Venture(US:VEMLY) Sou Hu Cai Jing·2025-11-18 00:49Core Insights - The company, founded by Hou Yi after leaving Hema, aimed to create a fresh pet food retail chain similar to Hema Fresh, but has faced significant operational challenges leading to the closure of many stores [1][3][5] Group 1: Company Background - Hou Yi established Paiteshengsheng in November after resigning as CEO of Hema in March, targeting the pet fresh food market [1] - The company quickly secured funding and opened its first store in February, expanding to over ten locations within six months, with plans to reach 100 stores in Shanghai by 2025 [1] Group 2: Operational Challenges - Reports indicate that out of 18 stores in Shanghai, 7 are either "temporarily closed" or "permanently shut down" [3] - The first store is set to close on November 25, with plans to shut down all physical locations by mid-December due to high operational pressures [5] - The initial concept was a new retail chain focusing on freshly made and refrigerated pet food, but the business model has struggled with high operational costs and low consumer frequency [5][7] Group 3: Financial Aspects - The company raised $25 million in angel funding in May 2025, setting a record in the pet industry [7]