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Lildog Secures New Funding Amidst Strategic Expansion and Competitor Acquisition
Lildog is poised for important growth following a period of product replenishment and strategic planning. According to CEO Sæthre, the company has successfully reproduced its devices, which are now ready for distribution to retail locations. This comes after a dip in sales during the fourth and first quarters.
Addressing concerns about the company’s focus on recent sales and growth rates, Sæthre stated, “I think we focus on that. that is the whole reason why we are conducting the bridge financing now. We have a product that is ranked high on Trustpilot and is growing. That is why we raise capital, to sell more.”
Acquisition of Competitor’s Customer Base Planned
In a significant move, Lildog is set to acquire the customer portfolio of one of its major competitors in the near future. Sæthre anticipates this acquisition will more than double Lildog’s existing customer base, as the competitor’s portfolio is larger than their own. The identity of the competitor will be disclosed in August, following notification to their customers. lildog will also assume collaborations with the competitor’s strategic partners.
Following a period of market volatility, lildog has focused on strengthening its board with notable figures from the animal sector. The company has welcomed dog coach Maren Teien Rørvik, recognized for her work on NRK programs, and veterinarian Trude mostue, also a familiar face on television.
Norway as a Testing Ground for Product Development
Recent financial reports from the Brønnøysund Register indicate that Lildog experienced a doubling of its turnover in 2023, reaching NOK 14.5 million, a ample increase from NOK 7.3 million in the previous year. The company also reported a profit before tax of NOK 2.2 million, a significant improvement from a loss of NOK 5.8 million in 2022. lildog’s long-term objective is to establish itself as a global leader in digital pet technology.
After establishing a presence in Europe, Lildog is now setting its sights on the United States market, which Sæthre described as “very large.”
Norway, with an estimated dog population of 590,000 according to the norwegian Kennel Club (figures from Kantar, 2025), has served as a crucial testing ground for Lildog’s products. The company has sold over 50,000 tracking units to date. Sæthre emphasized the strategic importance of this testing phase, stating, “We have used Norway to test the product. If it effectively works with the terrain we have in Norway, it will work everywhere.”
