Nuwa Capital leads $1.2M pre-seed round in pet health care startup Mascotte Health

Dubai, UAE, July 11, 2023 – Nuwa Capital has announced the emergence of portfolio company Mascotte Health from stealth mode, following the successful conclusion of its pilot program run in collaboration with US-based veterinary clinics. This announcement also includes the company’s successful $1.2M pre-seed funding round led by Nuwa Capital, with participation from prominent angel investors at Uber, Turo and Airbnb.

Launched in April 2023, Mascotte Health is solving for the inefficiencies in veterinary care by offering tech-enabled products and services for veterinarians, who sit at the core of the pet care value chain. The team collaborates with veterinary practices to develop tech-enabled triage and customer experience solutions that effectively address systemic pain points.

The subscription-based model enables clinics to boost revenue, streamline operations, and combat staff burnout. This is made possible by pairing their highly trained, licensed, and registered veterinary professionals through its digital interface with veterinary practices it partners with.

Founder and CEO Bora Hamamcioglu brings a unique blend of operational and investment experience to Mascotte Health. With a successful exit from his previous venture in the United States and vast investment experience across MENAT, Bora has identified a business opportunity borne out of personal frustration he faced as a pet owner, and shared by most pet owners globally.

Khaled Talhouni, Managing Partner at Nuwa Capital, said, "Investments in pet tech have soared over the past few years, with investors lining up to invest in businesses targeting such a large-scale market and a largely untapped global problem, and we are eager to embark on this journey to bring their vision to a broader base".

The team's pilot tests have shown very promising results, including a significant reduction in consultation time, a decrease in calls and no-shows, and an increase in prescription compliance, which ultimately increases margins and revenue for their veterinary partners.

"Our mission is driven by the pure love I have for my senior dog, Mocha, and that is essentially the founding story of Mascotte," shared Bora Hamamcioglu. "From that love and passion, we have built a company dedicated to making a meaningful impact in the way we care for our pets and support the veterinary professionals who play a vital role in their well-being. We strive to become the trusted operating partner for veterinary practices by enabling them to provide exceptional care to pets. Nuwa Capital truly understood the essence of our founding story and connected with our long-term vision. Their firsthand experiences as pet owners also provided a unique perspective that resonated deeply with us."

According to the latest data received from World Animal Foundation, The Global Pet Market Industry was valued at $246.66 Billion in 2023 and is expected to cross $368.88 billion by 2030. A surge in new owners and increased per-pet spending have driven investors to recognize the scale of this industry, with investments growing by 20 times over the past few years.

Related: Exciting Investment Prospects: Tech Sectors Set to Shine in 2023

Updated on October 7, 2024

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