TLDR:
- VCs prefer dog-related businesses over cat startups in the competitive pet industry
- Dog-centric startups like Rover attract more funding compared to cat-based startups like Meowtel
In the competitive pet startup industry, cat startups like Meowtel face challenges in securing venture capital funding due to a preference for dog-related businesses. Meowtel, a cat-sitting startup, recently announced profitability despite struggles to find investors. In contrast, popular dog-focused startup Rover was acquired for $2.3 billion. Dog startups like Loyal and Fi have raised substantial funding, while cat startups face limited capital and fewer ventures. The pet industry in the US is booming, with pet healthcare, insurance, and other services gaining popularity. While dogs remain more popular as pets in the US, cat startups are working to catch up in the battle for VC money. The preference for dog startups may stem from cultural beliefs and the personalities of venture capitalists, creating a disparity in funding between dog and cat businesses in the industry.
