Germantown-based
Chocolate Rescue for Dogs, a medical device company focused on animal health, has secured its first round of angel investments. The startup did not disclose which angel investors took part in the round, but said they include executives from the pet industry.
Chocolate Rescue for Dogs has created a dog treat that can encapsulate the toxins found in chocolate if a dog were to accidentally eat some. The startup was the winner of this year’s Bright New Idea Award at the Wisconsin Governor's Business Plan Contest.
The treat physically attracts and encapsulates caffeine and theobromine – the two toxins in chocolate - while remaining unreactive to other molecules.
A filing with the Securities and Exchange Commission shows Chocolate Rescue for Dogs was attempting to raise $155,000.
"We did reach our fundraising goal,” said
Arek Schmocker, chief financial officer and chief operating officer. “We likely could have raised additional dollars, but we chose to close with the investors we had to move quickly to a test launch.”
Chocolate Rescue for Dogs will use the initial funding to develop its supply chain, build inventory and test launch the product with a select pet retailer. The full commercial launch will follow within the next six months.
"We are thrilled and humbled by the overwhelming support we have received from our investors," said
Amadeus Benitez, co-founder and chief executive officer. "This funding will enable us to accelerate our product launch and take significant steps towards expanding our company’s reach. Our mission is to prevent death and harm from common poisonings, and this investment brings us one step closer to realizing that vision."
