Online pet food and accessories store Petbox has secured seed investment from early-stage accelerator Mashup Angels.
Petbox is a service which curates the best pet products for customers based on user and pet data. Simply registering your pet on the site or app will give you a selection of recommended food, snacks and toys. CEO of Petbox, Hyun Seok Lee, says that the company will use the investment to make its personal recommendation technology even better.
The site also offers customers advice about raising pets, as well as other products to keep your best friends healthy, depending on where they’re at in life.
Petbox currently sells more than 5000 products from international dog and cat food brands — generally at a lower price than supermarkets. This is thanks its distribution structure which deals directly with the suppliers to remove most intermediary costs.
Customers can also apply to get new replacements for any products received with a shelf life of under three months. The company says it doesn’t need to worry about items going out of stock, offering same-day delivery through its optimized logistics and inventory systems in place.
Investor, Mashup Angels, is a Korean seed accelerator that has invested in over 50 companies, and says that Petbox has done well in a market where many competitors are popping up. “The domestic pet industry is rapidly growing every year, and we expect it to become a market in excess of 6 trillion won by 2020,” said Mashups Angels Partner, Sanghyuk In.
