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Pet food brand Drools claims unicorn status after minority stake by Nestlé

EntrackrEntrackr · 2m ago
Pet food brand Drools claims unicorn status after minority stake by Nestlé
Medial

Pet food brand Drools claims unicorn status after minority stake by Nestlé Drools Pet Food Private Limited claims it has become India’s first pet food unicorn following a minority investment by Nestlé S.A., the parent company of Nestlé India. Drools has not disclosed the details of the transaction but will continue to operate independently post-investment. The deal gives Nestlé access to India’s growing pet food market, while Drools is expected to continue expanding in both domestic and international markets. Drools, with brands like Pure Pet, Meat Up, Canine Creek, and Kitty Yum, claims to be the top seller in the pet food category on Amazon. The company operates fully online and also sells offline, including vet clinics, pet stores, and general trade retailers. Founded by Fahim Sultan in 2010, Drools operates six production facilities and has a warehousing footprint of 1.6 million square feet. The company distributes its products through 40,000 retail outlets in India and exports to 22 countries. It employs 3,400 people across its operations. Earlier in June 2023, Drools had raised $60 million in funding from private equity firm L Catterton at a valuation of $600 million. The round was one of the largest investments in the pet care industry in India. For the fiscal year ending in March 2024, Drools’ revenue from operations jumped 50% to Rs 714.90 crore from Rs 474.62 crore in FY23. The company however reported a net loss of Rs 14 crore in FY24 against Rs 27.65 crore profit in the previous fiscal year. Drools becomes the fourth startup to enter the unicorn club in 2025. Netradyne and Juspay reached the milestone in January and April, respectively, while Porter recently joined the list after raising $200 million in a Series E round at a valuation exceeding $1 billion.

Pet care startup Supertails scoops up $15 Mn in Series B

EntrackrEntrackr · 1y ago
Pet care startup Supertails scoops up $15 Mn in Series B
Medial

Full-stack pet care startup Supertails has raised Rs 125 crore (approximately $15 million) in a Series B funding round led by RPSG Capital Ventures and existing investors Fireside Ventures, Saama Capital, DSG Consumer Partners and Sauce VC. This funding will be deployed towards enabling business growth through the acquisition of new customers and investments in technology, along with the expansion of healthcare services including Supertails Pharmacy, the firm said in a press release. Supertails also plans to use the funds to foray into offline business strategy and build an omnichannel experience for consumers. In November 2022, the company raised $10 million in a Series A funding round in a mix of equity and debt led by Fireside Ventures. It has scooped up $27.5 million since its inception in June 2021. Founded by Varun Sadana, Aman Tekriwal, and Vineet Khanna, Supertails addresses the evolving needs of pet parents through their customised offerings. The Supertails app provides assortment of food, treats, accessories, and other pet essentials. Also Read: Amid pet care industry boom, PawPurrfect bets on convenience and healthcare To further support pet parents, the firm has introduced a pet pharmacy on its platform, becoming a full-stack platform offering pet supplies, online vet consultations, online behavior training, and a pet pharmacy. Supertails’ revenue from operations jumped 4.2X to Rs 33 crore during FY23 as compared to Rs 7.82 crore in FY22. As per startup data intelligence platform TheKredible, its losses surged 2.6X to Rs 30.6 crore in FY23 against Rs 11.65 crore in FY22. Supertails aims to double down on its growth and expansion plans to achieve an ARR of Rs 500 crore in the next two years. As per studies, the pet population in India stands at approximately 35 million, growing at a CAGR of 15% with a potential market size of $5 billion and Supertails aims to solidify its position as a leading player in the space. It competes with Heads Up For Tails, Goofy Tails, and JustDogs, among others. Heads Up For Tails emerged as the largest funded startup in this segment which raised $37 million in a Series A funding round led by Verlinvest and Peak XV Partners.

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