PetPlate is a Black owned pet food business that sells ready-to-eat meals and organic treats and supplements for dogs through an online subscription service and the independent pet retail channel.
PetPlate founder Renaldo Webb credits the inspiration behind the company to his work as a consultant for pet food companies, where he learned about the ingredients going into kibble. When he saw the ingredients being used in traditional dog food he was appalled. He realized that pet owners wanted a fresh option.
All products are made in a USDA facility and are developed by Webb in collaboration with veterinary nutritionist Dr. Renee Streeter, DVM, DACVN.
According to Packaged Facts, U.S. retail sales of pet food will reach $37.1 billion in 2021, up 6.4% over 2020. Sales are projected to reach $47.9 billion in 2025, equating to a robust 6.6% compound annual growth rate.
By 2025, it is estimated that e-commerce will account for 55% of total U.S. pet food sales, including purchases initiated online through the digital storefronts of brick-and-mortar retailers.
The demand for super-premium pet food is likely to invigorate the industry for years to come, spurred by natural formulations and science-based foods and the advance of non-traditional forms, most significantly fresh (refrigerated/frozen).
“PetPlate is uniquely positioned to respond to consumer demand for healthier pet food options that lead to better health outcomes for our pets,” said Webb. “Unlike traditional kibble, PetPlate products do not contain rendered meats, by-products, or artificial ingredients that can make a dog sick. Each meal is gently cooked and made with healthy ingredients for a complete and balanced diet. Dogs on a PetPlate diet experience an array of health benefits, including better digestion, weight control, more energy, and allergy relief. ”
Last month, the New York-based startup announced that it had closed $19 million dollars in series B funding.
The investment round was led by Pendulum, with follow-on investment from existing investors DF Enterprises and 301 INC. Other investors include Conversion Venture Capital (CVC2), plus existing investors Marco Polo, Inc., Fernbrook Capital Management, and Amity Supply.