Technology

Losses rise at $1b start-up Pet Circle despite growing sales

Corporate filings reveal losses at the pet supplies business rose more than $5 million last year because of the costs of new warehouses, staff and products.

Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login Losses at Pet Circle, one of Australia’s biggest start-ups, rose to $26.4 million last year despite its sales almost reaching $400 million.

The online pet supplies business was one of several Australian start-ups that received a $1 billion valuation in 2021 after it raised $125 million from investors including AirTree Ventures and TDM Growth Partners. Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login Introducing your Newsfeed Follow the topics, people and companies that matter to you.

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