Supertails, a full-stack pet-care startup, has raised Rs 125 crore in its Series B round led by RPSG Capital Ventures with participation from existing investors like Fireside Ventures, Saama Capital, DSG Consumer Partners and Sauce VC, according to moneycontrol report.
The Deepika Padukone-backed company will use the money to begin offline operations, invest in technology and grow its healthcare services, including Supertails Pharmacy. The fresh funding also comes at a time when Supertails has been expanding its private labels business where it began selling pet food and other products under its own brand name around nine months ago.
This is the largest round for Supertails, which had previously raised a total of Rs 90 crore from institutional investors and angels like Cred’s Kunal Shah, Mamaearth’s Varun Alagh and others, since June 2021 when it began operations.
“We are excited to collaborate with Supertails as their innovative platform has gone beyond conventional pet care. With increasing disposable income and a rising trend in pet parenthood, the pet care industry holds significant potential in the future. As we expect India’s pet economy to grow over the next decade, Supertails’ expansion aligns perfectly with the current landscape,” said Abhishek Goenka, Managing Partner, RPSG Capital Ventures.
There are approximately 35 million pets in India and the base is growing at a compound annual growth rate (CAGR) of over 15 percent as the trend towards nuclear families and urban lifestyles continues to rise, as per the company.
Image Credit : Pexels
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.