Against the backdrop of the overall recovery of the investment and financing market, the hundreds-of-billions-scale "pet economy" has become a new blue ocean for capital competition. After two years of market downturn, the investment and financing market of the pet industry in 2025 has finally shown a clear growth trend.
01 Overview of Pet Industry Investment & Financing
Looking back at the end of the year, the 2025 pet venture capital market has emerged from the previous sluggishness, with the most obvious recovery on the investment side. Up to now, according to incomplete statistics, there have been 34 investment events in China's pet industry in 2025, a significant increase compared with 19 in 2024 and 24 in 2023. The total annual investment amount exceeded 700 million yuan, with an average single investment amount of over 20 million yuan.
Quantity Distribution: The 34 financing events throughout the year were relatively evenly distributed, with the number of monthly financing events fluctuating between 1 and 4.
Amount Distribution: Financing events in the 10-30 million yuan range were the most, totaling 19, accounting for over 55%; 10 small-sum financing events below 5 million yuan, accounting for over 29%; 3 large-sum financing events of 100 million yuan and above, accounting for 8.8%, all in the pet food sector.
Segmentation Fields: The pet pharmaceutical sector became the most active track with 12 financing events, while the pet food sector led the industry with a total financing amount of over 400 million yuan.
Financing Rounds: Early-stage investment accounted for nearly 60%, indicating that the industry is still in a period of rapid development, and the capital market remains optimistic about the long-term development prospects of the pet industry.
Regional Distribution: In addition to first-tier cities, there were 24 financing events in other cities, accounting for over 70%, far exceeding traditional first-tier cities. Shanghai ranked first among first-tier cities with 5 financing events, followed by Shenzhen (3) and Guangzhou (2). This trend shows that the entrepreneurial vitality of the pet industry is spreading from traditional first-tier cities to new first-tier and second-tier cities, with more balanced regional development and a "multi-point bloom" pattern.
02 Analysis of Pet Industry Segments
1. Pet Pharmaceuticals: Most Financing Events, Obvious Technology-Driven
There were 12 financing events in the pet pharmaceutical sector throughout the year, accounting for 35% of the total financing events, making it the most active segment in the 2025 pet industry. The total financing amount in this sector exceeded 150 million yuan, with an average single financing amount of over 12 million yuan. In terms of business types, financing in the pet pharmaceutical sector is mainly concentrated in innovative drug R&D, intelligent medical services, health solutions and other directions. Typical cases include Hanpei Bio, Xindong Bio, Xiaowen Technology, etc.
2. Pet Food: Highest Financing Amount, Increased Brand Concentration
The pet food sector ranked first among all segments with a total financing amount of over 400 million yuan, accounting for nearly 60% of the total industry financing. Although the 8 financing events were slightly less than that in the pet medical sector, the average single financing amount exceeded 50 million yuan, 2.5 times the industry average. This phenomenon reflects the capital market's high recognition of the pet food track. As a rigid demand category, pet food has a large and stable growing market scale. Consumers' demand for high-quality and functional pet food continues to rise, and product innovation is active, such as the rapid development of fresh food, functional food and other segments. In addition, leading brands have gradually formed, and scale effects have begun to appear. Typical cases include Zhongyu Pet, Shuaike Pet, Jiangliutong Pet Fresh Food, etc., all of which focus on the R&D and sales of high-quality pet food.
3. Pet Supplies: Advanced Technology Empowerment, Active Innovation Atmosphere
There were 7 financing events in the pet supplies sector throughout the year, with a total financing amount of over 95 million yuan and an average single financing amount of over 13 million yuan. Financing in this sector is mainly concentrated in smart wearable devices, automatic feeders, pet monitors and other product categories. Representative enterprises include PaaaWOW, which focuses on pet smart collar R&D, and uah Technology, a pet smart hardware provider. With the development of the Internet of Things and artificial intelligence technology, the functions of pet smart hardware products have been continuously enriched, extending from basic positioning and monitoring functions to high-end functions such as health monitoring and behavior analysis, becoming an important innovation direction of the pet industry.
4. Pet Services: Good Financing Capacity, Emerging Segmental Opportunities
There were 6 financing events in the pet service sector throughout the year, with a total financing amount of over 55 million yuan. Although the financing scale is relatively small, the average single financing amount is nearly 10 million yuan, showing that high-quality pet service enterprises still have certain financing capacity. Financing in this sector is mainly concentrated in digital services and comprehensive solutions. For example, Huaman Guangchi, which focuses on comprehensive pet travel solutions, obtained a ten-million-level angel round financing, reflecting that the pet service industry is transforming towards professionalism and digitalization.
