Percuro

Idea

Introduction

We share our planet with 500 million companion animals who consume 20% of the world’s meat and fish. Our challenge was to develop the first low carbon, next generation pet food which is sustainable, ethically farmed and formulated for the health of our pet’s body and mind. The Percuro team have done this by using an innovative and sustainable protein – insects.

Percuro is clean food-obsessed. Our brand is ethical in its ingredients within the bag and through its supply chain. We want to make a difference in the lives of pets without collateral damage to the planet and being responsible to our customers. The formulation of our complete insect pet food for the body and mind has a low carbon pawprint (light on water, energy and land and sourcing ingredients locally) whilst being hypoallergenic and nutritious with low inflammation properties.

Our product tastes great, in an independent peer group 2 bowl test 9 out of 10 dogs preferred Percuro dog food.

Substantial accomplishments to date

- Have a fantastic team that has proven start-up and branding expertise in pet food/investment management sectors. This is supported by our love for our pets and the planet.

- We have developed a unique and proprietary formula, that is resonating with our consumer demographic.

- Our products taste great based on an independent 2 bowl taste test where 9 out of 10 dogs preferred Percuro.

- Have launched our direct-to-consumer site in the UK & Germany, with a roll-out plan that includes additional EU markets later in 2021.

- Sales performance continues to excel, with sales up 136% in April vs March 2021*.

- Our returning customer growth rate is up double-digit in April compared to March 2021.

- Have agreed key online & bricks and mortar retail partnerships in the UK, Italy & Asia

- Raised £340,000 seed investment in the previous 10 months.

*based on unaudited management accounts

Monetisation strategy

Route to market strategy:

Our main sources of revenue will be generated through either our B2C or B2B model. We have recently launched our direct to consumer site in the UK & Germany, and we aim for 50% of our revenues to be generated from this platform.

In petfood across the world e-commerce sales are growing significantly especially for premium brands. We also believe that online retail partnerships are important i.e. Amazon will provide Percuro with global reach very quickly. Bricks and mortar are equally still a very important channel to build brand awareness and scale, where possible will be selective in our approach across markets to ensure the partnerships we engage in supports our strategic vision.

Innovation:

Portfolio: we will look to expand our portfolio into cat products, dry and wet. As well as launching treats and exploring plant based innovation opportunity for dogs.

Market expansion:

Our approach is to lead this segment globally over the next 3-5 years.

Use of proceeds

The use of the funds received will be specifically used for the following:

- Brand building through digital marketing = (40%)

- Retailer brand building investments = (30%)

- Innovation to launch treats & plant dog range = (20%)

- New market expansion into Asia = (10%)