By the end of this year, Amistad, the pet-food company that is being acquired by Chinese food giant Sichuan Bao, will have sold more than 8 million units.
Amistads first product, the Happy Dog, sold about 7 million units and its second product, a product called Happy Dog Lite, sold 5 million.
“If we don’t deliver on the promise of our first product,” Amistada founder and CEO, Samy Bhasin, said in an interview with Fortune.
“The animal cell is going to be the best-selling product.”
The company has been in business since 1998, when it launched its first pet-nutrition product, which it dubbed the “dog-belly” product.
The Happy Dog was its first product to be sold in China.
Amity Dog, which has been sold in North America and the United Kingdom, has been selling in the U.S. since the early 2000s.
In March 2018, Amity was ranked number 14 on Fortune’s list of the world’s top 100 companies.
In March 2018 Amity announced that it had raised $2.4 billion in financing to fund development of an Animal Cell product, named Happy Dog.
The company has said that it expects to have an animal cell product on the market by the end.
But Amity has faced a number of hurdles in its development of the product.
One of those hurdles is that its founder has never been a dog owner and, as a result, he has not had the experience needed to develop a product.
The company had hoped to raise $500 million to develop the Animal Cell.
But a $250 million seed round in the spring of 2020, led by investment firm Accel Partners, has left the company short of that amount.
The funding was part of the $1.3 billion raised by the animal-cell group in the second quarter of 2019, but it had been in limbo.
In June, Amiad CEO Samy said the company was hoping to raise additional funding to finish the product, but he said that funding would be contingent on achieving a sales milestone.
“Our goal is to reach a point where we will have a full-time salesperson working on Happy Dog,” he said.
“Once we do that, we will then begin to put it into production.”
The funding was not enough to fully finance the company, however, and by the time the company completed the Animal Censored series of products in 2020, the $250 billion investment had evaporated.
So, Amitad went to the bank and borrowed $600 million from Chinese investment bank Caixin.
Amiada has since said it has a cash position of about $800 million.
The company was still struggling to raise funding for its animal cell project.
Its initial pitch, called Animal Cell Plus, was a one-year trial to see if it could get a product into the U, UK, and the U.-S.
But it was a failure.
While the animal cell had some success in the market, it did not translate into a product that people could eat in their homes.
The animal cell itself was not widely available and the price tag was high.
The product was sold only to veterinarians and medical devices manufacturers.
In the meantime, Ambitad raised $3 million in a funding round led by the private equity firm Andreessen Horowitz.
It also made a series of investments, including one from American Express, the second-largest American airline, and one from Goldman Sachs.
On Tuesday, Amigad announced that its second round of financing had secured a $1 billion commitment from Accel and Accel’s investor, China Securities Finance Corporation.
Amicam announced a $200 million seed investment.
The fund has also raised $150 million in venture capital.
Amistad is not the only company in China trying to build animal-specific products.
In February 2018, the country’s biggest food company, CITIC Group, acquired an animal-based food company called Noodle-Mate.
CITic, which operates more than 200 restaurants, will continue to produce its dog food and animal-only snacks, but the new company will focus on the animal’s meat and milk products.
A recent report from Reuters found that in 2019, Chinese companies were investing about $1 trillion in food.
In the United States, food companies spent $1,300 per person on food in 2018, up from $400 per person in 2015.
In addition to animal-centric products, the animal food industry has seen a number more successful ventures in the past two years.
In September 2018, British retailer Aldi announced that a new line of dog food, named Doggy Style, will go on sale this summer.
The line is expected to be available in all U.K. stores, including Aldi