Pet Marvel is a new Chinese pet smart supplies brand, with solid quality control capabilities and original R&D strength, and recently completed its Series A financing.
The pet supplies brand Pet Marvel(Chinese: 鸟语花香) has recently completed a series A financing round of tens of millions of RMB led by CICC Capital and followed by NICE Group. This round of financing will be mainly used for product development, team and supply chain construction, marketing and channel expansion.
Founded in 2019, Pet Marvel is dedicated to developing pet smart products that are more pet-friendly and more convenient to meet new consumers’needs of smart pet care. Its intelligent products include feeding, drinking, smart toilet, pet care and toys, of which feeding, drinking and smart toilet are dominant.The overall number of SKU is between 35 to 40 and its 2021 GMV was nearly CNY 100 million.
From its channel performance, 85% of domestic sales come from online platforms, and it also cooperates with offline pet stores, pet hospitals and chain superamrkets. While expanding the domestic market, Pet Marvel also successfully entered the markets of the United States, Korea, Japan, Thailand, Germany, Brazil, Australia.
Since 2020, Pet Marvel has fully refined its R&D strength and has completed the layout of the whole scene of intelligent technology pet raising. Since the establishment and operation of the brand's private domain in early 2021, Pet Marvel has a user retention rate of over 95%, with each old user buying 1.8 units of products on average.
In the future, Pet Marvel will continue to consolidate the brand barriers around the following three key words: hard power, soft communication and close interaction with consumers.