What is Wild Earth? Wild Earth is a biotech company that produces vegan pet food made from koji, a fungus-based protein. It was featured on Shark Tank Season 10, where founder Ryan Bethencourt secured a $550,000 investment from Mark Cuban for 10% equity.
Summary
- Wild Earth is a company producing vegan pet food made from koji, a fungus-based protein.
- Founder Ryan Bethencourt appeared on Shark Tank Season 10 seeking $550,000 for 5% equity.
- Mark Cuban invested $550,000 for 10% equity.
- Wild Earth has since secured significant venture funding and expanded its product line.
- The company’s products are now available in retail stores, including Petco.
- Wild Earth plans to continue innovating and expanding its reach in the vegan pet food market.
Wild Earth Shark Tank Shark Tank Update | Shark Tank Season 10
Wild Earth is a pioneering company in the pet food industry, dedicated to creating healthy and sustainable food options for dogs and cats.
They are best known for their innovative use of koji, a protein-rich fungus, as the foundation of their pet food formulas.
This unique approach not only provides complete nutrition for pets but also significantly reduces the environmental impact associated with traditional meat-based pet food production.
The Rise of Vegan Pet Food
Pet owners are increasingly aware of the impact their choices have on the planet. This growing consciousness, coupled with a desire to provide their furry companions with the healthiest food options, has fueled the rise of vegan pet food.
Traditional pet foods often rely heavily on animal agriculture, which contributes to deforestation, greenhouse gas emissions, and water pollution.
Vegan pet food offers a cruelty-free and environmentally friendly alternative, while still providing essential nutrients for pets to thrive.
Wild Earth’s Mission and Vision
Wild Earth’s mission is to create a world where pets thrive on sustainable, healthy food. They envision a future where pet food production is kind to the planet and promotes the well-being of all animals.
By utilizing innovative ingredients like koji, Wild Earth aims to provide complete and balanced nutrition for pets while minimizing their environmental footprint.
Wild Earth on Shark Tank
1. The Pitch
| Entrepreneurs | Ryan Bethencourt |
|---|---|
| Business | Wild Earth |
| Ask | $550,000 for 5% equity |
| Deal | $550,000 for 10% equity |
| Sharks | Mark Cuban |
| Season – Episode | Season 10 – Episode 13 |
| Original Air Date | March 10, 2019 |
| Website | Wild Earth |
| Key Points of Pitch |
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| Why Sharks Invested |
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2. The Deal
Ryan Bethencourt initially sought $550,000 for 5% equity in Wild Earth, valuing the company at $11 million.
While the Sharks were impressed with the innovative product and the company’s mission, they expressed concerns about the high valuation, especially given that Wild Earth had not yet generated any sales.
Ultimately, Mark Cuban offered $550,000 for 10% equity, a deal that Bethencourt accepted.
3. Challenges and Concerns
The Sharks raised several concerns during the pitch, including:
- Lack of Sales: Wild Earth had not yet launched its products at the time of the pitch, making it difficult for the Sharks to assess the company’s market potential.
- High Valuation: The $11 million valuation was considered high by some Sharks, given the lack of sales and the relatively early stage of the company.
- Competition: The pet food industry is highly competitive, with established players and a wide range of products already available.
Despite these challenges, Wild Earth’s innovative approach to pet food and its focus on sustainability resonated with Mark Cuban, leading to a successful deal that would propel the company’s growth in the years to come.
Wild Earth After Shark Tank
1. Product Development and Expansion
Since their appearance on Shark Tank, Wild Earth has been busy expanding its product line and improving its formulas. Initially, they focused on dog treats made with koji.
However, they soon introduced a complete and balanced dry kibble for dogs, using a blend of koji protein and other plant-based ingredients.
This kibble meets the nutritional levels established by the Association of American Feed Control Officials (AAFCO), ensuring dogs receive all the necessary nutrients for a healthy life.
Recognizing the unique nutritional needs of cats, Wild Earth also developed a line of vegan cat food.
This involved extensive research and development to ensure the formula provides cats with essential nutrients like taurine, typically found in animal-based products.
2. Funding and Growth
The Shark Tank deal with Mark Cuban proved to be a catalyst for Wild Earth’s growth. It not only provided crucial funding but also increased brand visibility and consumer trust.
Following the show, Wild Earth secured significant investments from venture capital firms, including VegInvest and Peter Thiel’s Founders Fund.
This influx of capital allowed them to scale up production, invest in research and development, and expand their team.
3. Retail Partnerships
To reach a wider audience, Wild Earth actively pursued retail partnerships. Their products are now available online through their website and Amazon, as well as in various independent pet stores.
In a significant milestone, Wild Earth secured a partnership with Petco, one of the largest pet supply retailers in the United States.
This move has significantly expanded their distribution network and made their products more accessible to pet owners across the country.
The Future of Wild Earth
1. New Products and Innovations
Wild Earth has ambitious plans for the future, with a strong focus on innovation and expanding their product offerings.
They are actively exploring new ingredients and technologies to create even more sustainable and nutritious pet food options.
This includes research into alternative protein sources, such as lab-grown meat, which could further reduce the environmental impact of pet food production.
In addition to expanding their food lines, Wild Earth is also developing a range of supplements and treats designed to address specific health needs of pets. This could include supplements for joint health, skin and coat health, and digestive support.
2. Market Trends and Projections
The market for vegan and sustainable pet food is experiencing rapid growth, driven by increasing consumer awareness of animal welfare and environmental concerns.
Pet owners are actively seeking healthier and more ethical options for their furry companions. This trend is expected to continue in the coming years, creating significant opportunities for companies like Wild Earth.
Industry experts predict that the global vegan pet food market will continue to expand significantly in the next decade. This growth is attributed to factors such as increasing pet ownership, rising disposable incomes, and a growing preference for premium pet food products.
Wild Earth, with its innovative products and commitment to sustainability, is well-positioned to capitalize on these trends and become a leader in the evolving pet food industry.
FAQs
Is Wild Earth pet food truly vegan?
Yes, Wild Earth pet food is 100% vegan. It contains no animal products or by-products. Their main protein source is koji, a fungus that provides complete and balanced nutrition for dogs and cats.
Where can I buy Wild Earth pet food?
Wild Earth products are available online through their website and Amazon. You can also find them at select independent pet stores and Petco locations nationwide.
Is Wild Earth pet food more expensive than traditional pet food?
While the price of Wild Earth may be slightly higher than some conventional brands, it’s comparable to other premium pet food options. Consider the long-term health benefits and environmental impact when comparing prices.
Is Wild Earth pet food suitable for all dogs and cats?
Wild Earth formulas are designed to meet the nutritional needs of most adult dogs and cats. However, it’s always best to consult with your veterinarian if you have concerns about your pet’s specific dietary requirements or health conditions.
What is koji, and why is it used in Wild Earth pet food?
Koji is a type of fungus that has been used in Asian cuisine for centuries. It is a highly digestible and nutritious protein source that is also sustainable and environmentally friendly.
The Bottom Line
Wild Earth is a company that is revolutionizing the pet food industry with its innovative and sustainable approach. By using koji as their primary protein source, they are providing pets with complete and balanced nutrition while minimizing their environmental impact.
Their appearance on Shark Tank, coupled with their commitment to product development and strategic partnerships, has positioned Wild Earth for continued success in the growing market for vegan and sustainable pet food.
