Fulei Network Techology Co., Ltd. (“Furbulous”) recently has announced the completion of the angel+ round of funding.
Furbulous is a pet overseas brand mainly engaged in the research and development, production, and sales of smart pet products, committed to providing users with relevant pet products and services. The main products include smart litter Box, pet water dispensers, feeders, trackers, etc. The products are selling well in over 10 overseas countries and have over 10 strategic cooperative overseas warehouses in North America and the European Union, providing one-stop services for the company's overseas transportation, warehousing, and distribution.
According to Furbulous, its core product smart litter box “Furbulous Box” is the world's first self-cleaning and packaging cat litter box. Furbulous has overcome the problem of automatic packing and dumping of cat litter. By ensuring the cleanliness of the interior and cleaning process of the cat litter box, it protects the health of pets and pet owners.
According to 360 Research Reports, the global Smart Pet Products market is worth USD 3.37 billion in 2022 and is expected to reach USD 10.73 billion by 2028, with a compound annual growth rate of 21.3%. This growth is driven by the increase in dog and cat adoptions, increasing demand for pet related products, and the scientific and efficient concept of pet care.
In addition to Bostal, many companies are competing in the Smart Pet Products market, such as Petkit (小佩宠物), Dogness (多尼斯), Niaoyuhuaxiang (鸟语花香), HomeRun (霍曼), Petsnowy (糯雪) in China, Radio Systems Corporation, Sure Petcare, Whistle, FitBark, Gibi Technologies in the United States, Tractive in Austria, and Ferplast in Italy.
Martin, founder of Furbulous, stated: “70% of purchases in Europe still occur offline, so we hope to make Furbulous products accessible to European consumers in various life scenarios. The construction of offline channels is not only a sales task, but also a part of brand visualization. Only through frequent contact in daily life can the value of a brand be better demonstrated. “
Furbulous completed the angel round financing of millions USD in August 2022, it was exclusively invested by K2VC (险峰长青) with follow-on investments from Renren Tech (人人游戏).This round of financing was invested by Realharmony Capital (锐合资本), funds will mainly be used for product research and development, supply chain construction, and brand building.