What are the funding trends in pet tech right now?

All funding deals in the Pet Tech market over the last years

Below is the table listing all the deals. You can find our methodology at the end of this page.

If you want a deeper understanding of the market and its current dynamics, get our report covering the Pet Tech Market.

Pet Tech funding: what is actually changing in 2026?

Is Pet Tech funding really collapsing right now?

Pet Tech funding is having a very weak year in dollars, even though startups are still getting financed at a fairly normal pace.

We found 11 qualifying financings so far in 2026, compared with 14 over the same period in 2025 and nine in 2024. Deal volume is down 21% from last year, but it is still 22% above the equivalent point in 2024.

The drop in capital is much harder to miss. We can reliably quantify $12.46 million of funding this year, versus $77.88 million in 2025 YTD and $57.09 million in 2024 YTD. The median disclosed round has also fallen to $1.65 million from $3.45 million last year.

There is one caveat worth keeping in mind. Five of the 11 deals this year do not have amounts precise enough to include in our capital calculations, so $12.46 million is a minimum rather than the complete amount raised.

Even with that limitation, the direction is clear. None of those undisclosed deals has been reported as a $20 million-plus financing, while rounds of that size were a major part of the market in both prior periods.

Pet Tech still has founders getting checks. What has largely disappeared for now is bigger venture capital.

Metric	2026 YTD	2025 YTD	2024 YTD	2026 vs 2025
Deals	11	14	9	-21.4%
Unique companies	11	14	8	-21.4%
Reliable observed capital	$12.46M	$77.88M	$57.09M	-84.0%
Median round	$1.65M	$3.45M	$3.90M	-52.2%
Average round	$2.08M	$7.08M	$8.16M	-70.7%
Largest reliable round	$5.0M	$21.0M	$24.0M	-76.2%
First-financing share	63.6%	28.6%	11.1%	+35.0 pp
Early-stage share among known stages	100%	81.8%	66.7%	+18.2 pp

Are fewer Pet Tech startups actually getting funded?

Pet Tech is funding fewer companies than last year, but the number of startups raising money is still higher than it was two years ago.

We counted 11 funded companies this year. There were 14 at the same point in 2025 and eight in 2024.

That puts the current slowdown into perspective. The market has lost three funded companies versus last year, while measurable capital has fallen by roughly $65 million. Those are very different orders of magnitude.

All 11 deals in 2026 also went to different companies. The list includes Wonderdog, Hoomanely, Travv, PettiChat, Petwealth, Elita and several Asian connected-device or veterinary-AI startups.

So far, we are seeing less money spread across a reasonably broad group of companies rather than capital disappearing because nobody wants to fund Pet Tech anymore.

Why is Pet Tech raising so much less money this year?

Pet Tech is raising much less money because the $20 million-plus financing layer has vanished.

In 2025 YTD, two financings between $20 million and $50 million generated about 53% of all the reliable capital we tracked. In 2024 YTD, two rounds in that bracket generated almost 80%.

There is no equivalent deal in 2026.

Koala Health raised a $20 million Series B last year. Vetr announced $21 million. Going back to 2024, MoeGo raised $24 million and FirstVet closed a €20 million Series C, worth roughly $21.5 million in our calculations.

The largest reliable round today is Wonderdog's $5 million Seed financing. Hoomanely raised $1.8 million, Petwealth $1.7 million, Travv $1.6 million, Elita around $1.36 million and PettiChat $1 million.

There is no megaround distortion hiding underneath this. We found no $50 million-plus round in any of the three comparable periods, so removing deals above $50 million or $100 million leaves the comparison unchanged.

The hole in Pet Tech funding sits much closer to $20 million than $200 million.

Deal size	2026 deals	2026 capital share	2025 deals	2025 capital share
Under $5M	5	59.9%	7	16.0%
$5M–<$20M	1	40.1%	2	31.3%
$20M–<$50M	0	0%	2	52.6%
$50M–<$100M	0	0%	0	0%
$100M+	0	0%	0	0%
Amount unavailable after audit	5	—	3	—
Largest reliable round	$5.0M	—	$21.0M	—
Median reliable round	$1.65M	—	$3.45M	—

Are normal Pet Tech rounds getting smaller too?

Yes, normal Pet Tech rounds are clearly smaller this year, so the funding drop goes well beyond the missing $20 million deals.

The median reliable financing is now $1.65 million. It was $3.45 million last year and $3.90 million in 2024.

