Hongrui Biotechnology, China's leading pet biotechnology group, secured nearly 200 million yuan in its first funding round led by Guangdian Capital and Jinding Capital to expand operations and product offerings.

Target Information

Shenzhen Hongrui Biotechnology Co., Ltd., founded in 2013, is the largest pet biotechnology group in China. The company is well-known for its pet nutritional paste brand RedDog, which pioneered the pet nutritional paste category in the Chinese market. Its flagship products, nutritional paste and hair-removal paste, are ranked first in their category in China.

This recent round of financing, totaling nearly 200 million yuan, will predominantly support the acquisition of remaining shares in RedDog USA, the development of new pharmaceuticals and nutritional foods, and the enhancement of technical cooperation with top U.S. institutions such as the University of California, Davis, and Kansas State University, aiming to improve the health and nutritional welfare of pets.

Industry Overview

The pet care industry in China has been experiencing robust growth fueled by rising disposable incomes and changing lifestyles, with consumers increasingly investing in their pets' health and wellness. This shift has led to incre