▪ Redalpine, HV Capital, and 468 Capital back Berlin-based pet healthcare start-up
▪felmo offers a combination of at-home veterinary services and a wide range of digitalhealth services to pet owners
▪The additional capital will be used to expand into new regions, build up the team aswell as offer additional digital services around pet health
Berlin, January 14th, 2021 – Just a few months after raising a seed financing round, felmo – the Berlin-based pet health brand – successfully raised several million euros from leading European investors in Series A funding. Redalpine joined the round as a new and leadinvestor. HV Capital and 468 Capital, felmo’s previous investors, have also followed on in this round. The additional capital will be used to expand felmo’s services into new regions, scale the team, and add additional pet healthcare services.
felmo’s ambition is to become the leading pet health brand. The company offers a wide anddiverse portfolio of veterinary & digital services to provide pet owners with barrier-freeaccess to pet healthcare. By cleverly combining at-home veterinary services with digitalproducts the company enables pet owners to receive both – an end to end solution in caseof health issues as well as the ability to proactively manage their pets‘ health with the felmoapp. The app offers several features such as a chat with a veterinarian, digital healthrecords, fully digital health-checks, and more.
Pets suffer significantly during traditional stationary veterinary visits: there is no properappointment preparation, long waiting hours, and being surrounded by other pets in anunfamiliar environment leads to extreme stress for pets and in turn the pet owners. Moreover, pet owners lose time getting to the vet and experience delays as well as waitingtimes at the vet practice. Owners also don’t have easy access to health data or to ad-hocinformation after the visit. felmo is on a mission to make vet services stress free and keep pet owners informed abouttheir pets’ health status at all times: more than 90% of services and treatments can be donewith an at-home visit. Combined with a seamless digital experience felmo is a real no-brainerfor pet owners by providing better and less stressful health care for pets and moreconvenience for their pet owners.
Veterinarians also benefit from felmo with more flexible and predictable working hours, ahealthy work-life balance, more autonomy as well as exposure to a large team of their peersthat they can exchange professional opinions with.felmo has already expanded the business into several regions across Germany andgenerated exceptional customer traction and satisfaction combined with strong growthdespite the current pandemic.
The two founders Philip Trockels and Lars Giere are excited about the next stage in thebusiness: “We are very happy to have Redalpine on board as our new investor because theyshowed exceptional conviction of the model as well as pragmatic thinking in every discussion we have had with them. Every one of us is extremely motivated to redefine howpet healthcare is offered to pet owners and to build the leading brand in the space. Redalpine’s experience in B2C business models, brand building as well as locally actingbusinesses, makes them a perfect partner alongside our existing investors.”
Aleksandra Laska, Partner at Redalpine added: “Studies have shown that fewer than half ofall pets enter a vet practice calmly and pet owners often fail to bring their pets to theveterinary practice because they are unwilling to put up with the stress. We are excited toback a company that is solving this big issue in a technically savvy and practical way for boththe pet owners and the vets who work with felmo. felmo’s growth since inception highlightsthe large extent of the problem that the team is solving and the demand for their services. We are excited about felmo expanding into many more regions and are looking forward tobeing part of that journey.“
Robert Maier, Partner at HV Capital added: “This financing round reflects felmo’s and itsfounders’ strong vision. We are happy to support the felmo team again after our initialinvestment in July 2020 to revolutionize the pet healthcare market together.”
Berlin-based felmo was founded in 2019 by Philip Trockels and Lars Giere. felmo offers aholistic pet health service experience that combines everything pet owners need to take careof their pets in an optimal way: Veterinary at-home services and digital features &accessibility. The at-home visits lead to a stress-free medical treatment for the pet and thepet parent. The whole experience is accompanied and enriched digitally via the felmo App.The App offers a veterinary chat,a digital health record, individualized health tips, digitalhealth checks & tracking possibilities, and many more.
Redalpine Venture Partners is a leading European early-stage venture capital investor withover $500m AuM and a sector-agnostic investment strategy. Redalpine’s diverse teamsupports its 60+ portfolio companies not only with a financial investment but also with itsin-house operational and subject matter expertise and extensive international network.Redalpine’s ambition is to help talented entrepreneurs turn their visions into reality and scaletheir businesses into international success stories. www.redalpine.com
About HV Capital:
Since 2000 HV Capital, formerly HV Holtzbrinck Ventures, has invested in Internet andtechnology companies through various generations of funds and is one of the most successful and financially strongest early-stage and growth investors in Europe. HV Capitalhas already invested in around 200 companies, including Zalando, Delivery Hero,FlixMobility, and SumUp. The total of all HV Funds amounts to €1.7 billion. The companysupports startups with capital between €500,000 and €50 million. This makes HV Capitalone of the few venture capitalists in Europe that can finance startups through all growthphases. www.hvcapital.com
About 468 Capital:
Founded in 2020 by Twitter, Airbnb, and Rocket Internet Alumni Florian Leibert, LudwigEnsthaler, and Alexander Kudlich, 468 Capital is a technology investor focused on Software,Artificial Intelligence, and Consumer Technology. 468 Capital invests in Europe and the BayArea.
Further Information: https://www.hvcapital.com
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