It seems China's younger generation are put off having children and instead opting to devote their energy and care on their pets. And this trend is helping the pet industry gain the attention of the capital market.
Fullpet, a Shanghai-based pet food maker, said on Tuesday that it had completed its Series B fundraising of about $43.6 million.
Proceeds from this fundraising will be used to build a fully automated factory near Shanghai, in addition to building a pet food brand under its own name. Addor Capital, Shenzhen Capital Group and Jinding Capital were among those who joined the round of fundraising.
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