TORONTO, Nov. 12, 2020 /CNW/ – Canadian startup Kabo.co, appeared on CBC’s Season 15 Dragons’ Den to pitch their fresh dog food delivery startup. During their appearance, co-founders Vino and Vijay Jeyapalan struck a deal with Michele Romanow, venture capitalist and co-founder of Clearbanc which specializes in non-dilutive revenue-share agreements with start-ups.
Following a 9 month process with over 2000 auditions and delayed taping due to the pandemic outbreak, CBC’s Dragons’ Den selected Ontario-based startup Kabo to pitch their pet business to Canada’s top venture capitalists.
Latest Canadian pet population study found that up to 41% of households have at least one dog. However, since the pandemic shelters and breeders alike have emptied out with skyrocket demand for pandemic pets with waitlists as long as 18 months.
The expanding total addressable market gave Kabo the opportunity to grow over 568% in revenue year-over-year and scale out Canada wide distribution. A study conducted before the pandemic showed 91% of Canadian dog owners surveyed preferred purchasing pet food through traditional retail channels, including neighborhood pet stores and veterinary clinics. Now, Kabo reports a 55% increase in the number of dog-owning Baby Boomers choosing e-commerce or direct-to-consumer options, as well as 88% of Millennial dog owners.
“Dog owners are looking for a brand that they can depend on,” says Vino Jeyapalan CEO at Kabo, “with an increased demand for more product variety, we have introduced shelf-stable fresh dry dog food along with an increased recipe variety to meet customer demand.”
Watch as dog-obsessed co-founders pitch to a panel of Canadian business moguls who start a bidding war to get a bite out of Kabo: https://www.cbc.ca/dragonsden/pitches/kabo-fresh-dog-food
Find the show online at:
cbc.ca/dragonsden
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