Indonesia-based pet-food manufacturer Pawprints Group has secured more funding for the company’s seed round as it aims to more than double sales next year.
The additional funding, led by Asia Fund X (AFX), a fund supported by MSW Ventures and anchored by Pavilion Capital, follows a $1.7m seed round in November 2023.
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Pawprints Group owns insect-based pet-food brand Pawprints, as well as Japanese pet-food maker Heka, which it acquired last September.
According to founder Jacqueline Sulistyo, the company is targeting “2.5 times sales value growth” in 2025 versus 2024. She declined to comment on Pawprints Group’s annual sales and on the amount the company had raised in the extension of its seed round.
Sulistyo told Just Food: “This year, we are looking to build a larger complete portfolio for the Pawprints brand, which is right now based in Indonesia and using black soldier fly insect protein.
“And then as well, considering our Japanese brand called Heka has been established for quite some number of years, we’re really looking to expand to other markets for that front.”
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By GlobalDataHeka pet food, made from conventional meat, is available in Japan, Taiwan and India and the company is looking to expand the brand further across Asia-Pacific.
Pawprints Group, which was set up in June 2023, has listed Indonesia as a “key growth market” for the Pawprints brand.
Sulistyo noted: “I will say there has been a real shift in how the population views animals and pet ownership and pet parenting. From personal experience, I grew up with pets, but this was not the norm and it was not as widely accepted considering it is a predominantly Muslim population. Having dogs in the past wasn’t necessarily tolerated. Where you see today, there is a lot more acceptance.
“However, I will say that, still, the population of pets is dominated by cats, fish and birds versus dogs. It’s still on the lower end. But larger cities such as Jakarta, Surabaya and Bali, they do have a larger population of dogs versus the rest of the country.”
Heka’s Japanese market is also important for Pawprint Group’s upcoming growth strategy, Sulistyo added, as “Japan is the largest APAC pet market, larger than even Australia, New Zealand and so on”.
She said: “[In Japan] they have a different perception of pet ownership. In Indonesia, it is still a wide range but, in Japan, it’s very much towards pets are definitely our children and part of the family.”
The group has 20 employees between Indonesia and Japan. The Pawprints brand is manufactured in Indonesia while Heka is made in the Netherlands.
