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Time of India
a day ago
- Business
- Time of India
Wipro Consumer Care Ventures leads $1 million funding in pet food startup Goofy Tails
Wipro Consumer Care Ventures has announced an early stage investment leading a $1 million round in New Delhi-based direct-to-consumer (D2C) pet food startup Goofy Tails . The current pre-series A raise is for over $1 million, bringing the total capital raised by the company to $2 million to date, the Wipro Group's venture capital firm said in a statement. Part of the billionaire businessman Azim Premji-led Wipro group, the investor is the venture capital (VC) arm of Wipro Consumer Care & Lighting. Goofy Tails marks the first investment of Wipro Consumer Care Ventures in the pet food space, the third investment this calendar year. Overall, it is the 15th investment from the first fund, with a size of Rs 200 crore, started in 2019. Some of its investments across India and Southeast Asia include brands such as MyGlamm, TAC-The Ayurveda Company, Power Gummies, LetsShave, Ustraa, Soulflower, Let'sTry, Anveshan, and The Baker's Dozen, among others, with the most recent being Moom Health. 'With this investment, Wipro has fully deployed its Fund I and will now kick off its recently launched Fund II, which has a corpus of Rs 250 crore,' the statement added. Founded in 2021 by four entrepreneurs —Kartik Gupta, Karan Gupta, Kunal Gupta, and Ashish Kaushal—Goofy Tails is a digital-first pet nutrition brand offering meals, freeze-dried foods, supplements, and treats for dogs and cats. 'We are glad to partner with Goofy Tails, which is passionately addressing key gaps in India's pet food market. With pets increasingly becoming family, there is a growing demand for high-quality, nutritious, and innovative pet food products,' said Sumit Keshan, Managing Partner, Wipro Consumer Care Ventures. India's pet food market is projected to reach $1.7 billion by FY31, with 70% contributed by dog food and 30% by cat food, the statement said. Goofy Tails has served over two lakh pets, with products being sold in online marketplaces, quick commerce platforms, and on its own website. 'This investment will not only help us scale and reach more pet parents across India but also accelerate R&D and new product innovation, further strengthening our mission. We look forward to leveraging Wipro's strategic insights and operational strengths as we grow our offerings and distribution,' said Karan Gupta, cofounder of Goofy Tails.
Entrepreneur
2 days ago
- Business
- Entrepreneur
Wipro Consumer Care – Ventures Makes First Foray into Pet Food with Investment in 'Goofy Tails'
This marks Wipro's third investment in 2025 and its 15th overall. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a strategic expansion of its investment portfolio, Wipro Consumer Care – Ventures has announced its first investment in the pet food segment, backing New Delhi-based D2C pet nutrition brand Goofy Tails. The investment is part of a pre-series A round of over USD 1 million, bringing the total capital raised by Goofy Tails to USD 2 million. Founded in 2021 by Karan Gupta, Kartik, Kunal, and Ashish, Goofy Tails offers holistic pet nutrition including wholesome meals, freeze-dried foods, supplements, and treats. The products, formulated by veterinarians and nutritionists, are made from clean, 100% natural ingredients — free from gluten and preservatives, and designed for maximum bioavailability. Sumit Keshan, Managing Partner at Wipro Consumer Care – Ventures, said, "We are glad to partner with Goofy Tails, who are passionately addressing key gaps in India's pet food market. With pets increasingly becoming family, there is a growing demand for high quality, nutritious, and innovative pet food products. The founding team's deep expertise and strong execution gives us confidence in their potential." Goofy Tails claims to have already served over two lakh pets and sells through major online marketplaces, quick commerce platforms, and its own website. Karan Gupta, Co-founder of Goofy Tails, remarked, "Partnering with Wipro Consumer Care – Ventures is a significant milestone for us. This investment will not only help us scale and reach more pet parents across India but also accelerate R&D and new product innovation – further strengthening our mission." This marks Wipro's third investment in 2025 and its 15th overall. With this, the company has fully deployed Fund I and will now activate its INR 250 crore Fund II, continuing to focus on digital-first consumer brands across India and Southeast Asia.
