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Economic Times
3 days ago
- Business
- Economic Times
VCs smell a big opportunity as petcare expands beyond food
A surge in pet adoption since the Covid pandemic, coupled with the rapid expansion of petcare services and the rise of quick commerce, is prompting both risk-capital and strategic investors to seek opportunities in the petcare startup space. ADVERTISEMENT On Monday, Swiss multinational Nestlé SA announced a minority investment in Drools, turning the Bengaluru-based pet food brand into a unicorn, or a privately held firm valued at $1 billion or more. Supertails, a digital petcare platform backed by Fireside Ventures, is in talks to raise $24–25 million in a fresh round, people aware of the matter said. Heads Up For Tails, a petcare brand and retail chain backed by Peak XV Partners, is also in discussions for a new round of funding, sources a Gurgaon-based veterinary care startup, recently closed a $26-million funding round led by Bessemer Venture the last five years, petcare startups — which are broadly categorised as either product-driven offerings or services — have raised $198 million in funding across 20 deals, according to data provided by Venture Intelligence. ADVERTISEMENT Petcare startups have raised $198 million 20 deals over five years. 'Investors see this as a very healthy category because on the one side, there is growth and on the other side, it is a pure retention-based category with good margins,' said Vineet Khanna, cofounder of Supertails. ADVERTISEMENT Founded in 2021, Supertails has raised $30 million so far, including $15 million from RPSG Capital Ventures in February 2024. Prior to the Nestlé investment, Drools had raised $60 million from L Catterton in 2023. ADVERTISEMENT India's petcare market, currently valued at $3.5 billion, is expected to reach $7–7.5 billion by 2028, according to a report by Redseer Strategy Consultants. The number of pets in Indian households has grown from 26 million in 2019 to 32 million in 2024, the report noted.'Higher disposable incomes, delayed marriages, and lower fertility rates are contributing to increased demand for companionship (of pets),' Khanna said the industry is growing consistently with strong retention of consumers, 'especially as people spend more across categories.' ADVERTISEMENT Legacy FMCG players and consumer companies have also entered the fray. In August 2023, Godrej Consumer Products committed Rs 500 crore to the category through a joint effort with Godrej Agrovet. Earlier, Nestlé India acquired Purina Petcare India from its global parent for Rs 125.3 crore, and Emami picked up a 30% stake in petcare brand Cannis Lupus Services India. Currently, Mars, the maker of Pedigree and Royal Canin, remains the market leader in pet nutrition in larger players, startups like Heads Up For Tails, Supertails, Goofy Tails, and Just Dogs have built product-led offerings, while Vetic, Petmojo, The Pet Nest, and Happy Pettings are focused on services like vet care, grooming, and product purchases are increasingly made online, especially on platforms like Amazon, Flipkart, and quick commerce services like Blinkit and Zepto.'Ecommerce created the initial demand, but quick commerce is what's taking it to the next level,' said Renu Bisht, founder of brand consultancy Commercify360. 'Now, even in tier-II cities, pet owners can access a wide range of products without visiting niche offline stores.'Non-food categories such as grooming, supplements, toys, and accessories are now growing faster than core pet food, industry experts said.'If food is growing at 18–20% year-on-year, non-food segments like healthcare and accessories are clocking over 25% growth,' Khanna noted. 'Pet parents today are far more aware of their pets' needs.' Prayag Mohanty, principal at Fireside Ventures, said, 'The pandemic was a clear tailwind. People were at home and started looking for companionship. That growth has continued across the category.'
