Woolworths has invested a further $4.9 million into its pet insurance and vet services joint venture PetCulture, as it looks to stick its snout further into the $10 billion pet care sector.

Woolworths and PetSure joined forces in late 2020 to create the PetCulture business. Woolworths holds 60 per cent of the JV.

“Woolworths and PetSure have a longstanding joint venture in PetCulture, an online specialty pet retail start-up,” a Woolworths spokesman said.

“This involves periodic investment, which in this case was the conversion of shareholder loans into equity.”

“The joint venture parties continue to operate the PetCulture business as a stand-alone business, benefiting from the specialist expertise of the Woolworths and PetSure businesses.”

This comes just over a month after Woolworths paid $586 million for a 55 per cent controlling stake in Petspiration – parent company of the PETstock brand, which has 276 stores, 65 vet clinics, and 162 grooming ­salons.

Woolworths CEO Brad Banducci (above) said at the time the investment was a step towards building the “Woolworths of the future.”

“Pets are living longer and leading more rich, enjoyable lives and we don’t see this as a peak (cycle). This trend started many years ago and we expect it to continue for many more years,” he said.