Crit Ventures has invested 1.5 billion KRW in PetFarm, a burgeoning animal pharmaceutical distribution and manufacturing company in South Korea, leveraging opportunities in a growing pet healthcare market.

Information on the Target

Crit Ventures has announced an investment of 1.5 billion KRW in PetFarm, a company engaged in the distribution and manufacturing of animal pharmaceuticals. PetFarm successfully raised a total of 5.5 billion KRW in funding, with 3.2 billion KRW raised during its Series A round in 2023. The company is currently in the process of securing additional investments for its Series B round.

Founded in 2019, PetFarm launched a dedicated B2B platform for animal pharmacies called 'PetFarm' in 2020, marking its entry into the pet medication distribution market. The company has entered into exclusive supply agreements for canine and feline heartworm medication and pharmaceuticals with reputable companies such as Iglevet, Kwangdong Pharmaceutical, and Kyungbo Pharmaceutical. This strategic positioning has allowed PetFarm to secure memberships from approximately 50% of the 12,000 animal pharmacies in South Korea, establishing the largest distribution network in the industry.

Industry Overview in South Korea

The pet care market in South Korea is experiencing significant growth, driven by an increasing pet ownership rate and ongoing improvements in governmental policies surrounding animal wel