Petcube raises another $10 mln investment

Petcube, a well-known Ukrainian start-up for interactive communications with pets, has attracted $10 million from Almaz Capital, AVentures Capital, Y Combinator and other investors for business development.

According to a company press release, the funds received will be used to develop new products, marketing and expand distribution in North America and the world market.

This is the third investment of AVentures Capital in Petcube since 2015. The total investment by AVentures Capital in Petcube was $1.5 million. The fund also helped raise more than $9 million from other participants.

Referring to data from Euromonitor, the global pet care industry is estimated at $110 billion and is projected to grow to $128 billion by 2022, mainly thanks to the ConnectedPet category.

"With the help of interactive cameras for monitoring pets, Petcube is revolutionizing the world pet care market. The innovative devices of the company help people, who work a lot and are forced to leave fluffy pets at home due to work or travel, or have pets with special needs," the press release reads.

Petcube clients are the active users of the ConnectedPet category.

Petcube was founded in autumn 2012 by three Ukrainians: Oleksandr Neskin, Andriy Klen and Yaroslav Azhniuk. It is headquartered in San Francisco and has offices in Kyiv and Shenzhen (China).