A Yorkshire company which manufactures personalised pet food using only natural ingredients has secured a multi-million pound investment to accelerate its growth.
Pure Pet Food has raised the funds from Mercia’s Northern Venture Capital Trust (VCT) Funds and NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.
The latest funding round follows a £2m investment by the Northern VCTs in 2019 and will allow the Cleckheaton-based company to continue to support its ambitious growth plans and development of its software as a service (SaaS) platform and data capabilities.
Established in 2012 by childhood friends Daniel Valdur Eha and Mathew Cockroft, Pure offers air-dried food made from natural, high-quality ingredients. Sales have accelerated in the pandemic, as more pet owners have chosen to shop online and sign up to its subscription service.
Mat, co-founder of Pure, said: “The investment will help Pure continue to provide the very best service to our customers, create deeper connections, significantly grow our customer base, offer more personalised health-based products and services, develop and grow our retail proposition with Pets at Home and continue to lead the air-dried pet food market in the UK.”
Aaron Lawson-Clark, investment director of Mercia, said: “We’re delighted to support Dan and Mat as they expand Pure Pet Food in the fast-growing pet food sector. With dog ownership and home delivery on the rise and owners generally focusing more on health, Pure provides personalised pet nutrition that is easily accessible on a secure and intuitive platform.
Square One Law provided legal advice to Pure on the investment while Gunner Cooke LLP advised Mercia.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.