Pet ‘wellness’ brand Bella & Duke has raised £3.5m in its latest funding round.
The new investment will be used to help the direct-to-customer brand expand into the cat food market and to grow sales, marketing and recruitment activities.
The company was founded in 2016 by Mark Scott and Tony Ottley after both their dogs died of cancer. It now employs 38 people in Blairgowrie, Perthshire and is backed by private equity firm Mobeus.
Four years later, the Scottish company is providing raw, fresh pet food with natural ingredients to more than 45,000 dogs across the UK, serving 11 million meals a year.
A recent survey from B&D found that 91% of owners saw an improvement in their dogs’ digestion and overall health within eight weeks, when they switched to raw – with a 100% improvement reported in dogs with IBS.
“Such success has helped bring in the significant investment in this latest round led by Mobeus and the Scottish-based firm is set to deliver 105% year-on year revenue growth,” said CEO Mark Scott.
“This investment is great for Bella & Duke moving forward and reiterates to the industry how committed we are to our mission in getting raw pet food into the mainstream.
“We consult the latest research, speak with ground-breaking scientists and thought leading vets, look at clinical feedback and listen to our amazing customers, so that we know our meals will make a huge contribution in helping dogs achieve optimum health.”
Bella and Duke also secured a £100,000 loan from UMi Debt Finance Scotland to finance the hire of a further two full-time members of staff and two part-time workers at its distribution centre. The funds will also support plans for increased sales and marketing activities.
Turnover has grown to £6m, with a further 50% increase in sales forecast during the next financial year, The Herald reported in February.