Latest news with #WiproConsumerCareVentures
Time of India
3 days 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.
Time of India
30-04-2025
- Business
- Time of India
Health food brand Anveshan raises Rs 48 crore from Wipro Consumer Care Ventures, others
Anveshan , a health food brand , has raised Rs 48 crore in a funding round led by Wipro Consumer Care Ventures , the venture capital arm of Wipro Consumer Care & Lighting. The round, which was a mix of primary and secondary capital, saw participation from existing investors DSG Consumer Partners, Titan Capital Winners Fund, Force Ventures, and angel investors, including Boat founders Aman Gupta and Sameer Mehta. The funds will be used to expand partner manufacturing units, strengthen the company's supply chain, enhance its traceability platform, and accelerate branding and marketing efforts. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, the Gurugram-based company provides minimally processed food products prepared traditionally, in rural areas. 'We didn't just want to build a food brand; we wanted to rebuild trust by making food that's clean, traceable, and rooted in the wisdom of our Indian traditions. Today's conscious consumers don't just want taste; they want truth on their plate,' said the founders, in a statement. According to the company, it has achieved a net revenue run rate of over Rs 100 crore in FY25, reflecting 80% year-on-year growth. It is now targeting a Rs 500 crore in revenue over the next few years. Commenting on the investment, Sumit Keshan, managing partner, Wipro Consumer Care Ventures, said, 'We are excited to invest and partner with Anveshan in their journey to provide high-quality preservative-free products to consumers… This marks our 14th investment from our fund and third in the food sector.' The other two investments in the food industry are Let's Try and The Baker's Dozen. 'The brand has scaled over 10x since our first investment, with top-decile capital efficiency, sharp category focus, and a disciplined SKU strategy, emerging as a leader across digital channels,' said Hariharan Premkumar, managing director, DSG Consumer Partners.
Time of India
30-04-2025
- Business
- Time of India
Health food brand Anveshan raises Rs 48 crore from Wipro Consumer Care Ventures, others
Synopsis Health food brand Anveshan has raised Rs 48 crore in a round led by Wipro Consumer Care Ventures. The Gurugram-based startup will use the funds to expand manufacturing, strengthen its supply chain, and boost branding. Founded in 2020, Anveshan offers traditionally made, minimally processed foods and targets Rs 500 crore in future revenue.
