Whistle, the company behind the 'Fitbit for Dogs' tracking system, has just acquired Tagg, a similar pet wearable innovator, for an undisclosed amount announced Thursday.
Whistle also divulged a $15 million series B raise being led by Nokia Growth Partners. According to WSJ.com:
"Qualcomm, Melo7 Tech Partners, a fund co-founded by Carmelo Anthony and Stuart Goldfarb, as well as QueensBridge Venture Partners, co-founded by rapper Nasir ‘Nas’ Jones, also joined in the round. Existing investors, including Series A leader DCM and Slow Ventures, also participated. Whistle has raised $25 million to date."
The news is yet another example of a robust pet industry, and even more specifically, the rapidly growing trend in the wearable technology space for pets.
Like the FitBit and Jawbone trackers that humans wear as bracelets, Whistle and Tagg both manufacture dog activity monitors that attach to your pup's collar - with Whistle focusing more on the dog's activity and Tagg more on GPS location and tracking. According to company execs, this deal was penned in an effort to combine resources and to leverage each firm's unique strengths to make Whistle the hands down leader in the pet technology space.
While Whistle is now poised to have a strong lead on this market segment, competitors such as Voyce and Fitbark are also developing some pretty cool, similar dog wearables.
But our guess is, there are a few other companies working on some cool stuff too. (Ahem, SportLeash.)
But that's just a rumor...
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