Mint
05-05-2025
- Business
- Mint
These startups are drawing investor interest amid a growing tribe of pet parents
Mumbai: Urban India's pet parents are driving a wave of investor interest in the pet care space. A clutch of startups such as Heads Up For Tails, Supertails, and Vetic are now in fundraising talks amid rising demand for premium products and services. While Supertails looks to raise about ₹ 200 crore by the end of this year, Heads Up For Tails is eyeing an investment from domestic investment firm 360 One Asset over the next few months, according to multiple people familiar with the matter. Vetic, a tech-enabled chain of pet clinics, is looking to raise a sizable round and has begun discussions with investors, they said, adding that some of these transactions may see existing investors part exit their stake. Supertails and Vetic did not immediately respond to Mint's requests for a comment. While 360 One declined to comment, Heads Up For Tails' founder Rashi Narang denied the development. Investor interest in India's pet care industry surged in the years following the pandemic, driven by a wave of new pet adoptions and rising disposable incomes. In 2023, pet care startups raised a record $66.3 million across 16 rounds, led by one major transaction—Drool's $60 million fundraise. While 2023 saw a funding spike driven by Drool's large deal, overall funding activity in 2024 was more broad-based, with fundraising at $17.9 million spanning 13 rounds, as per Tracxn. 'Pet ownership in India is estimated to be less than 10% of overall households, but growing at a rapid pace with rising incomes, especially among urban consumers. In developed economies, pet ownership can exceed three in four households, and that headroom for growth is reflected among the upper income segments in India," said Devangshu Dutta, chief executive of Third Eyesight, a management consulting firm. He added that urban couples and singles in many cases are even opting to become 'pet parents" instead of having children. Platforms such as Supertails, Drools and Heads Up For Tails have been the big beneficiaries of this shift. Drools raised $60 million from LVMH-backed private equity firm L Catterton in 2023, while Supertails raised $15 million led by RPSG Capital Ventures in February last year. Earlier this year, Mint reported that Heads Up For Tails has begun fresh talks to raise $40 million from new and existing investors such as Peak XV and Verlinvest, about four years after its last institutional round. While the exact size of the round is still being decided, the company intends to use the proceeds towards its expansion plans. Similarly, Supertails, which is in talks to acquire Blue 7 Vets, a multispecialty veterinary clinic as part of its strategy to expand its offline presence, will also raise capital to fund the acquisition of new customers, investments in technology, and the expansion of healthcare services, including Supertails Pharmacy and build an omnichannel experience for consumers. The company raised about $15 million in its series B funding round last year led by RPSG Capital Ventures and existing investors Fireside Ventures, Saama Capital, DSG Consumer Partners and Sauce VC. Meanwhile, Vetic, which raised $3.7 million in a seed funding round led by angel investor Lachy Groom in 2022, aims to further bolster its geographical expansion of its clinic network across Delhi NCR and Bangalore regions. Vetic's round also saw participation from other angel investors including Utsav Somani, partner, AngelList India; Nitin Saluja, founder of Chaayos; Ritesh Agarwal, Abhinav Sinha, and Maninder Gulati of Oyo; Shiva Singh Sangwan, founder of 1947 Rise; Revant Bhate, CEO of Mosaic Wellness. Also Read: Four legged influencers are becoming pet care industry's marketing mavericks 'Consumers are not only spending more money or buying products and services but also becoming conscious of quality and the differentiation between brands on offer, much as they would with products that they buy for themselves and their family members," Third Eyesight's Dutta said. 'The spend on pet food, pet products and care services is growing… These trends have resulted in a growing number of companies entering the market and covering different segments of products and services," Dutta said. Currently valued at $3.5 billion, India's pet care industry is expected to grow significantly in the coming years, according to a report by Redseer Strategy Consultants in October 2024. As more pet parents focus on their pets' well-being, the demand for premium, specialized offerings will continue to rise, the report said, adding that the market's growth trajectory presents opportunities for both established players and new entrants to tap into this dynamic sector.
India Today
26-04-2025
- Health
- India Today
Pet obesity is on the rise. Where are hoomans going wrong?
