Interesting. A friend of mine was trying to impress some girl and agreed to dog sit her small dog. He bought a box of that Lyka stuff. The dog wouldn't eat it so he gave it to me. My 15kg dog was eating three of those puck things a day which cost about $6-$7 each. So maybe a medium sized dog would need 4 of them per day. That's pushing $30 a day – $10k/year on dog food.
That's an incredibly niche market to be playing in. At that price point your competition is basically people who are happy to make their own dog food at home for about 1/4 of the price so your essentially the Marley Spoon of dog food – and look how that worked out. It could be a profitable small business, but raising $55m in Series B? Nonsensical. It's the sort of valuation you get when you pitch and idea to a bunch of VC people who have no idea how 99% of the population live.
MPA Price at posting:
9.5¢ Sentiment: Sell Disclosure: Not Held
