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153%
Raised
£767,990
Investors
156
Target
£500,000
Equity
23.50%
Pre-money valuation
£2,500,000

Launched in 2016, PitPat is an award-winning new entrant in the growing pet-tech sector. Described as a 'Fitbit' for dogs, the company is now in discussions with pet food and insurance companies about how PitPat can satisfy their demands for data and communication with their customers worldwide.

  • First product launched Jan 2016, retail distribution in UK, EU, NZ.
  • National press & TV coverage including Dragons’ Den & The Gadget Show.
  • Aiming for recurring revenue from large scale food/insurance partners.
  • Experienced team and private investor.
Information Pitpat has received a letter of advance assurance from the HMRC to confirm its eligibility for Enterprise Investment Scheme (EIS). The letter is available for download at the document section of the pitch.

Idea

PitPat is an ACTIVITY MONITOR for dogs, and a DATA PLATFORM for the pet care industry. A tiny sensor attached to a dog’s collar talks to a free app on the owner’s phone, forming the basis of a compelling way for owners to love and look after their dog’s health.

The product was launched in Europe in early 2016, winning best new dog accessory at the UK’s largest pet trade show. Over 3000 users have downloaded our app, and we have received positive responses on how easy it is to use, and how much they like what it does. With 9 million dogs in the UK (over half of them overweight), and 150 million dogs worldwide, this already represents a major market. But soon, our internet-based cloud service will join owners together as a community. Crucially, this will form the basis of an invaluable data, intelligence and communications proposition to partners in the pet industry, including food, insurance, pharmaceuticals and veterinary care.

Initial discussions with UK partners have confirmed their appetite for this proposition and we are continually developing opportunities with interested parties. This well-established industry is worth > $100b worldwide and is ripe for augmentation through technology. As a retail product, PitPat is already connecting dogs with their owners. Soon – through commercial partnerships – the PitPat platform aims to redefine how the pet care industry connects with its customers.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

PitPat has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.