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Technology

Tech Startup Petrics Raises Over $650,000

By Addison Lalier, posted Oct 27, 2017

Petrics Inc., a Wilmington-based pet technology startup, raised over $650,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.

Petrics is a pet health company that develops digital products and software that allows owners to manage, track and respond to their pets’ health needs.

The Petrics mobile app is the company’s first product. It includes information on food ingredients, nutrition data and sends owners alerts of upcoming appointments, food recalls and medication refills. The app is not yet available for download.

Founded in 2015, the company intends to raise a total of $673,753, with $21,295 remaining to be sold, through eight investors.

In early 2018, Petrics will launch the first smart bed that offers a climate control feature and tracks your pet’s weight and activity. The bed will connect to the Activity Tracker in the mobile app.

Petrics did not disclose what it intended to do with the funds.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The filing can be found here.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism.

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