China

Investors bet on pet food maker to feed your cat and dog

China's dogs and cats get plenty of love from their owners, but it appears there's also plenty of interest from investors with Fullpet planning to use its Series B funding to expand its pet food business.

It seems China's younger generation are put off having children and instead opting to devote their energy and care on their pets. And this trend is helping the pet industry gain the attention of the capital market.

Fullpet, a Shanghai-based pet food maker, said on Tuesday that it had completed its Series B fundraising of about $43.6 million.

Proceeds from this fundraising will be used to build a fully automated factory near Shanghai, in addition to building a pet food brand under its own name. Addor Capital, Shenzhen Capital Group and Jinding Capital were among those who joined the round of fundraising.

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