Supertails Nets $15 Mn To Expand Healthcare Offerings For Pets

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SUMMARY

So far, Supertails has raised a total of $27.6 Mn

The company will deploy this funding to support business growth, acquire new customers, invest in technology, expand healthcare services such as Supertails Pharmacy

Supertails aims to focus on growth and expansion, targeting an Annual Recurring Revenue (ARR) of INR 500 Cr within the next two years

Bengaluru-based pet care marketplace Supertails has raised $15 Mn (around INR125 Cr) in a Series B funding round led by RPSG Capital Ventures, with participation from existing investors, including, Fireside Ventures, Saama Capital, DSG and Sauce VC.

With this current round, Supertails has raised $27.6 Mn in total funding till date.

The company will deploy the fresh proceeds to support business growth, acquire new customers, invest in technology, expand healthcare services such as Supertails Pharmacy, and enter into an offline business strategy, building an omnichannel experience for consumers.

Founded in June 2021 by Varun Sadana, Aman Tekriwal, and Vineet Khanna, Supertails aims to dominate the pet care market by addressing the evolving needs of pet parents through customised offerings. 

The company provides pet supplies including toys, accessories, and food, along with online veterinary consultations, training services, and pet pharmacies across India. It serves over 18,000 pin codes.

Supertails aims to focus on growth and expansion, targeting an Annual Recurring Revenue (ARR) of INR 500 Cr within the next two years.

Supertails competes with the likes of Heads Up For Tails, Wagr, Just Dogs, and Wiggles.

Reportedly, the company plans to close FY24 at INR 100 Cr in revenue. Supertails clocked INR 33 Cr in operating revenue for FY23, with a net loss of INR 30 Cr, as per a filing.

“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. This injection of funds will empower us to expand our offerings, enhance the user experience, and ultimately strengthen the bond between pets and their devoted parents,” the cofounders said in a joint statement.

Abhishek Goenka, managing partner, RPSG Capital Ventures, said, “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.”

Kanwaljit Singh, founder and managing partner at Fireside Ventures, added, “Supertails has successfully managed to build a full-stack platform offering for its consumers. We look forward to seeing them strengthening their position in the Indian pet care market and fulfilling their aim of creating a stronger pet care community.”

In November 2022, the startup secured $10 Mn led by Fireside Ventures, and in 2021, it raised $2.6 Mn in its Pre-Series A funding round.

According to a report, India’s pet care market size was approximately INR 7,400 Cr in 2021 and is projected to reach INR 21,000 Cr by 2032, at a compound annual growth rate (CAGR) of 19.2%.




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Supertails Nets $15 Mn To Expand Healthcare Offerings For Pets

SUMMARY

So far, Supertails has raised a total of $27.6 Mn

The company will deploy this funding to support business growth, acquire new customers, invest in technology, expand healthcare services such as Supertails Pharmacy

Supertails aims to focus on growth and expansion, targeting an Annual Recurring Revenue (ARR) of INR 500 Cr within the next two years

Bengaluru-based pet care marketplace Supertails has raised $15 Mn (around INR125 Cr) in a Series B funding round led by RPSG Capital Ventures, with participation from existing investors, including, Fireside Ventures, Saama Capital, DSG and Sauce VC.

With this current round, Supertails has raised $27.6 Mn in total funding till date.

The company will deploy the fresh proceeds to support business growth, acquire new customers, invest in technology, expand healthcare services such as Supertails Pharmacy, and enter into an offline business strategy, building an omnichannel experience for consumers.

Founded in June 2021 by Varun Sadana, Aman Tekriwal, and Vineet Khanna, Supertails aims to dominate the pet care market by addressing the evolving needs of pet parents through customised offerings. 

The company provides pet supplies including toys, accessories, and food, along with online veterinary consultations, training services, and pet pharmacies across India. It serves over 18,000 pin codes.

Supertails aims to focus on growth and expansion, targeting an Annual Recurring Revenue (ARR) of INR 500 Cr within the next two years.

Supertails competes with the likes of Heads Up For Tails, Wagr, Just Dogs, and Wiggles.

Reportedly, the company plans to close FY24 at INR 100 Cr in revenue. Supertails clocked INR 33 Cr in operating revenue for FY23, with a net loss of INR 30 Cr, as per a filing.

“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. This injection of funds will empower us to expand our offerings, enhance the user experience, and ultimately strengthen the bond between pets and their devoted parents,” the cofounders said in a joint statement.

Abhishek Goenka, managing partner, RPSG Capital Ventures, said, “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.”

Kanwaljit Singh, founder and managing partner at Fireside Ventures, added, “Supertails has successfully managed to build a full-stack platform offering for its consumers. We look forward to seeing them strengthening their position in the Indian pet care market and fulfilling their aim of creating a stronger pet care community.”

In November 2022, the startup secured $10 Mn led by Fireside Ventures, and in 2021, it raised $2.6 Mn in its Pre-Series A funding round.

According to a report, India’s pet care market size was approximately INR 7,400 Cr in 2021 and is projected to reach INR 21,000 Cr by 2032, at a compound annual growth rate (CAGR) of 19.2%.




Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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