East Ventures Injects Funding into Compawnion, Developer of Animal Health and Nutrition Services
Compawnion started its journey by releasing frozen food products for dogs under the brand "Pawmeals"
East Ventures injected initial funding into Compawnion, a pet health and nutrition startup with an undisclosed amount. Fresh funds will be allocated to increase distribution, research, development, and expand the product portfolio.
"As the pet industry continues to evolve, Compawnion's dedication to quality, innovation and pet welfare is unmatched. We believe Stephanie, Tania and Valerie will make breakthroughs and set new standards in the pet food and health industry," said East Ventures Principal Wesley Tay.
Compawnion was founded in 2020 by Stephani Herman (CEO), Tania Suganda (CMO), and Valerie Amintohir (CPO) who are also the first Advanced Canine Nutritionist certification holders from Indonesia. All three have career experience in the field of dog nutrition, trade marketing, business strategy, and Branding.
"With support from East Ventures, we are ready to take advantage of the huge opportunities in the rapidly growing pet food market in Indonesia. We are committed to providing convenience and comfort to pawrents by providing healthy and fresh food for their pets," said Compawnion Co-Founder & CEO Stephani Herman.
The founders realized that the pet food market in Indonesia was increasing in line with the popular trend of pet humanization. The Covid-19 pandemic has also triggered an increase in pets with many people looking for companion pets during social restrictions.
Because of this, demand for pet products, such as healthy and fresh dog food, has also increased. This trend is also changing the food market because owners are now increasingly paying attention to the welfare of their pets.
Compawnion started its journey by releasing frozen food products for dogs with brand Pawmeals. This food has been distributed to 13 cities throughout Indonesia, and claims to have achieved profit growth of more than 10x.
Following the success of Pawmeals, Compawnion released another release brand new UGO for customers looking for a fast and healthy daily dog food option. UGO is said to be one of the pioneers of fresh, preservative-free and long-lasting dog food.
Meanwhile, Compawnion is committed to creating a comprehensive pet ecosystem. For this reason, Compawnion will expand its product portfolio to dog food in 2024. Currently, the Compawnion team is conducting in-depth market research and carrying out dynamic product development.
"We are committed to providing a new standard in pet nutrition, because we believe our pets deserve the best. We create fresh, healthy diets for pets, to promote healthier, happier lives for them." Close Chief Product Officer Valerie Amintohir.
Quoting a survey from Rakuten Insight Center Of the 10.442 respondents, 67% had pets, followed by 23% who did not, and 10% who had. This survey also revealed that 42% of pet owners spend more than IDR 100 thousand per month, then 38% spend IDR 100-300 thousand per month, and 14% spend IDR 300-500 thousand per month.
Of the total expenditure, 88% was allocated for pet food and snacks, around 43% for items related to cages, and 41% for care and hygiene products.