PitPat, a UK-based pet-tech company, has launched an equity crowdfunding campaign on Crowdcube to raise £500,000 as it prepares to develop its new internet-based cloud platform.
Founded in 2014, PitPat debuted its activity monitor for dogs on Dragons’ Den earlier this year. The company, which describes itself as the “Fitbit” for dogs and offers an app with its products, stated it is currently in talks with pet food and insurance companies about how its product can help them. It was revealed:
“Over 3000 users have downloaded our app, and we have received positive responses on how easy it is to use, and how much they like what it does. With 9 million dogs in the UK (over half of them overweight), and 150 million dogs worldwide, this already represents a major market. Our internet-based cloud service will join owners together as a community. Crucially, this will form the basis of an invaluable data, intelligence and communications proposition to partners in the pet industry, including food, insurance, pharmaceuticals and veterinary care.”
Andrew Nowell, CEO and Founder, also commented:
“This is a really exciting time for us as we look to grow the business through the platform we are developing, and expanding into new markets. By investing in PitPat you can join us on what I think promises to be an exceptionally interesting and rewarding journey. As a retail product, PitPat is already connecting dogs with their owners. Soon, through commercial partnerships, the PitPat platform will offer the opportunity to redefine how the pet care industry connects with its customers.”
Along with the building the new platform, the company plans to use the Crowdcube funds to help expand its team. Since its launch, the campaign has successfully secured nearly £60,000. It is set to close at the end of November.
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