Although a recent analysis of veterinary services in the US showed that the number of graduates from existing vet colleges will be enough to meet demand through 2035, as the number of pet owners continues to rise, that market could well outstrip supply.
For example, the dog population in the country alone has steadily increased from 52.9 million to a new peak of 89.7 million in 2024.
Not only has there been a huge spike in the number of pet owners, these individuals have also been approaching pet care differently.
In fact, a recent study validated what the pet industry has long known: younger generation pet owners are built differently. Owner age is actually a greater factor in determining the type of diet a dog is fed than income or education level.
This aligns with a shift that’s happening across the globe: GenZ and Millennial pet parents are more likely to report that they consider their pets to be the most important thing in their lives.
The demand for alternative pet care solutions, from dietary supplements to orthopedic bedding, is fueling a billion dollar industry. Morgan Stanley expects spending growth in the pet industry will reach 7% annually by 2030. Total US M&A volume has also increased through Q3 of 2024, signaling a healthy future for the industry.
To meet the evolving needs of these next generation pet parents, Leap Venture Studio, the world’s first pet care startup accelerator, was started to invest in companies that make pet parenthood more accessible, affordable, and sustainable.
The organization is now announcing its ninth cohort of seed-stage pet care startups for their 12-week accelerator program. Participating startups will each receive $200,000 USD, mentorship, and support for their companies.
To date, companies in the accelerator program have gone on to raise more than $200 million USD in follow-on capital.
The six startups joining the portfolio include:
- BistroCat, the world’s first fully automated wet cat food feeder that utilizes smart technology to identify flavor preferences and monitor feeding trends.
- Buddy Bites, a pet food brand with a purpose, donating to shelters with every single order.
- Happy Howl, a dog food company defying dog years with human-grade meals that combine unbeatable quality with ultimate convenience.
- James & Ella, a happiness and wellbeing company providing premium freeze-dried raw and raw-hybrid dog food.
- Oh Norman!, a pet brand creating joyful, cutting-edge pet products that are vet reviewed, all-natural, and give back to rescue dogs in need.
- Otis, the first pet company democratizing access to prescription medication for chronic and recurring conditions affecting 200M US pets.
The accelerator program will provide access to resources, mentors, networking opportunities and brand and marketing services. Founders will also have access to a network of industry experts and investors from Mars Petcare and Michelson Found Animals.
The program concludes with a Demo Day on May 16 where founders pitch their companies to top investors from the Mars Petcare and Michelson Found Animals networks.
This cohort will also mark the second year in which a social impact company has been invited to participate in select programming alongside the portfolio startups. Petcademy, which offers text-based pet training, community programs, and post-adoption support, will receive customized support to further their exceptional level of social impact for both pets and their people.
“It’s incredible to watch the level of competition for each cohort increasing every year,” said Rachel Sheppard, Director of Ventures at Mars Petcare and co-lead of the Leap Venture Studio & Academy.
“This group of startups stand out not only for their innovation, but for their deep understanding of the needs of next-generation pet owners. We’re excited to support them in their efforts to shape the future of pet care,” added the executive.
Said Paige Ellen, Senior Program Manager at Leap Venture Studio, Michelson Found Animals, “It’s inspiring to see so many of these companies prioritizing social impact efforts in their mission. From developing tech solutions that streamline adoption processes to partnering with shelters around the world, these startups are making a tangible difference in the lives of animals and the humans who love them.”
