Breezytail considering Series B fundraise to scale up pet healthcare business – CEO

Breezytail, a Seoul, South Korea-based pet skincare products developer, is considering raising a KRW 10bn (USD8.5m) Series B round in 2H22, CEO Yoon Sun-jin told this news service.
Funds will be used to diversify its product portfolio, strengthen its offline sales channel, and for overseas expansion, he said.
It welcomes global financial investors and strategics particularly pharmaceutical, healthcare and pet industry players, he said.
The company plans to enter the pet pharmaceutical sector starting with its own-developed skincare brands and expects to launch new dental and health supplement products this year, Yoon explained. PetO’CERA, BLOOMING, PETO’LIVING are its current pet skincare brands, as per its website.
It raised a KRW 4.2bn Series A round from domestic investors including Korea Investment Partners, KB Investment and Enlight Ventures last month, as announced. It will use the funds to launch new healthcare product brands, secure offline sales channel, and prepare for US expansion, he stated. The company targets the US as it is the largest market for pet products and it is gearing up to enlarge its client pool in the region, he noted. Its products are already traded in US online marketplaces such as Amazon and Chewy.com, added Yoon.
Breezytail is also in the process of acquiring a domestic pet snack company with the Series A funds, said Yoon, pointing out that this deal is being carried out to strengthen its pet product manufacturing capabilities and broaden its portfolio pipeline. The acquisition is expected to be completed by this year, said Yoon without further elaborating.
In 2020, the company made KRW 2.3bn sales revenue with 8% operating profit and expects sales revenue of about KRW 6bn this year, he continued.
Going forward, the company will consider going public in Korea in 2024, said Yoon without elaborating.
Its website is responsible for about 60% of online sales and other major domestic e-commerce platforms like Coupang and Market Kurly also sell its products, continued Yoon. Moreover, it strives to reinforce its B2B sales channel by enlarging partnerships with domestic pet grooming salons, he added.