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AlgoGroup Secures USD 1 Million Seed Funding

Specialising in the organic growth, management and selective acquisition of pet care, food and related brands, AlgoGroup has secured USD 1 Million in Seed funding round jointly led by FoundFast and Primest Capital, with participation from notable angel investors including Thomas Hill (previously Founder of Clicksit before exit to Sorted).

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The fundraise, comprising a mix of debt and equity, equips AlgoGroup not only with financial resources to execute on our vision, but also an active shareholder base with thought leaders in sectors spanning technology, finance, legal and industry.

Read also – Yulu Raises $19.25 Million Equity Funding

“The Algo story began when we noticed a surge in new pet brands founded by entrepreneurs who were pet enthusiasts. These brand owners were underserved by traditional distributors, and lacked resources operating e-commerce marketplaces to scale their brands internationally,” said Chris Fung, founder of AlgoGroup.

“Algo offers a compelling new vision for how to create a house of consumer brands through technology, with strong ties to Hong Kong”, said Christian Oei, partner at FoundFast, a Hong Kong based startup platform. “As champions of Hong Kong entrepreneurial talent, we’re proud to call AlgoGroup our first portfolio company.”

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About AlgoGroup

Founded in 2023 by Chris Fung, AlgoGroup’s vision is to become Asia’s leading tech-enabled pet brand platform, specialising in the organic growth, management and selective acquisition of pet care, food and related brands.

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