PsiBufet (Dog’s Buffet), a producer of premium fresh dog food in Poland, has secured a total of PLN 5 million (US$1.3 million) in its latest financing round. The company aims to use the acquired funds for further expansion, focusing on increasing sales, expanding the competences of its staff and improving its product range, according to senior company representatives.
Investors who backed the Polish startup in the recent financing round include U.K. fresh dog food delivery service Butternut Box and the Warsaw-based venture capital fund Kogito Ventures, among others. In its pre-seed round, which took place in early 2020, PsiBufet had acquired PLN 1.6 million (US$410,000) from a number of domestic and foreign investors. This capital injection allowing the company to launch its production facility.
Piotr Wawrysiuk, CEO and founder of PsiBufet, told Petfoodindustry.com that the company is a family business he initially set up with his mother and sister, building on the family’s love for their pets, which include two dogs and four cats.
“Since September 2018, I have managed the entire company on my own, spending 100% of my time on it. Eighteen months later, I secured financing that allowed us to enter a rapid growth path with the backing of venture capital funding,” Wawrysiuk said.
The acquired funds enabled PsiBufet to open a production facility in Poland’s capital, Warsaw, where it makes fresh dog food.
“The dog food we offer is made from natural, human-grade intermediates, gently steam cooked and delivered directly to the door of our end customer,” Wawrysiuk said. “Daily portions are tailor-made based on the individual needs of our customers, using data entered in an online form that is available on our website.”
Asked whether the company is considering expanding to foreign markets, Wawrysiuk confirms he is eyeing an increased international presence for PsiBufet.
“In the long term, we are definitely planning to do this, but in the short term, we want to focus on scaling up our business in Poland,” he said. “We know this market very well, we have established operations and logistics here. In addition to this, Poland is a very prospective market where we see significant potential for further sales growth.”
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