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 current facility in California. The rest will be invested in growth, R&D, new recipes, and marketing.
PawCo claims to be the first plant-based dog food brand to use AI technology to improve the nutrition and enjoyment of its products. The company has developed GreenMeat, a fresh plant-based meat for dogs that is used in all of its recipes.
As reported by Axios, PawCo plans to begin 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 it hopes get into retail.
“big year”
PawCo was founded in 2022, and started by launching a range of fresh-frozen foods made with GreenMeat. Called GreenBites, they are available in four flavors — Carrots, Peanut Butter & Apple, Blueberries & Veggies, and Pumpkin & Cranberries.
PawCo introduced a premium food called LuxBites, designed to improve gut health and balance the immune system, earlier this year. At the same time, the brand launched InstaBites, which is 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 big year for PawCo — through market expansion, new production facilities, and major product launches, we aim to strengthen the food category of plant-based pet,” Vazin said. “We look forward to growing and providing pet owners with healthy and nutritious options for their dogs, while also creating a product that is safer and more sustainable for the planet.”
