🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

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.

Heads Up For Tails posts flat scale in FY23; losses mount 5X

EntrackrEntrackr · 1y ago
Heads Up For Tails posts flat scale in FY23; losses mount 5X
Medial

Pet care brand Heads Up For Tails struggled to grow in FY23. While the firm’s scale grew mere 2%, its losses blew 5X in the same period. This happened as its expenses on marketing and employee benefits rose sharply in the fiscal year ending March 2023. Heads Up For Tails’ revenue from operations grew to Rs 140 crore in FY23 from Rs 138 crore in FY22, its consolidated financial statements filed by the group company Sara Global Pte. Ltd. in Singapore show. For context, the Rashi Narang-led company achieved 85% year-on-year growth during FY22. Heads Up For Tails offers 13,000 pet products with over 250 brands on its platform including its own labels. The company claims to have a presence in more than 18 cities with over 90 stores and 65 pet spas. The sale of pet products comprised 96.7% of overall revenue which increased 3.4% to Rs 135.42 crore in FY22. Advertising, warehousing, and logistics were some other revenue drivers for Heads Up For Tails. See TheKredible for the complete revenue breakdown. Importantly, 93% of its revenue originated from domestic sales while the rest of the income came from outside India. It’s worth mentioning that the consolidated financial statements represent the group picture including its subsidiaries: Barkyard Private Limited and Precious Pet Services Private Limited. Coming to the expense side, the cost of procurement accounted for 55.59% of the overall expenditure which increased by 15% to Rs 118 crore in FY23. Heads Up For Tails’ burn on employee benefits, freight, marketing (advertising cum business promotion), professional charges, software, and other overheads took its overall expenditure up by 38.8% to Rs 212 crore in FY23 from Rs 153 crore in FY22. Head to TheKredible to see the complete expense breakup. Expense Breakdown Total ₹ 153 Cr https://thekredible.com/company/heads-up-for-tails/financials View Full Data To access complete data, visithttps://thekredible.com/company/heads-up-for-tails/financials Total ₹ 212 Cr https://thekredible.com/company/heads-up-for-tails/financials View Full Data To access complete data, visithttps://thekredible.com/company/heads-up-for-tails/financials Procurements of goods Procurements of goods Employee benefits Employee benefits Freight Freight Advertising and business promotion Advertising and business promotion Professional charges Professional charges Website and software Website and software Others To check complete Expense Breakdown visit thekredible.com View full data The flat scale and 39% surge in the total cost led Heads Up For Tails to bleed heavily and its losses reached Rs 71 crore in FY23 compared to Rs 14 crore in FY22. Its ROCE and EBITDA margin worsened to -25% and -43.8% respectively. On a unit level, it spent Rs 1.52 to earn a rupee. The company has raised around $40 million including its $37 million Series A round led by Peak XV and Verlinvest in 2o21. It competes with Supertails, Zigly, PetSutra, Wiggles, and most recently perhaps, Drools. FY22-FY23 FY22 FY23 EBITDA Margin -5% -43.8% Expense/₹ of Op Revenue ₹1.11 ₹1.52 ROCE -6% -25% The 2.5x jump in marketing costs is just one indicator of how competitive intensity in the pet care segment has grown. For Heads Up For Tails, it has come a little too early, as another strong year of growth would have placed it much better to take on competition. Now, it faces the unenviable task of getting back to a growth path without burning a hole in the books. There is every chance of investors seeking some consolidation in the otherwise growing segment , and its losses leave Heads Up For Tails vulnerable to just such an approach. Watch this space to see the last tail wagging.

Exclusive: Peak XV in talks to lead new round in visa startup Atlys

EntrackrEntrackr · 1y ago
Exclusive: Peak XV in talks to lead new round in visa startup Atlys
Medial

Online visa application platform Atlys is in talks to raise a new round to the tune of $15-18 million, sources aware of the development told Entrackr. The Mumbai and San Francisco-based firm is raising its Series B round within a year of Series A fundraise. “Atlys has initiated talks with existing backer Peak XV and others to raise Series B round. The talks are early and may take a couple of months to materialize,” said a source who requested anonymity. In September last year, Atlys scooped up $12 million in a Series A round led by Elevation Capital and Peak XV Partners with participation from existing investors Andreessen Horowitz (a16z), Musical Duo Chainsmokers, South Park Commons, Pinterest Founders and other investors. To date, it has raised over $17 million. “The round will be led by Peak XV and value Atlys anywhere at around $70 million or even more,” said another source. Launched in 2021, Atlys makes visa process visa-related processes easier in a quick time. It has built a tech which aims to reduce visa rejection rates. The platform covers more than 150 destinations and with an average time of just over 4-10 minutes spent to apply for a visa. As per sources, Atlys facilitates around 30,000 visa applications per month and India contributes more than 60% (20,000) visa applications. Earlier this year, the firm launched a new refund feature aimed at providing financial security to its users if their visa gets rejected. In a response to Entrackr’s queries, Atlys founder and CEO Mohak Nahta said, “We would like to clarify that we are currently not engaging in any fundraising activities, and reports or rumours indicating otherwise are inaccurate.” Queries sent to Peak XV did not elicit any response. Atlys competes with Gurugram-based Visa2Fly and Mumbai-based StampThePassport. While Visa2Fly raised $414K in its pre-seed round from ODX (On Deck), MarsShot VC (Razorpay Founders) and others in July 2022, StampThePassport raised $500K in September last year.

Download the medial app to read full posts, comements and news.