Chowsing Pet Completes RMB 180 Million Series A and A+ Financing, the Largest Recent Investment in China's Pet Nutrition Sector

VCBeat (WeChat ID: vcbeat) has learned thatOn July 30, 2018, Shanghai Chongxing Pet Products Co., Ltd. (hereinafter referred to as “Chongxing”), a leading enterprise in the pet nutritional supplements industry, completed its Series A and Series A+ financing rounds within just three months, raising a total of RMB 180 million.. This is the largest investment case in this field recently.

The lead investor in the Series A round was Honghui Capital, which focuses on investments in the healthcare industry, while the lead investor in the Series A+ round was Ares Management LLC. The funds raised will be used for new product research and development, brand promotion, and the construction of production facilities.

Chongxing is a leading enterprise in China’s pet nutritional supplements industry, integrating R&D, production, sales, and services for pet food and pharmaceuticals. Its product portfolio spans multiple categories, including pet food, pet nutritional supplements, pet grooming products, pet cleaning supplies, and pet pharmaceuticals. The company currently owns the proprietary brand “Nourse” for pet nutritional supplements and the “Chongxing” brand for pet care products.

As social values evolve, pets have become indispensable family members in human life. According to incomplete statistics, the number of pets in China currently exceeds 100 million, and the pet industry, which provides services related to pets, has ushered in a period of rapid growth. Particularly at present, pet owners are placing increasing emphasis on pet health. They believe that throughout the more than ten years of companionship with their pets, physical and mental well-being is always the foundation, and pet nutritional supplements precisely cater to the most fundamental core needs of pet owners.

The establishment of Petcare was driven by the founder’s unwavering determination to transform the current state of China’s pet industry. Mr. Lü Shaohua, brand director of Nourse, has cultivated deep expertise in the pet sector over 15 years and possesses profound insights into pet consumption trends. In 2004, his fundamental motivation for founding Petcare was to ensure the healthy and joyful growth of pets by developing “the most scientifically comprehensive pet healthcare system,” thereby addressing pet health issues at their root.

To date, Chongxing Company’s subsidiary brand “Nourse” has successfully developed 21 categories of canine and feline nutritional products, providing services to nearly 20,000 physical stores and veterinary hospitals, with a cumulative service volume exceeding 300 million pet visits, thereby establishing itself as a leading brand in China’s pet nutrition industry.Chongxing Qiwang aims to fundamentally address the comprehensive lifestyle needs of pets by customizing nutritional and daily care plans, thereby providing a healthier lifestyle for pets in China and fostering better companionship between humans and their animal friends.

Concurrent with this financing round, Mr. Wu Jin, Partner at Honghui Capital and an investor in the Series A round, will join Chongxing Company’s Board of Directors. Previously, Mr. Wu worked alongside Mr. Wang Hui, Managing Partner at Honghui, for many years at CDH Investments (CDH Venture Partners), where he participated in or led multiple investment and post-investment management projects, including Kanghong Pharmaceutical, Poly Pharm, Angel Maternity Hospital, Kangning Hospital, New Vision Healthcare, New Century Children’s Hospital, and Jingyi Shares.

Mr. Wu Jin stated, “The pet industry has begun to take shape and is expected to maintain rapid growth in the future. As a specialized fund in the healthcare sector, Honghui Capital aims to secure the core competitive advantages in the pet nutrition industry through this collaboration with PetShine. Meanwhile, we are pleased to join forces with Ares Management, which brings extensive experience in the pet industry, to help PetShine expand into new areas, provide further resource support in sectors such as veterinary care, and promote synergistic development with other projects in Honghui’s portfolio. We firmly believe that PetShine will become one of Honghui’s flagship projects in this field.”

Regarding this financing round, Lv Shaohua also stated, “Chongxing highly values Honghui Capital’s expertise, forward-thinking vision, and resource advantages in the healthcare sector. As a key partner on our growth journey, Honghui Capital will help Chongxing’s team continuously enhance the ecosystem of its proprietary system. With a core focus on meeting pet needs, we aim to provide healthier lifestyles for pet-owning families in China and serve as guardians of pets’ lifelong health and happiness.”