5. Pet Breeding: Insufficient Market Attention, Great Future Potential
There was only 1 financing event in the pet breeding sector throughout the year. Ruishou Pet, a provider of pet full-life-cycle health management services, raised tens of millions of yuan. Although this sector is not popular, the single financing scale is not small, second only to the pet food sector, showing that pet breeding enterprises have strong financing capacity. With the increase in demand for high-end purebreds, emerging categories, experimental animals, etc., it is expected to burst into great potential in the future.
03 Analysis of Investment & Financing Characteristics
1. Financing Round Characteristics: Early-Stage Investment Dominates
The 2025 pet industry financing rounds showed obvious early-stage characteristics. Among them, there were 20 angel/seed round financing events, accounting for nearly 60% of the total. This indicates that the pet industry is still in a period of rapid development, with new entrants constantly increasing. The capital market is optimistic about the long-term development prospects of the pet industry and is willing to layout early-stage projects. New entrepreneurial opportunities continue to emerge in industry segments, especially in technological innovation and model innovation.
2. Investment Institution Characteristics: Coexistence of Professional Institutions and Industrial Capital
The investors in the 2025 pet industry showed diversified characteristics. Qinzhi Capital became one of the most active investment institutions with 2 investment events. Types of investment institutions mainly include professional venture capital institutions focusing on early-stage project investment, industrial capital laying out the pet industry chain through investment, and government guidance funds supporting the development of local pet industry. It is worth noting that about 20% of investment and financing events did not disclose investor information, which is common in early-stage financing, reflecting that some start-ups pay more attention to business development than brand exposure in the early stage of financing.
3. Investment Hotspot Characteristics: Upgrade from Single Products to Systematic Solutions
The 2025 pet industry investment hotspots showed an obvious upgrade trend, mainly reflected in the transformation from single products to systematic solutions. For example, pet medicine has upgraded from single drug R&D to comprehensive health solutions, and pet food has upgraded from single products to full-life-cycle nutrition management. The technology-driven feature has become more and more obvious. The application of cutting-edge technologies such as artificial intelligence, Internet of Things and biotechnology in the pet industry has been continuously deepened, becoming important investment hotspots. In addition, segmented scenarios are constantly enriched. In addition to traditional food and medical fields, emerging scenarios such as pet travel, pet insurance and pet digital services have begun to attract capital attention.
04 Thoughts on Pet Industry Development
1. Thoughts on Development Trends
Based on the 2025 pet industry investment and financing situation, it is expected that the industry will show the following development trends in the future:
In terms of segment specialization, core areas such as pet medicine and pet food will be further segmented, and the degree of specialization will continue to improve. For example, segments such as pet oncology drugs and pet senior food are expected to develop rapidly.
In terms of accelerated technological innovation, artificial intelligence, big data, biotechnology, etc. will be more widely used in the pet industry to promote product and service upgrades.
In terms of increased brand concentration, leading enterprises will accelerate expansion through financing, industry integration trends will gradually emerge, and brand concentration is expected to further increase.
In terms of service digital transformation, the pet service industry will accelerate digital transformation, and the online-offline integrated service model will become mainstream.
In terms of international layout, more enterprises with scale advantages will begin to explore international layout, and Chinese pet brands are expected to further enter the global market.
2. Thoughts on Investment Focus
Looking forward, the direction of pet industry investment and financing should focus on technology-driven enterprises, especially projects with core technologies in pet medicine and smart hardware; layout pet food segments with great growth potential, such as functional food and fresh food; pay attention to digital transformation opportunities in the pet service industry, especially projects with platform and scale potential; attach importance to team background, and give priority to investing in entrepreneurial teams with pet industry experience, technical background and operational capabilities.
3. Thoughts on Innovation and Entrepreneurship
Facing the increasingly competitive pet industry, innovation and entrepreneurship should focus on segmented markets, avoid homogeneous competition, and build differentiated competitive advantages. Focus on technological innovation and product R&D to enhance core competitiveness. Attach importance to data accumulation and digital operation to improve enterprise operation efficiency. Reasonably plan the financing rhythm and choose the appropriate financing round and investor according to the enterprise development stage. Pay attention to policy changes and industry standard formulation, and layout compliant development in advance.
In 2025, China's pet industry investment and financing market has warmed up and maintained steady development, showing strong industry vitality and investment value. The three major segments of pet medical care, pet food and pet supplies have their own characteristics, and early-stage investment dominates, reflecting that the industry is still in a period of rapid development. With the upgrading of residents' consumption and the increase in pet ownership rate, the pet industry market scale will continue to expand, and innovative opportunities in segments will continue to emerge. In the future, technological innovation, professional development and digital transformation will become the main development directions of the pet industry, and will also bring more investment opportunities to the capital market.
