Austrian pet tech startup Tractive develops GPS trackers for dogs and cats, which allows for location tracking and activity monitoring of pets through a smartphone app or web browser. The startup is quickly becoming the market leader in the industry, and has just received a seven-figure investment from Monkfish Equity, the investment entity created by the founders of the travel tech startup trivago.
Founded in 2012, Tractive’s mission is to strengthen the bond between pets and their owners by leveraging technology to ensure a healthier, longer, and safer life together. Based in Pasching, Austria, the company currently employs around 70 employees and has customers in over 120 countries.
Tractive’s focus over the past few years has been on dog owners, but the company has now officially launched the world’s first cat-specific GPS tracker and activity monitor. This new device enables cat owners to finally discover where their cats go, see how much time they spend in various locations and find them whenever needed.
Wolfgang Reisinger, CFO of Tractive, said: “A huge number of cat owners constantly wonder what their cats do all day: where they go, which neighbor feeds them, and how far away from home they wander. Now they can finally get an answer.”
The new Tractive GPS Cat tracker is already available on its website for €49.99 in Europe, and will be followed by a worldwide rollout in 2019.
Michael Hurnaus, CEO of Tractive, said of the investment: “With Monkfish we have brought a partner on board that really knows how to take companies to the next level. Their incredible marketing know-how and experience in scaling companies profitably in just a few years will be immensely helpful.”
Malte Siewert, Partner at Monkfish Equity, added: “Dogs and cats are considered members of the family in most households, and this is only becoming more common. Digitally speaking, the pet market is still very much in its infancy and we are very excited to help support and further grow Tractive, who are already leaders in the digitalization of the pet space.”
