Benzinga | Jul 6, 2021 03:01PM EDT

Better Choice Company Sees Investment By China's Boqii

* Animal health and wellness company, Better Choice Company Inc (NYSE:BTTR), has received investment from Boqii Holding Ltd (NYSE:BQ), China's largest pet-focused platform.

* The terms of the investment were not disclosed.

* Better choice reported a loss of $0.23 per share in the first quarter of FY21, with an 11.4% decrease in sales year-on-year.

* Boqii's cash and equivalents totaled $70.3 million as of December 31, 2020.

* "We are thrilled to have buy in from our partners in China, as we view this market as one of our fastest-growing most profitable opportunities," said Better Choice Chairman Michael Young.

* Price action: BTTR shares are trading lower by 1.91% at $4.36 on the last check Tuesday.