That is useful because the median is much harder for one unusually large transaction to distort. A roughly 52% year-over-year decline means smaller checks are showing up across the middle of the dataset too.

The 2026 deals make that visible. PettiChat raised $1 million. Elita raised about $1.36 million. Travv raised $1.6 million. Petwealth raised $1.7 million. Hoomanely raised $1.8 million.

Even Wonderdog's $5 million Seed round, the biggest reliable financing we have this year, would have looked fairly ordinary beside some of the deals from 2024 and 2025.

Pet Tech currently has fewer large rounds and a much lower midpoint at the same time. That makes the slowdown much more convincing than the headline capital figure on its own.

Has Pet Tech suddenly become an early-stage market?

Pet Tech funding has moved heavily toward Seed and Series A this year.

Every 2026 financing with a known conventional stage is either Seed or Series A. There is no Series B or Series C in the current sample.

Last year looked very different. Series B rounds accounted for close to 40% of reliable capital in the comparable period, helped by companies such as Koala Health and Airvet. In 2024, FirstVet added a large Series C while MoeGo raised its $24 million Series A.

The 2026 company list sits much earlier in the cycle. Travv raised a $1.6 million Seed round to expand its veterinary diagnostic platform and onboard hospitals. Wonderdog raised $5 million at Seed. Hoomanely is developing its connected feeding system and gathering data for larger veterinary studies. PettiChat only emerged this year.

Company age points the same way. The median funded company was around five years old in 2024, 3.5 years old last year and only two years old now.

For the moment, Pet Tech investors are spending much more of their time financing companies that are still proving what they can become.

Are investors finding new Pet Tech startups or just backing the same companies again?

New Pet Tech startups are getting a much larger share of investor attention this year.

Seven of the 11 financings we classified in 2026 are first financings, giving them 63.6% of deal activity. The equivalent shares were 28.6% last year and only 11.1% in 2024.

The company names make the shift easy to see. Wonderdog, Travv, Petwealth and PettiChat are among the businesses appearing with a first financing in our research. MOVA AI Pets and Shenzhen Vetoo Medical Technology also entered the funded-company pool.

Earlier periods leaned far more heavily on follow-ons. Those included companies such as MoeGo, FirstVet, Airvet, Koala Health, VetVerifi and Goose, which had already raised money or established more developed operations.

Our first-financing classification comes from a separate review of each company's publicly identifiable funding history, so it should be read as directional rather than as a perfect reconstruction of every transaction ever completed.

The gap is still large enough to matter. Pet Tech is currently creating a fresh group of venture-backed companies faster than it is financing another round for the previous group.

Financing profile	2026	2025	2024
First financings	7	4	1
First-financing share	63.6%	28.6%	11.1%
Reliable first-financing capital	$11.10M	$22.00M	$1.50M
Median first financing	$1.70M	$0.60M*	$1.50M
Follow-ons	4	10	8
Follow-on share	36.4%	71.4%	88.9%
Reliable follow-on capital	$1.36M	$55.88M	$55.59M
Median follow-on	$1.36M*	$3.72M	$4.16M

*Particularly incomplete amount sample.

Is veterinary telehealth losing Pet Tech investor attention?

Veterinary telehealth has lost a lot of funding visibility in 2026, although the businesses themselves have certainly not disappeared.

Tele Vet Platforms accounted for three deals and roughly 41% of reliable capital in 2025 YTD. We have no qualifying Tele Vet financing so far this year.

That removes exactly the sort of companies that previously produced larger tickets. Airvet raised an $11 million Series B-2 last year after reporting more than fourfold year-over-year growth in enterprise annual recurring revenue. Vetr announced $21 million. FirstVet had already raised €20 million in 2024.

Recent company activity shows why the distinction matters. Airvet has continued expanding its service internationally in 2026, including into Brazil, Ireland and Germany, and has also announced a Workday wellness partnership. The lack of a new telehealth financing this year says much more about where venture rounds are landing than about whether telehealth has stopped developing commercially.

Funding attention has moved elsewhere for now, particularly toward diagnostic software, preventive health, connected hardware and AI built around animal data.

Is AI becoming the main new Pet Tech funding theme?

AI has become one of the clearest themes in new Pet Tech financings, especially when it is tied to veterinary data rather than sold as a generic chatbot layer.

Travv is a good example. The company raised $1.6 million for an AI-native veterinary diagnostic platform initially focused on radiology workflows. It has kept building since the financing and recently released an integration that lets veterinary organizations query diagnostic data through AI tools using the Model Context Protocol.

