Cypriot company invests in pet animal startup

Cyprus company Gain Venture Studios (GAIN) this week announced the increase of its participation in Cypriot startup 11Pets Ltd, resulting in the company becoming a majority shareholder in the firm.

GAIN, one of the initial investors of 11 Pets said that it believes in the company’s vision to become the leader in providing technology solutions for the better care and welfare of pets.

Through its increased participation, GAIN will further support the growth of the company with resources and know-how.

11 Pets, which GAIN described as a fast-growing company, brings together individuals such as pet owners and families, professionals of care and accommodation services, and social welfare organisations, such as animal shelters, providing them with safe and modern technology solutions for a vast range of pet care-related needs.

“11 Pets has grown organically over the past few years as there was a market gap and an increased need for better pet care,” GAIN co-founder Antonis Neocleous said.

“We decided to enhance our support in order to accelerate market penetration and to help the company reach its full potential”, he added.

Meanwhile, GAIN co-founder George Iacovou said that “as with our other projects, we want to share our know-how, experiences and expertise so that the final product meets the needs of users and also has a positive impact on society–something that I believe we see being achieved, but of course, the effort never seizes”.

GAIN focuses on sharing knowledge and experience, supporting several start-ups with expertise and financial resources.

At the same time, the company conceived and develops a number of ideas which it then adds to its idea bank.

“At a time when Cyprus is trying to develop its start-up ecosystem, GAIN has already contributed in practice to the support of several companies, in addition to 11pets, such as Serenity, SNAP, Jobalito and Logistaras,” the company concluded.