million in C+ round of
financing with INCE Capital’s continuous oversubscribed co-investment.
PetKit is a one-stop pet life service platform that provides
pet care, grooming, retail, boarding, hospitals and other services and
solutions. With the application of cutting-edge technology and innovative
design, it is committed to creating various high-end smart products for pets, improving
the quality of pets' life and simplifying the life of raising pets, which
enables customers to raise pets in a more simple, easy and joyful way while allowing
pets to have more enjoyable experiences in life.
Established in 2013, PetKit’s products have now set footprint
in six major categories namely "food, drinks, housing, transportation, hygiene and
entertainment". Since 2018, PetKit has begun to focus on building its
presence in the offline pet chain business. As the biggest traffic attraction
channel for pet consumption, pet chain stores can integrate multiple advantages
and address many pain points of traditional individual pet stores such as the
inability to meet user needs and the low efficiency of store operations. At
present, PetKit, which has opened 300 stores that cover as many as 250,000
households, has become the most influential pet chain brand in China thanks to the
well-reputed brand effect over the years and its own efficient operation and
management structure.
As a benchmarking enterprise in the pet industry, PetKit’s core
competitiveness is mainly reflected in three dimensions:
1. The intelligent SaaS system opens up the front, middle,
and back-end links to provide one-stop all-round digital management for stores;
2. Product ecology improvement over the years has helped
accumulate deep supply chain capabilities for PetKit. Currently, there are over
5000 self-developed + introduced SKUs. PetKit
opened up the supply chain platform for the stores to improve the efficiency
and varieties of product selection as well as their profit margin;
3. With a distinctive medical funds-based membership system, customers
who shop in PetKit stores can get a certain percentage of medical funds which
can be used for pets' follow-up medical treatment. In that case, it is able to
create a closed-loop win-win system for customers, stores, and hospitals.
Guo Weixue, co-founder and CEO of PetKit said that, "as
the pioneer and leader of smart home provider for pets, PetKit has not only
brought technology into the pet industry but also a revolutionary advancement
to the family experience of pet raising. In addition, the company has invested
cumulatively over 40 million in developing a full-lifecycle SaaS operation
management software for pet shops/pet hospitals. We hope to empower stores with
information technology so as to improve store operating efficiency and consumer
experience and provide pets with high-quality one-stop shop services."
The play filed for pet business has always been a focus of
investment by INCE Capital. This round of financing will be used for the
continuous optimization of products and the expansion of channels, as well as
the continuous and efficient expansion of stores on the pet chain side. Such two-way
efforts will facilitate PetKit to build the most influential
"one-stop" pet consumption platform in the industry.
