Gran Canaria's public fund backs pet-food startup Rawway with €100,000
What's the deal? RawwayDealroom has a profile for this one. Try Dealroom →, a Gran Canaria startup that makes natural, BARF-diet pet food under Wolfy Diet S.L.Dealroom has a profile for this one. Try Dealroom →, has raised €100,000 through a participative loan instrument. The investment came from the Sociedad de Promoción Económica de Gran Canaria (SPEGC)Dealroom has a profile for this one. Try Dealroom →, the Cabildo de Gran CanariaDealroom has a profile for this one. Try Dealroom →'s economic development body, through its Innverpyme instrument.
Who's investing? Innverpyme is SPEGC's financial vehicle for backing small and mid-sized technology and innovation firms. The round marks continued support for companies whose main activity and expansion plans are based on the island.
What's the money for? Rawway will expand production capacity, grow commercially across the Canary Islands, and create 14 jobs. It plans to move into a new industrial unit fitted with cold processing and packaging machinery, including a mixer, a stuffer, a thermoformer, and a grinder.
What's the endgame? Part of the funds will go toward an in-house digital platform to manage subscriptions and in-store order collection. Rawway also intends to adopt technology to make better use of local raw materials and guarantee product traceability.
The signal: The deal shows regional public funds stepping in to anchor small, locally rooted businesses, betting that early capital can help an island startup meet rising demand and scale within the Canaries.
Read more: capital-riesgo.es
Image credit: Generated with Gemini
