MoFo Advises SoftBank Latin America Fund on Investment in Laika

Morrison & Foerster advised SoftBank Latin America Fund on leading a Series B funding round for Laika, a Colombia-based pet supplies e-commerce platform.

Founded by siblings Camilo, Manuela, and Tulio Jimenez in 2018, Laika is named after a Russian space dog who became the first animal to orbit the Earth. The company has more than 500 full-time employees with operations in Colombia, Mexico, and Chile. In addition to making money from sales to its 300,000 active users, Laika also profits from a $20 per year membership service similar to that of Amazon Prime. With money from this round, Laika plans to launch a new product in the first quarter of 2022: dog and cat insurance at a price of $10 per month. The company will also use the funding to expand to other markets, including Argentina, Peru, and Ecuador.

The MoFo team advising SoftBank Latin America Fund on the deal was led by Miami-based Latin America Desk co-chair Randy Bullard, together with corporate partner Juan Delgado and associates Axel Miranda and Fernando Guardazzi.