PettiChat is taking a different approach with multimodal models designed around pet vocalizations and behavior. SATELLAI combines AI with wearables, GPS tracking and health monitoring. Qlalgorithm combines multimodal models, clinical software and hardware and said it was already serving more than 200 veterinary hospitals.

Hoomanely goes even further into proprietary data collection. Its EverBowl measures how dogs eat and drink, including consumption, speed, chewing and swallowing sounds and other signals. During its development work, the company said it collected around five million data points across more than 80 dogs.

These companies differ substantially, but they are converging on the same valuable asset: longitudinal animal data that can feed diagnostic, behavioral or preventive-health models.

The funding is still early. We do not yet have a new Pet Tech AI company raising a $20 million Series B on the back of proven scale.

Are connected pet devices actually taking over from software?

Connected pet devices are showing up far more often in 2026, although the capital behind them remains small or poorly disclosed.

Smart Pet Devices account for three current deals after producing none in the comparable 2025 period. Connected Pet Feeders added another financing through Hoomanely, while SATELLAI and Moggie sit in Pet Health Wearables.

The products are also becoming more sophisticated than the older idea of a connected feeder or GPS collar. MOVA AI Pets is combining smart litter boxes, feeders and trackers with a pet-data platform. Shenzhen Vetoo Medical Technology builds pet-specific imaging equipment alongside AI diagnostic software. Hoomanely uses physical sensors mainly as a way to create health data.

Software and hardware are starting to blur together.

What we have not seen yet is a similar jump in capital. Only one of the three current Smart Pet Device deals has an amount precise enough to use in our calculations, and that is PettiChat's $1 million financing.

Connected hardware is one of the fastest-growing areas by deal count, but it is still a very early venture story financially.

Why are so many new Pet Tech startups focused on preventive health?

Preventive pet health is attracting founders because continuous data can potentially reveal problems long before an occasional veterinary visit does.

Wonderdog combines at-home blood testing with an AI-powered longitudinal health record. Elita brings together biological data, medical history, owner observations and testing. Petwealth is building around at-home PCR diagnostics.

Hoomanely tries to capture even more routine information by monitoring eating and drinking. The company argues that changes in those habits can surface health problems that dogs otherwise hide.

Wearables such as SATELLAI and Moggie follow the same broad idea through movement and activity data.

There is a business logic here too. A device, diagnostic service or health platform that keeps collecting data can stay involved with the customer for much longer than a one-off digital consultation.

We should still separate that potential from proven clinical performance. Hoomanely, for instance, has said it does not yet have independent sensitivity, specificity or false-positive rates for clinical events and is planning larger veterinary studies.

Preventive health is currently one of Pet Tech's strongest product directions. We still do not really know which of these approaches will work well enough at scale to support much larger venture rounds.

Is China becoming the center of Pet Tech funding?

China is becoming a much bigger source of Pet Tech deals, while North America still holds most of the capital we can measure.

Asia-Pacific now represents six of the 11 financings we found, or 54.5% of current activity. Its comparable share was 28.6% last year and 22.2% in 2024.

China drives most of that increase. SATELLAI raised another round for its AI-connected pet wearables. PettiChat raised $1 million. MOVA AI Pets raised a Series A. Shenzhen Vetoo Medical Technology secured financing for veterinary imaging hardware and AI. Qlalgorithm also raised money around its pet-health AI platform.

North America has only four deals but 81% of reliable capital. Wonderdog's $5 million financing alone is larger than any precisely disclosed Asia-Pacific deal in the current sample.

Disclosure complicates the comparison because four of the six Asia-Pacific rounds have no exact amount we trust enough to calculate.

Still, the shift in deal formation is hard to dismiss. Asia is currently producing a much larger share of the Pet Tech companies attracting investors, particularly around AI and hardware.

Geography	2026 deals	2026 deal share	Reliable capital share	2025 deal share
Asia-Pacific	6	54.5%	18.9%	28.6%
North America	4	36.4%	81.1%	50.0%
Europe	1	9.1%	~0% reliable	21.4%
Middle East	0	0%	0%	0%
Asia-Pacific rounds with reliable amount	2 of 6	33.3% coverage	—	—
North American rounds with reliable amount	4 of 4	100% coverage	—	—
Reliable North American median	$1.75M	—	—	~$12.2M
Largest reliable North American round	$5.0M	—	—	$21.0M

Have the Pet Tech investors changed too?

The visible Pet Tech investor roster has changed almost completely this year.

