Pet Care Startup Sploot Raises Rs 5.2 Cr From Info Edge
Info Edge, which operates Naukri.com and 99Acres.com, has invested Rs 5.2 crore in Sploot, a New Delhi-based pet care company, through its wholly-owned subsidiary Redstart Labs (India).
The pet care startup has issued 1822 preference shares to Redstart, which is an existing investor in the firm, as part of the transaction.
Sploot | Pet Care Startup
Founded by Arnav Sahni and Garima Kaushal, Sploot is a New Delhi-based startup that provides pet care products and services linked to pet health, behaviour, and nutrition via content and app-based assistance. The services offered by Sploot include pet medical record administration, daily tasks, and access to pet care professionals.
Sploot is working with a mission to make a better dog parent through educational content, live experiences, and community meet-ups. In May 2022, Redstart invested USD 500,000 in Sploot. And with this current investment, Redstart will hold 24.13 per cent of the pet care startup.
Pet Care Industry India
Over the years, the pet care segment has witnessed a lot of traction, and many industry experts believe that pet healthcare is going to experience the same disruption that personal healthcare has experienced over the last few decades.
And as more Indians adopted pets during the Covid pandemic, the pet care industry is expected to boom in the next five years. India’s pet care industry is expected to touch Rs 10,000 crore by 2025.
Last year, several startups operating in this segment raised funding. Vetic, a tech-enabled chain of modern clinics focusing on overall pet health care, raised $3.7 million in a seed funding round led by Lachy Groom.
Supertails, a Bengaluru-based full-stack digital pet care platform that offers expert-led healthcare services and products, raised $10 million in a Series A round. Also, a Surat-based pet grooming platform Zoivane Pets, raised Rs 5 crore (around $6,05,063) from GVFL Ltd (formerly known as Gujarat Venture Finance Ltd) in a seed funding round.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.