LONDON — Iris Ventures, which has invested in businesses including Allyson Felix’s Saysh footwear brand and the Italian arts and crafts platform Artemest, is turning its attention to animal health and well-being with an investment into Mammaly, a leading pet supplement brand.
Iris, which specializes in purpose-led, consumer-centric brands and tech-based solutions, has co-led a 14-million-euro growth round alongside Five Seasons Ventures, a food tech fund, with participation from pet food and consumer specialist Attila Balogh.
An announcement is expected Wednesday.
Mammaly manufactures holistic, nutritional supplements for dogs, and offers a range of more than 20 products that aim to tackle day-to-day pet health issues including digestion, joint-care, mouth hygiene, skin care and relaxation.
The company said it will use the funds to further develop the brand and product, solidify its direct-to-consumer business, and “conquer the retail channel” as the leading omnichannel player in the European market.
Montse Suarez, founder and managing partner of Iris Ventures, said Iris invested because “we are seeing preventative health at the forefront of consumers’ mindset and a shift in the market with respect to attitudes towards pet ownership and pet care.”
She described Mammaly, which launched less than three years ago, as a first mover in the pet supplements space “combining a modern look and feel, an innovative product portfolio and a relevant content strategy.”
Stanislav Nazarenus, who cofounded Mammaly with Alexander Thelen, argued that pets are often fed “mass-market one-size-fits-all products” despite the fact that they have individual health and nutritional needs.
He said that Mammaly works with “in-house vets, nutrition experts and leading veterinarians” to create tasty, chewable supplements packed with functional ingredients.
Thelen added: “Unlike in North America, where supplements for dogs are mainstream, in Europe this segment is completely underdeveloped. By launching Mammaly, we have taken on the challenge of building the pet supplement market across the continent.”
Over the past two years Iris Ventures has invested in community-based lifestyle businesses such as Saysh and Artemest, a curated platform that sells homeware made by Italian artisans.
In April, Iris teamed with soccer stars Lionel Messi and Antoine Griezmann on a multimillion-euro investment in Vicio, a top food-delivery start-up based in Spain that sells premium burgers online, and through its own physical locations.