We identified a lead or co-lead in around 64% of current deals, virtually the same proportion as last year. The difference is in the names.

The 2026 group includes Boost VC, Gandel Invest, Skyworks Venture Capital, Predictive Venture Partners, SenseTime Guoxiang Capital, BIOCHING Ventures, Digitalis Ventures, WndrCo and Maveron.

The comparable 2025 list included HighlandX, Valspring Capital, B Capital, Female Founders Fund, 01VC and Las Olas Venture Capital, among others.

None of the identified 2026 lead or co-lead investors appears as a lead in our comparable 2025 group, and no investor leads more than one deal within either period.

With samples this small, we would not interpret that as nine investors entering while nine others permanently leave. But it does show how fragmented Pet Tech funding still is: there is no small group of firms repeatedly controlling most of the new rounds.

Strategic capital looks quiet too. We identified two strategically backed deals in the comparable 2024 period and none in 2025 or 2026. The sample is much too thin to call that a corporate retreat, but there is no visible wave of corporate money supporting the new cohort yet.

Could Pet Tech funding simply catch up later this year?

Pet Tech could still produce a large financing later in the year, but calendar timing alone does not explain the current gap.

The market has already completed 11 deals. That is 79% of the 14 financings we found across all of 2024 and 55% of the 20 deals recorded in full-year 2025.

Capital has progressed much more slowly. The $12.46 million we can quantify is equivalent to roughly 17% of reliable full-year 2024 capital and less than 10% of 2025.

We should not annualize venture funding mechanically because one large transaction can change a small market very quickly.

Still, deal activity is much closer to recent full-year levels than capital is. Catching up financially would require the final part of the year to produce the sort of $20 million-plus financing that has been missing so far.

For now, that larger financing layer remains the missing piece.

Is Pet Tech funding becoming harder once startups need to scale?

Scaling looks like the main funding bottleneck in Pet Tech right now.

Seed money is still moving. First financings are unusually common. Young companies are appearing in AI diagnostics, wearables, preventive health and connected devices.

The problem starts when companies need materially larger checks.

We have no Series B or Series C deal this year, no reliable $10 million-plus financing and no transaction in the $20 million-to-$50 million bracket. Follow-on financings have also fallen from 10 deals last year to four.

That is a very different market from one in which early-stage founders cannot raise anything at all.

A founder with a new Pet Tech idea can still find capital today. The harder question is what happens after the first few million dollars, once the business needs to prove clinical value, build distribution, manufacture hardware or sell into veterinary organizations at scale.

What would make Pet Tech funding pick up again?

Pet Tech funding will probably need several of today's young companies to prove real adoption before $15 million-to-$30 million rounds return.

Last year's bigger rounds give us a useful benchmark.

Airvet raised $11 million after reporting more than fourfold annual growth in enterprise ARR. Koala Health raised $20 million while expanding a prescription platform available across the United States and integrated with veterinary practices. FirstVet's earlier €20 million Series C was designed to finance further international growth.

Today's cohort is much earlier.

Travv's Seed capital is funding product expansion and hospital onboarding. Hoomanely is still running larger validation work around its monitoring system. Wonderdog only launched its current financing cycle this year.

For AI and diagnostics companies, larger rounds will probably require convincing clinical evidence alongside adoption. Hardware businesses need installed devices, repeat usage and economics that survive manufacturing. Veterinary software needs hospitals actually using the product enough to create durable recurring revenue.

The next big Pet Tech funding story will be more interesting if it comes from a current Seed company graduating into a substantial Series A or B than from another $1 million launch round.

What is actually changing in Pet Tech funding?

Pet Tech is currently much weaker in capital than in startup activity. Deals are only modestly below last year, while the money attached to those deals has fallen dramatically.

The biggest missing piece is the $20 million-plus round. Previous periods had companies such as MoeGo, FirstVet, Koala Health and Vetr operating in that bracket. Nothing comparable has appeared this year.

At the same time, the market has become younger. First financings now represent almost two-thirds of deals, company age has fallen sharply and the known 2026 stages stop at Series A.

Investor attention is moving too. Tele-vet companies supplied some of the larger rounds in earlier years, whereas today's new cohort is concentrated around veterinary AI, diagnostics, preventive health, wearables and sensor-based products. Asia-Pacific, and China in particular, is contributing far more of the deal count as part of that shift.

The part worth watching most carefully now is what happens after Seed. Pet Tech does not currently have a shortage of new ideas or newly funded companies. It has a shortage of businesses reaching the stage where investors are prepared to write $20 million checks again.