Pet Care Startup Supertails Raises $15 Million in Funding, Eyes Offline Store Launches
Supertails, a Bengaluru-based pet care startup, has made headlines by securing $15 million (around Rs 125 crore) in equity funding led by RPSG Capital Ventures. The funding round also saw participation from existing investors, including Fireside Ventures, Saama Capital, DSG, and Sauce VC.
As per the pet care brand, the freshly raised capital will be used for offline expansion, scaling up products, acquiring new customers, and expanding its healthcare service, Supertails Pharmacy. The startup also plans to launch trial stores in a mix of metropolitan and tier-I cities like Bengaluru, Mysore, and Ahmedabad.
Supertails | Digital Pet Care Platform
Founded by Varun Sadana, Aman Tekriwal, and Vineet Khanna in 2021, Supertails is a Bengaluru-based pet care startup that focuses on expert-led pet care products and services.
The Bengaluru-based brand serves over 18,000 pin codes and offers a wide range of pet supplies. This includes toys, accessories, grooming essentials, and pet food, as well as online veterinary consultations, pet training services, and pet pharmacy across India. Currently, Supertails does not have physical retail stores, but the startup aims to have five to seven stores in the next six months.
Speaking on the development, Varun Sadana, Co-founder of Supertails, said,
“We will have to think of multiple stores in multiple localities. In the next two quarters, the idea is to have five to seven stores. And once we are able to crack that model, we’ll have at least 25 stores in the next two years.”
Statement from the Investor
Commenting on the investment, Abhishek Goenka, Managing partner, RPSG Capital Ventures, highlighted the significant potential of the pet care industry, driven by increasing disposable income and a rising trend in pet parenthood.
“As we expect India’s pet economy to grow over the next decade, Supertails’ expansion aligns perfectly with the current landscape.”
Supertails sells its products through its website, and as per the startup, 70% of its revenue is generated from food and food-related products, while non-food products form the remaining 30%, including the healthcare business, which accounts for 10% of its revenue.
Backed by angel investors like Mamaearth’s co-founder and CEO Varun Alagh and Cred founder Kunal Shah, Supertails plans to close FY24 at INR 100 crore in revenue. The Bengaluru-based brand also aims to hit INR 500 crore in annualized revenue run rate (ARR) in the next two years, which currently stands at INR 120 crore. In November 2022, Supertails raised $10 million in a Series A round led by Fireside Ventures.
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.