Petcare startup Supertails said Tuesday it has raised Rs 125 crore ($15 million) in Series B funding led by RPSG Capital Ventures, the early-stage venture capital arm of the RP-Sanjiv Goenka Group.
Existing investors Fireside Ventures, Saama Capital, DSG Consumer Partners and Sauce VC also joined the round.
The development comes months after VCCircle reported in September last year that the startup had initiated the process to raise fresh capital.
The Bengaluru-based startup, which offers veterinary care, pet food and supplies, and doorstep delivery of pet products, will use the capital to acquire new customers, make investments in technology and expand its healthcare services including Supertails Pharmacy.
“With this recent round of funding, we envision building an even more organised and easily accessible ecosystem, tailored to the diverse and evolving needs of Indian pet parents,” said co-founders Aman Tekriwal, Varun Sadana and Vineet Khanna in a statement. “This injection of funds will empower us to expand our offerings, enhance the user experience.”
The startup is aiming to achieve annual recurring revenue (ARR) of Rs 500 crore in the next two years, it said.
Founded in 2021, the startup raised $10 million in a Series A funding round led by consumer-focused VC fund Fireside Ventures in 2022. It offers a platform that provides pet supplies, online vet consultation and online behavioural training. Supertails is also planning to foray into the offline segment, as it builds an omnichannel offering.
Petcare startups have received increased interest from venture capital firms as well as strategic investors in recent years. In June last year, Mumbai-listed packaging firm Cosmo First Ltd, which also operates omnichannel pet-care venture Zigly, acquired Mumbai-based pet-care startup Petsy for an undisclosed amount.
Last year, VCCircle reported that pet products and care portal Heads Up For Tails was raising nearly $10-15 million from two existing investors—Peak XV Partners and Belgian private investment firm Verlinvest SA. Heads Up For Tails became one of the most prominent pet-care startups as it managed to raise a record sum of $37 million in a Series A round in 2021.
“We have always had a keen interest in Indian D2C companies and we strongly believe in the growing Indian pet care market,” said Abhishek Goenka, Managing Partner, RPSG Capital Ventures. “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.”
