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  <ul>
    <li>
      <p>
        Rex, an on-site veterinary practice and on-demand veterinary telehealth services provider, raised EUR 5 million (~USD 5.1 million) in a seed funding round led by Vorwerk Ventures with participation from existing investor Picus Capital, Calm/Storm, and a group of angel investors.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The company intends to use the funds to further develop its practice management software and for marketing campaigns.&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.eu-startups.com/2022/07/berlin-based-rex-fetches-e5-million-to-digitise-vet-care-for-a-new-generation-of-pet-owners/">
      EU-Startups
    </a>
  </p>
  <p>
    <a href="https://tech.eu/2022/07/18/rex-raises-eur5-million-to-build-chain-of-modern-veterinary-practices-in-germany/">
      Tech.eu
    </a>
  </p>
</div>


Pet Care Tech

Germany-based Rex raises EUR 5 million in seed funding

ANALYST_QUICK_TAKE

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<div>
 
 <p>ManyPets, a pet insurance provider from the UK, is leaving the US market to focus on its UK operations. It has partnered with Odie Pet Insurance to continue coverage for its US customers whose policies renew on January 1, 2025.</p>
 <p>From November 1, 2024, ManyPets customers will receive renewal offers from Odie Pet Insurance, subject to underwriting approval.&nbsp;</p>
 <p>ManyPets entered the US market in March 2021, earning around USD 21.5 million in premiums in 2023. Even though the US market was a priority for ManyPets, the company encountered operational issues, such as high customer acquisition costs and low retention rates. It had previously purchased a licensed carrier from Munich Re in 2022 to write its policies but is now planning to sell the carrier as part of its exit plan.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> ManyPets' exit from the US market follows a similar pattern to its <a href="https:<br>
//sp-edge.com/updates/18904"> withdrawal from Sweden in May 2023 </a> . In both cases, the company ensured a smooth transition for existing customers by partnering with local insurers Odie Pet Insurance in the US and Hedvig in Sweden to maintain coverage continuity.</p>

ManyPets exits US market; transitions customers to Odie

<div>
 <p>Petsy, a Polish company, has raised EUR 1.1 million (~USD 1.2 million) in funding from more than 30 business angels. Among the investors is Piotr Wawrysiuk, the founder of PsiBufet. This funding will be utilized to strengthen Petsy's presence in the Polish market, enhance its platform, and make preparations for international market expansion. Petsy's main focus for expansion is the DACH region.</p>
</div>

Petsy raises EUR 1.1 million in funding to expand services globally

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<div>
 <p>Trupanion has introduced its Signature pet insurance product in Germany and Switzerland. This insurance offers lifetime coverage for pets, including all eligible unforeseen accidents and illnesses—congenital and hereditary. There are no restrictions or stipulations based on breed or age.</p>
</div>

Trupanion launches pet Insurance products to increase presence in Europe

<div>
 
<p>Companion Protect, a pet insurance and wellness program provider, garnered approximately USD 20.3 million in a Series A extension funding round. Avanta Ventures, Liberty Mutual Insurance, Old Republic International Corporation, and Stray Dog Enterprises were the investors in the round which led the total funds raised by the company to amount to roughly USD 47.3 million.</p>

<p>The funds will be employed towards the expansion of products and partners, as well as driving digital innovation to elevate the customer experience.</p>

<p>The company has initiated pet insurance schemes for insurers such as Liberty Mutual, Safeco, and CSAA Insurance Group. Additionally, it has signed up with five more insurers to launch a novel pet insurance plan in the forthcoming months.</p>

<p><b>AnalystQuickTake: </b> The <a href="https://sp-edge.com/updates/21351"> Series A funding </a> round was first announced in August 2023. The company utilized the raised amount of USD 27 million towards the expansion of its product range and partner network along with upgrading its digital claims processing capabilities.</p>
 
</div>

Companion Protect raises ~USD 20.3 million in Series A extension to fuel expansion

<div>
 
 <p>Odie, a pet insurance provider, has joined hands with Insuritas, a provider of embedded insurance for financial institutions. The collaboration merges Odie's pet insurance offerings into Insuritas' BUNDLE platform. This integration will enable clients of financial institutions to avail tailor-made pet insurance coverage.</p>
 <p>The primary aim of this partnership is to create a fresh source of income for financial institutions while providing pet owners with access to cost-effective insurance solutions. This addresses the problem of low pet insurance adoption rate in the United States along with the issue of mounting veterinary expenses.</p>
 
</div>

Odie Pet Insurance partners with Insuritas to offer pet coverage through financial institutions

<div>
 <p>FirstVet, a digital veterinary service, has successfully secured EUR 20 million (USD 21.4 million) in a Series C funding round. The round was led by TELUS Global Ventures. The funds will be utilised to support FirstVet's expansion into the North American markets. Additionally, it will also accelerate the development of the company's product, while exploring new partnership opportunities.</p>
</div>

FirstVet raises EUR 20 million in Series C funding for North American expansion

<div>

<p>Wag!, a company providing on-demand pet care services, has launched a new insurance comparison platform named "WeCompare.com." </p>
<p>This platform is designed to offer a comparative analysis of various insurance types, initially focusing on auto insurance. There are plans for expansion into home, travel, and life insurance in the future.</p>
<p>Moreover, it will also offer educational and data-focused content to help users make informed insurance decisions.</p>

</div>

Wag! Introduces WeCompare.com, an insurance comparison site

<div>
 <p>Wag! introduces "Furscription", a solution intended to improve pet care management. This includes the facilitation of scheduling, communication, and coordination activities between pet owners and service suppliers.</p>
 
</div>

Wag! launches Furscription software solution for pet care management

<div>
 <p>Trupanion has launched a new pet health data program named "truInsights." This program aims to offer pet owners and veterinarians with complete insights into pet health and wellness. It makes use of data from Trupanion's large pet insurance database to deliver essential insights and trends. These insights aid in making better decisions regarding pet care and treatment plans.</p>
 
</div>

Trupanion launches 'truInsights,' a pet health data initiative

<div>
<p>Chubb is set to acquire pet insurance provider Healthy Paws from Aon plc. The acquisition price remains undisclosed. Healthy Paws, established in 2009, provides pet insurance and claims management to over half a million dogs and cats in the US. Chubb aims to use Healthy Paws' well-established brand and large customer base to expand in the pet insurance market.</p>
</div>

All Updates

Germany-based Rex raises EUR 5 million in seed funding

ManyPets exits US market; transitions customers to Odie

Petsy raises EUR 1.1 million in funding to expand services globally

Trupanion launches pet Insurance products to increase presence in Europe

Companion Protect raises ~USD 20.3 million in Series A extension to fuel expansion

Odie Pet Insurance partners with Insuritas to offer pet coverage through financial institutions

FirstVet raises EUR 20 million in Series C funding for North American expansion

Wag! Introduces WeCompare.com, an insurance comparison site

Wag! launches Furscription software solution for pet care management

Trupanion launches 'truInsights,' a pet health data initiative

Chubb to acquire Healthy Paws to expand reach in pet insurance market

Pet Care Tech

Germany-based Rex raises EUR 5 million in seed funding

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