- Investment sought:
- Equity offered:
Digital technology is disrupting pet care in line with other industries. Felcana is building the future of intelligent pet care. We help owners look after their pet’s health and provide vets with the data they need. Our products and services connect owners with their pets through state-of-the-art wearables and AI-based telehealth. With Felcana, users can gain on-demand online veterinary advice and critical insights into their pet’s health and well-being. We aim to be the go-to source for credible veterinary advice.
Thanks to an overfunded Seedrs campaign in 2018, we have delivered on our objectives, launched Felcana Go and are now entering our next phase - COMMERCIALISATION.
Backed by venture capital investors, Innovate UK and leading vets. Our world-class team of veterinarians and engineers have designed Felcana to be the best for owners, pets and their vets.
Felcana’s vet founders are building a leading pet care company that uses digital technology to pioneer a new generation of care.
Euromonitor estimates the global population of pet dogs and cats at 630M+ supporting a market worth over $130 billion in 2016. The pet care market is predicted to grow at 5% CAGR until 2025, driven by willingness to spend on pets and growing pet ownership.
Connecting information between pets, owners and vets enables a step-change in how we predict, simplify, and treat pet health problems. Felcana’s products and services provide convenience and value to:
• PET OWNERS: 24-hour monitoring, convenient telemedicine consultations and reduced treatment costs through earlier detection of health problems.
• VETS: data to support diagnosis and monitor treatment. Telemedicine enables vets to work more efficiently by prioritising their caseload while also providing a convenient emergency out-of-hours service.
• PET CARE COMPANIES: direct marketing through a deeper understanding of their client base and differentiation from competitors.
• PET INSURERS: help policy pricing and monitor claims.
Substantial accomplishments to date
SALES TRACTION & DISTRIBUTION.
Currently, we have users in 35 countries. Our userbase is growing quickly, this month sales on felcana.com grew 139%. New users will be won through the expansion of our Strategic Partnerships and existing B2C network.
Our Strategic Partnership with Simplyhealth is going from strength-to-strength; through this Partnership we plan to have a national presence across veterinary clinics by the end of 2019. Further partnerships with leading pet insurers are expected to launch later in 2019. Advanced discussions are ongoing with a large group of UK veterinary clinics and multiple international distributors.
PRODUCT INNOVATION & IP.
Over the past two years, we have been busy perfecting our first product, Felcana Go, which launched to rave reviews.
To support our products and services, Felcana’s sophisticated cloud-based software analytics platform is up and running. Our supply chain is built and tooling is complete. Two patents are filed: one for our overall system and beacon technology; and one for a range-extending antenna technology.
In 2018, we launched a four-year research collaboration with the Royal Veterinary College, ranked as the world’s number one veterinary school, who support Felcana with data collection and analysis.
Built an expert team with broad capabilities, ranging from product design to public relations. Our team have previously worked at companies such as Bain & Company, Accenture and Dyson.
We are commercialising our products and services through B2B and B2C channels:
• B2B sales through pet health plan providers, pet insurers, veterinary clinics and pharmaceutical companies.
• B2C channels such as our own website and 3rd party retailers.
Currently, we make money selling Felcana Go. We will be introducing a subscription model later in 2019 to provide a recurring revenue stream. Other future high-margin revenue streams include direct marketing to our user-base, commissions and licencing of our IP.
Our launch product, Felcana Go, has a RRP of £69.99. Our expertise in procurement and supply chain enables us to maintain a gross margin over 50% at low production volumes. Our on-demand veterinary advice services, due to launch later in 2019, will be provided via a freemium subscription model.
We plan to expand internationally using distribution and licence agreements. We are in discussions with large distributors in multiple countries.
Use of proceeds
We are executing this funding round to continue scaling up business operations while also investing in new product development. Use of proceeds is detailed below.
MARKETING AND SALES:
• Grow customer reach and brand awareness through increased marketing expenditure.
• Launch additional pilots with pet insurance companies and other industry players.
• Expand our consumer reach through additional retailer presence in select national retailers and internal direct to consumer sales campaigns through Felcana.com.
• Scale our commercial and marketing team.
• Attend trade events such as the London Vet Show in November.
NEW PRODUCT DEVELOPMENT:
• Launch our new on-demand veterinary service in 2019.
• Expand the health insights our data science team can generate.
• Grow our research collaborations with the Royal Veterinary College.
• Build up larger production runs to support product demand and increase efficiencies of scale.
This will pave the way for Felcana’s continued commercialisation.