Butternut Box, a U.K.-based startup that prepares and ships healthy food and supplements for dogs, is raising £280 million ($354 million) in a round of funding from General Atlantic and L Catterton.
Founded out of London in 2016, Butternut Box serves a handful of European markets with myriad culinary products spanning the meat and vegetable fray, with the promise of “human-quality” ingredients tested and tasted by real people.
Prior to now, Butternut Box had raised a little over $110 million in funding across several rounds, but its latest cash injection stands out in a world of venture capital seemingly averse to anything beyond smaller early-stage investments. This, perhaps, is testament to the enduring and robust market for all-things pet.
Indeed, the broader pet food market was pegged as a $100 billion market in 2022, with canine chow representing more than 40% of that segment. The problem, however, is that as many as 65% of dogs in the U.K. alone are estimated to be overweight. And this is why the folks at Butternut Box cook and prepare various dog-friendly meals, in addition to health-focused snacks and supplements, and allows the dog-owner to select their goods for delivery as part of a regular subscription.
Butternut Box Image Credits: Butternut Box
So far, Butternut Box has served t …
