Butternut Box raises £15m from Five Seasons Ventures and White Star Capital to fund European expansion
The round was led by Five Seasons Ventures and White Star Capital, with capital directed towards new markets and product development.
Providing fresh and personalised dog meals through a direct-to-consumer subscription model, Butternut Box operates across multiple European markets.
London-based fresh dog food provider Butternut Box has secured £15m in fresh funding to support its expansion into European markets and the development of new product lines. The capital injection was jointly led by Five Seasons Ventures and White Star Capital, with participation from existing investors Passion Capital and Literacy Capital, as well as debt provider Kreos Capital.
Established in 2016, the firm has experienced rapid growth, delivering over 8 million meals and seeing revenue surge by 700 per cent over the previous year. The newly acquired funds will be directed towards international growth and product innovation, including new dishes, snacks, and toys.
Alongside the financial backing, former SkyBet chief executive Richard Flint is set to join the company board. The investment aims to solidify the brand's position as a leading pet wellness enterprise.
From the founder
"We’re so excited to have the backing of amazing investors to take Butternut Box to the next level and grow a leading pet wellness company in Europe. Even more exciting is that we will reach more pets and could help them to live healthier, happier lives. The transformation stories we hear from pet parents each day spur us on to make Butternut Box even better"
David Nolan
CEO at Butternut Box
Investor perspective
"Last year we were actively searching for a pet food investment opportunity around two key trends: the humanisation of pets and the increasing shift towards natural food, with the connected premiumisation of the overall experience. The team at Butternut Box was spot on in terms of their product positioning, their direct-to-consumer model and strong commercial traction. This is one of the strongest teams we have seen in foodtech in Europe over the last few years: we had to back them"
Ivan Farneti
Managing Partner, Five Seasons Ventures
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
About the company
Butternut Box
Butternut Box delivers fresh and customisable dog food directly to pet owners.