PawCo Foods, the plant-based dog food brand founded by former Impossible Foods scientist Dr. Mahsa Vazin, has raised $2 million in seed funding.
The round was led by Elevate Ventures, with participation from angel investors such as Dropbox co-founder Arash Ferdowsi. The company will use some of the funding to open a second production facility in the Midwest, adding to its existing Californian facility. The remainder will be invested in growth, R&D, new recipes, and marketing.
PawCo claims to be the first plant-based dog food brand using AI technology to improve the nutrition and palatability of its products. The company has developed GreenMeat, a fresh plant-based meat for dogs which is used in all its recipes.
As reported by Axios, PawCo plans to start raising Series A funding within the next year, after seeing revenue reach $1 million by the end of 2023. The brand currently sells direct-to-consumer, but is hoping to get into retail.
“Major year”
PawCo was founded in 2022, and started out by launching a range of fresh-frozen meals made with GreenMeat. Called GreenBites, they are available in four flavors — Carrots, Peanut Butter & Apple, Blueberries & Veggies, and Pumpkin & Cranberries.
PawCo went on to introduce a premium food called LuxBites, designed to improve gut health and balance the immune system, at the beginning of this year. At the same time, the brand launched InstaBites, said to be the first fresh shelf-stable plant-based dog food.
“I’m excited to partner with Christopher and the team at Elevate Ventures as we embark on a major year for PawCo — through market expansions, new production facilities, and big product launches, we intend on solidifying the plant-based pet food category,” said Vazin. “We look forward to growing and providing pet owners with healthy and nutritious options for their dogs, while also creating a product that’s safer and more sustainable for the planet.”
