The Chinese pet products market is growing well
Els Pet (Chinese: 小壹智能), a Chinese pet smart products ODM company, has raised tens of millions of CNY in a Series A round of funding exclusively from Jinding Capital's (Chinese: 金鼎资本) fund. This round of financing is mainly used to deepen the supply chain.
Founded in 2016, Els Pet is a company dedicated to providing OEM/ODM services for smart pet brands, whose products are now sold to more than 20 countries and regions around the world. It has reached strategic cooperation with many well-known pet supply brands.
From the data, the trend of consumption upgrading, pet smart supplies growth rate of more than 1000%, pet consumption to high-quality upgrade.
The current domestic pet products market ushered in development opportunities. First, the rapid development of cross-border e-commerce opens up the channel of domestic products to the sea; second, the domestic supply chain advantage is obvious; third, overseas consumption upgrades ushered in the opportunity for Chinese brands.
Gong Yuan, the founder of Els Pet, said that after this round of financing, the company would rely on the full process service capability from research and development design to manufacturing accumulated over several years to create smart pet products for Chinese pet brands efficiently.