Taking a bite out of the pet food market: True invests in Shameless Pets
The Chicago-based brand formulates dog treats using upcycled ingredients – such as apple pulp from juice manufacturing, or lobster meat and shells from lobster processors – by working with farmers and other food processors to use leftover nutrient-rich ingredients that would otherwise be wasted and taken to landfill. In the UK some 10 million tonnes of food and drink is being wasted each year and, in the US, the problem is even greater. By utilising some of the 63 million tonnes of food waste ending up in US landfill alone each year, Shameless Pets is taking the lead on tackling the global issue of food waste.
Co-founders James Bello and Alex Waite have already established their brand as a leader in the sustainable pet food market following their selection as a finalist in the Nestle-Purina PetCare Innovation Prize earlier this year, along with participating in the Leap Venture Studio cohort run by Mars Petcare.
Oksana Stowe, True’s Early Stage Investment Principal says: “At True we look to invest in consumer and retail businesses that are fit-for-the-future. With an increased prevalence in the number of health-conscious pet owners and the growing trend for consumers focusing more on the ethical credentials of the products they buy – we were very interested in working with Shameless Pets. We strongly believe James and his team have identified a unique opportunity in the pet food market and we’re really pleased they have selected True as the investor that can help support them on their journey.”
James Bello, Shameless Pet’s CEO and Co-founder says: “As a former corporate food buyer for a global retailer, I saw first-hand the vast amount of food that goes unused in stores each week. With global food waste also accounting for 8% of greenhouse gas emissions, it seemed a natural step to consider a way to help tackle this problem. Combining this with our love of our pets, it became our mission to not just improve the diets and welfare of the pets we shamelessly care for but also improve the environment which we all share, through upcycling and reducing food waste. We are looking forward to working with True’s expert team of investors as well as getting to know True’s wider network of retail and consumer stakeholders, across the globe, to help support us on our growth trajectory.”
Launched in 2018, Shameless Pets currently stocks four flavours of dog treats, alongside a seasonal treat that changes each month for its subscribers. Find out more about the Shameless Pets range here: https://shamelesspets.com/products/shameless-seasonal-savor-club