Time of India
5 days ago
- Business
- Time of India
Why US education no longer feels like a safe bet for Indian applicants
For generations, studying in the United States has been a defining dream for many Indian students. With its renowned universities, global career opportunities, and a reputation for innovation, the US has long been the top destination for India's brightest minds. Tired of too many ads? go ad free now But that sense of promise is now being replaced by doubt. Recently, the Trump administration announced a sudden halt on visa interviews for foreign nationals, creating confusion among students who had already received admission letters. Just days earlier, a controversial order sought to bar Harvard University from enrolling international students—an order that was later blocked by a judge. Yet, the developments have unsettled students, parents, and education consultants alike, as reported by the New York Times. Visa uncertainty creates panic among students and families India is currently the leading source of international students in the US, with over 330,000 enrolled during the 2023–24 academic year, surpassing even China. The new visa restrictions have thrown thousands of plans into disarray. Many students are now anxiously waiting for updates, unsure if or when their visa appointments will happen. According to New York Times, Karan Gupta, a career counselor who advises around 150 students annually, has been flooded with calls. "There are students with admission letters who don't know if they will get visa appointments, and those in the US worried about their visa status," Gupta said. He also mentioned that students now question if applying to US universities is "a safe and stable choice." Students shift focus to alternate destinations Kaushik Sharma, a 28-year-old applicant to public policy programs, told the New York Times that studying in the US had been his dream. Tired of too many ads? go ad free now But in light of the new developments, he is now considering programs in the UK and Singapore. "I don't want to go there and be in a constant state of fear," Sharma said. Other students are preparing backup plans. Sameeksha Desikan, 25, who secured her visa to attend New York University this fall, has kept her offer from a top UK law school open "just in case things get crazier," she told the New York Times. Social media scrutiny and 'visa temples' add to the tension The US State Department has also announced expanded screening of applicants' social media activity. This has prompted some students to delete posts, unfollow accounts, and move conversations to encrypted chats, as noted by the New York Times. Others are seeking spiritual support. At a temple in Delhi known as a "visa temple," students offer prayers in hopes of better outcomes. "People who are not getting visas come here," temple priest Narayan Mishra said to the New York Times. "They are fed up and frustrated." American dream still has allure, but with hesitation Despite current concerns, US universities continue to attract Indian applicants, drawn by success stories of Indian-origin global leaders like Satya Nadella, Sundar Pichai, Gita Gopinath, and Abhijit Banerjee. However, the growing unpredictability under the Trump administration is forcing students and their families to think twice. As Shashank Shukla of IVYDreams told the New York Times, "Even Ivy League admits are asking if it's still worth it."
New York Times
7 days ago
- Lifestyle
- New York Times
For Indian Students, Dreams of America Are Suddenly in Doubt
In India, the country that sends more students to the United States than any other, young people who had hoped to pursue higher education in America this fall described feeling in a state of limbo after the Trump administration's decision to pause interviews with foreign nationals applying for student visas. Some are scrubbing their feeds, deleting comments and unfollowing accounts after the State Department said that it would screen social media use. Others are exchanging news and information in newly formed encrypted group chats. And some have sought divine aid in 'visa temples' — so called because Hindu devotees say prayers there provide a greater chance of getting a tourist, study or work visa. Career counselors have become therapists, and the extended family networks that many Indians have in America — uncles and aunts who will often help finance the education of a niece or nephew — have set up war rooms online. Other students are revisiting their backup plans or rethinking their academic paths. 'I have carefully built my profile to be able to get into the top policy programs in the U.S.,' said Kaushik Sharma, 28. He called it his 'dream' to study in America but added that the current environment was making him nervous about applying. 'I don't want to go there and be in a constant state of fear,' he said. He is now considering similar public policy programs at universities in Britain and Singapore, he added. Karan Gupta, a career counselor who coaches around 150 students a year and works with around six per day, said he had been inundated by calls in the past few days. 'There are students with admission letters who don't know if they will get visa appointments, and those in the U.S. worried about their visa status,' Mr. Gupta said. Then, he added, there are those planning to apply to American universities next year calling to ask if 'it's a safe and stable choice.' Want all of The Times? Subscribe.
The Hindu
27-05-2025
- Business
- The Hindu
Yes Bank stake sale to SMFG may pave way for more foreign banks' entry to India: Fitch Ratings
Yes Bank stake sale to Sumitomo Mitsui Financial Group (SMFG ) would set the stage for more foreign banks investing in mid-sized banks in India, according to a commentary by Fitch Ratings. 'Acquiring banks would benefit from access to a broader branch network, enabling franchise growth despite India's intensely competitive financial landscape, while the acquired banks could also benefit from the potential provision of funding and capital over the medium term,' Fitch said in its statement. The ratings agency also said that currently foreign banks hold 3% Indian customers' loans and 6% of assets. While Fitch sees a possibility of an increase in such foreign investment in banks in the system, regulatory issues in the mid-sized banks may keep them cautious, Fitch added in its commentary but added that foreign investment may come with increased oversight and governance. Reserve Bank of India regulations do not allow foreign banks to have more than 26% of voting rights and 15% of the ownership in India banks. 'The YES BANK transaction will be the first significant acquisition by a foreign bank and would give SMFG significant control over YES BANK as the largest shareholder with two board appointees. It could pave the way for future transactions, if the Reserve Bank of India's (RBI) approval for the transaction sets a precedent,' the Fitch release read. 'This is the third acquisition after DBS take over of Lakshmi Vilas Bank, Fair fax's stake purchase of Syrian Catholic Bank and now the SMFG stake takeover from Yes Bank. Next on line could be IDBI,' according to Karan Gupta, Senior Analyst at India Ratings, adding that cap on 15% ownership may be reconsidered by the RBI as seen in few other cases. 'Setting up branches is difficult and taking over franchises is easier for foreign banks if they want to build a network in India,' he added.
