Soopa Pets, a Dublin-based business that makes healthy dog treats, is to hire ten extra staff after landing a €400,000 funding round.
The funding was led by business angels from the Halo Business Angels Network (HBAN) food syndicate, with support from Enterprise Ireland.
The new roles will be in customer support, sales and marketing, as the company – whose treats are now sold in the UK, Ireland, Spain, Germany, Denmark, Sweden and Singapore – targets further international expansion.
Founded by Barbara Hanly in 2012, Soopa Pets manufactures healthy pet treats made from 100% fruit and vegetables. After leaving a career in financial recruitment to start a dog-grooming business, Barbara decided to capitalise on the gap in the market for low fat, nutrient-packed treats for pets.
Nine investors from the HBAN food syndicate were involved in the deal that will provided Soopa Pets with funding, as well as ongoing strategic support and advice.
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Speaking about the funding, Barbara Hanly said: “The HBAN food syndicate has a wealth of knowledge and experience within the food sector and it is great to have them on board as investors, as they really understand what drives success.”
Michael Culligan, national director of HBAN, a joint initiative of InterTradeIreland and Enterprise Ireland, added: “The Soopa Pets story highlights the vital role angel investment can play in the development and international expansion of high-potential Irish startups.
“The Irish food industry is continuing to grow at an incredible rate. The investors in the HBAN food syndicate are well aware of the inherent potential in this area and have all been involved in starting or growing businesses in the food sector previously.”
Colm Healy, entrepreneur and lead angel in the Soopa Pets investment, said: “Barbara won each and every one of us over with her pitch. She has the passion and ability, as well as a viable business plan to hopefully make Soopa Pets a global success.”
In the 12 months to June 2015, Petangels Ltd, Soopa Pets’ operating company, had cash reserves of €5,000 and a net deficit of €15,000, having booked a loss of around €1,000 during the year.
Photo: L-R Stephen Twaddell, HBAN food syndicate; Orlagh Nolan, HBAN; Colm Healy, HBAN food syndicate; Pat Rigney, investor, HBAN food syndicate; Barbara Hanly, Soopa Pets
