In a series B funding round, Supertails, a full-stack pet care startup, has scooped up INR 125 crore from RPSG Capital Ventures and existing shareholders - Fireside Ventures, Saama Capital, DSG Consumer Partners and Sauce VC. This is one great startup latest news that has emerged. As per the development, the company revealed that “ the funding will be used in business growth by attracting new customers and investing in latest technologies, along with the enlargement of healthcare services including Supertails Pharmacy”. The company is also going to use the amount to step into the offline business and build an omnichannel experience for consumers.
In November 2022, the firm raised $10 million in a series A round. The funding came in a mix of equity and debt invested by Fireside Ventures. After the inception in 2021, the funding has scooped up to $27.5 million. By providing customised services, Supertails addresses the evolving needs of pet parents. The app of supertails provides an assortment of food, accessories, treats, and other pet essentials.
The company has also introduced a pet pharmacy on its platform for providing further assistance to pet parents. Due to the introduction of the pet pharmacy, the firm became a full-stack platform offering pet supplies, online behaviour training, online vet consultations, and a pet pharmacy. In FY23, the revenue of Supertails from operations grew 4.2X to INR 33 crore compared to INR 7.82 crore in FY22. As per the startup latest news by TheKredible, Supertails losses surged 2.6X to INR 30.6 crore in FY23 against INR 11.65 crore in FY22. The company aims to grow more and achieve an ARR of INR 500 crore in the next two years.
The population of pets in India is approximately 35 million, which is growing at a CAGR of 15% with a potential market size of $5 billion. Supertails wants to be a leading player in the pet care market. The competitors of the firms are Goofy Tails, Heads Up For Tails, JustDogs, etc. Head Up For Tails is the leading largest funded startup having scooped up $37 million in a Series A funding round from Verlinvest and Peak XV Partners and others.
Thought of YFS on Supertails’ Funding Story
Your First Startup (YFS) feels Supertails will be able to make its presence felt in the pet care space courtesy of Series B funding. With increased growth potential in the pet care market, the time for receiving funds won’t have been any better.