Petnet has entered into an agreement to acquire SlimDoggy Inc., giving Petnet access to SlimDoggy’s petfood database and patent pending technology, which the company plans to incorporate into its “Smart” line of pet products.
Together, Petnet and SlimDoggy aim to make feeding a pet and selecting appropriate petfood as simple and convenient as possible. The acquisition allows Petnet to leverage the data and methodologies SlimDoggy has developed into an innovative pet feeding system that empowers pet owners to improve the overall health of their pets through proper diet.
In the U.S., pet owners are estimated to have spent nearly $24 billion on petfood in 2014. As the industry continues to grow, data indicates that there are now more pets than children in U.S. households, with 180 million dogs and cats in the U.S. and more households owning a pet than having children. Additionally, consumer spending on smart home systems and products is expected to hit $39 billion by 2019.
Petnet addresses the food-related needs of this growing demographic using a combination of petfood data and sensors to make proper pet feeding simple and convenient. The Petnet SmartFeeder ensures proper servings of the correct food, and alerts the pet owner when the food supply is running low and will automatically have more delivered to the pet owner’s door when it is needed.
"Our acquisition of SlimDoggy helps us to accelerate our vision of using technology to build a better world for pets,” said Carlos Herrera, founder and CEO of Petnet. “We’re deploying a sensor-enabled system powered by SlimDoggy’s data that will guide pet owners to the perfect food recipe for their pet, help them maintain healthy portions, and automatically deliver food to their home when they need it. It's the epitome of the connected home and the future of commerce.”
The majority of pet owners are unaware of the correct portion size and quality of food to feed their pet. In the U.S., more than one-half of the dogs and cats are overweight or obese, which leads to 15 percent shorter lifespans, and increased risk of disease including diabetes, osteoarthritis, cardiovascular problems, and even some forms of cancer.
“The amount and type of petfood is the single biggest decision a pet owner can make to impact their pet’s health. With the long and confusing petfood labels, consumers are left to guess when trying to make intelligent, healthy food and portion control decisions,” said Steve Pelletier, founder and CEO of SlimDoggy Inc. “We are excited to work closely with Petnet to improve the way petfood is served, evaluated and purchased, all the while helping to keep pets as healthy as possible.”