Alvar Pet raised half a million euro from a group of angel investors from Finland.
Alvar Pets, a Helsinki, Finland-based pet food producer, completed a EUR 500k ($550k) capital invstment round.
Teh funding was provided by a range of 12 investors from Finland, including Veli-Matti Mattila, Asko Känsänen, Pontus Juntunen, Mårten Janson, Marianne Saarikko-Janson, Tero Luoma, Ali Omar, Ville Herlin and Olli Herlin.
Alvar Pets was founded in 2019 by former EQT analyst Ilari Haataja (CEO) as it aims to build a subscription-based operation for pet food delivery. The company's mission is to minimize the carbon footprint of dogs as, according to Haataja, the climate impact of dog food largely arises from the choice of raw materials. Thus, in their products, for example, red meat has been replaced by losing chicken or herring from Nordic sources. In production, the company uses wind power, and the product packaging is completely recyclable.
The company will start commerciallizing its products in April 2020.