Vetlia-Mexico-Funding
Vetalia, a Mexican veterinary services startup, has completed a US$10 million investment round led by investors such as Lukas Keindl, founder of BondVet; Andrea Viejo, who was the General Manager of Laika Mexico; Terry Gutierrez, Country Manager of Rappi Mexico; Sujay Tyle, co-founder of Merama; and the Gutierrez Muguerza family office from Monterrey.
Vetalia was founded by María Gutiérrez and Marion Benítez Landa. It specializes in pet care through modern clinics and a technological platform that – according to a press release – aims to provide a one-stop-shop where people can find everything related to their pet care in Mexico and Latin America.
María Gutiérrez, co-founder and CEO of Vetalia, said in the statement:
“For more than two years we have been studying the industry, speaking with veterinarians and pet parents to understand their needs, thus we have defined a very clear focus towards human capital. We want not only people and pets to benefit from great service, but also veterinarians to have a better quality of life and work. We have investors who are very committed to the project and to the mission of transforming the pet care industry in the region”.
Marion Benítez, co-founder and Head of Expansion of the company, expressed:
“We are a global team with extensive experience in the local market, which we know is growing by leaps and bounds and has an estimated value in 2023 of over US$27 billion dollars according to Euromonitor figures. Our expansion plans contemplate opening 50 clinics in the region over the next 5 years, starting with the main cities in Mexico, and expanding to countries such as Chile and Colombia in the medium term.”
It should be noted that, according to the information, 80% of the founding team is made up of women, who bring their experience in the veterinary industry in the region.
With the capital injection, Vetalia will invest in business expansion, the launch of the technological platform, team formation, and clinic openings. The first opened its doors on July 24, 2023, in Mexico City; while the second and third are projected to open before the end of 2023.
Why is it important for LatAm pet care startups?
- Some analysts, like the firm Common Thread, believe that the implementation of technological tools in the pet care industry will be essential in the immediate future.
- Several studies, such as the one by Euromonitor conducted in 2021, pointed out that pet care was one of the industries that grew during the covid-19 pandemic. In 2022, it reached US$261,000 million and is expected to have a CAGR of 6.1% per year.
- Despite the complexity of raising funds for startups in 2022 and 2023, the investment in Vetalia shows that investors are willing to bet on startups that integrate technology into their business model.