The vet looked at Lolo, a five-year-old labrador with the softest eyes and a belly that now jiggled when he walked.'He's gained nearly 6 kilos,' she said gently. 'That's like a human putting on 20.'Lolo's pet parent, Tiana, squirmed. Between back-to-back Zoom calls, erratic meal times, and the guilt of not taking him on evening walks, she'd been making up for it with treats—extra biscuits here, leftover sausages 'But he looks so happy when I feed him,' she muttered, almost it sound like your story?When we bring a dog or a cat home, most of us do the math, figuring out what their needs will be like: constant care, morning and evening walks, meals on time, and, of course, regular grooming. While we may have the best intentions for our pets, there's one place where many of us might be going wrong: planning their a true pet parent, life often revolves around their furry friends—they try to do everything possible to keep them happy and healthy. But despite being careful about everything else, if their meals aren't tailored to their ideal portion size or lifestyle, dear parents, you might be doing more harm than good because this can lead to pet you heard that right. Just like us, if we're not mindful of what our pets eat, they can gain weight to the point of becoming immobile. Food is a love language in India, but if you think feeding your pet more than what they need makes you a better parent, think again. It might actually make you the unintentional villain in their = Food?A recent Royal Canin survey spanning over 14,000 pet owners and 1,750 veterinary professionals across eight countries, including India, reveals a concerning rise in pet obesity, with approximately 40% of adult cats and dogs globally classified as overweight or obese.'Obesity in pets is largely driven by overfeeding and under-exercising,' says Dr Umesh Kallahalli, animal consultant at Mars Petcare India. 'Busy schedules mean fewer walks. Add to that the habit of interpreting every tail wag or meow as hunger, and we're handing out more calories than needed.'And yes, we're guilty of 'just one more treat because he looks sad.' In fact, 41% of pet owners admit to giving pets special treats when they seem bored or lonely. The emotional eating, therefore, doesn't stay limited to humans, thanks to humans, of Dr Kallahalli mentions that neutering, ageing, and certain health conditions like hypothyroidism can also slow metabolism, making pets more prone to obesity.A portion problemThe confusion around how much to feed a pet is real. More than a quarter (26%) of pet parents don't know their pet's ideal weight, and a shocking 17% cite misinformation as a key reason they struggle to manage it.'We need to talk more about how much is too much,' says Rashi Narang, founder of Heads Up For Tails. 'With no one-size-fits-all diet, portion control is key—based on breed, age, and lifestyle.''Just as we're becoming more conscious about what we eat ourselves, we need to extend that awareness to what we feed our beloved companions—moving toward more fresh, balanced diets that support their health needs,' she health cost of that extra kibbleThe implications are more than just a chubby belly. Obese pets are at risk for:Diabetes and heart diseaseJoint pain and arthritisBreathing issuesComplications during surgeryA shortened lifespanAnd there's emotional fallout too.'What breaks my heart is seeing a formerly active, playful pup struggling to enjoy the activities they once loved. Beyond physical health, there are mental wellness implications too. Pets that can't move comfortably often become less playful and engaged, which affects their emotional well-being,' says lack of awareness does to your petadvertisementFirst things first, your responsibility does not end with just bringing a dog or cat home. Just like you would care for your own baby if you had one—what they eat, how much they eat, what they are allergic to, and so on and so forth—the same applies to that furry friend of yours too. Just in case no one told you, pet parenting is equivalent to, if not more arduous than, bringing up a you need to be aware of their needs even more because they, unlike humans, cannot convey.'Many of us haven't had easy access to information about proper pet nutrition and exercise requirements. There's also a gap in understanding what a healthy weight looks like for different breeds. Many pet parents don't recognise when their pet is overweight until health problems emerge. Sometimes we show love through food without realising the long-term effects,' says Kallahali adds that sometimes, pet parents also misinterpret their pet's begging as a sign of hunger and start giving small but consistent portion of food. These extra calories can quickly add up and lead to increased weight. Without regular vet consultations and a basic understanding of pet nutrition, weight gain goes unnoticed until health issues sad part – pet abandonmentYes, sounds sad, but this absolutely true and happening across the world (you must have seen a few adds too). Pet abandonment is one of the most pressing and heartbreaking contributors to pet homelessness in is good until it is not. 'Many pet owners give up their pets when faced with lifestyle changes like relocation, financial strain, or new family dynamics and often, abandonment happens without warning,' says per the State of Pet Homelessness Report by Mars Petcare, India currently has over 69 million homeless cats and dogs, with 60.5 million living as strays. A shocking 38% of dog owners and 57% of cat owners surveyed said they're considering giving up their pet in the next there's a whole mindset that needs conditioning before one plunge into the decision of getting or buying a how do you actually care?As mentioned, it all starts with conditioning yourself. You need to make yourself understand why you are getting a dog or a cat. Is it because you are lonely and need company or you really want to make a difference in that dog's life. That will give you a clearer you've made the decision, here's how you can set a routine for them. HUFT's Rashi Narang shares some pointers to help you get started:Start with a chat with your vet—they can help you understand what's ideal for your pet's specific breed, age, and health on high-quality, balanced diets appropriate for your pet's specific for portion-controlled meals for dogs with zero preservatives or meals help take the guesswork out of serving sizes, which is one of the biggest challenges in weight are allowed – but again portion control. Don't go doesn't have to be intense—it should be fun, but engage dogs, aim for at least 30 minutes of activity daily, whether it's walks, play sessions, or cats, interactive toys that stimulate their hunting instincts can keep them patient with progress—weight loss should be gradual, about 1–2% of body weight per most importantly, remember:They're not just pets—you're their whole trust you with every wag, every purr, every tired little that love; they're not toys, they're family.
