Online petcare platform PetSutra has raised Rs 9.5 million as a seed investment from a group of investors. The Gurugram-based company offers end-to-end solutions to pet owners for adoption, health, food, and wellness of their pets.
The raised funds will be used in expanding the product range and customer base globally.
Founded in 2016, PetSutra is the brainchild of Amol Sharma. The mobile application-based company claims to have reached over 81,000 people on the social networking site Facebook. It also plans to come up with an AI interface soon which would make it easier for pet owners to gather everything related to their pets from one destination.
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PetSutra competes with players like Dogspot, DogMyCats, Tailslife, Heads Up For Tails and others.
Its competitor Dogspot is one of the leading online store for pet supplies, food, accessories and other products. In 2016, it also raised an undisclosed amount of funding from Ratan Tata and others. Previously it had raised about $ 500,000 led by India Quotient.
Last year, another player in the space, Heads Up For Tails raised $2 million from investors in a pre-Series A round in 2017. Previously, it raised $1 million in seed funding from undisclosed investors.
The Indian pet market has grown immensely in the past few years.
According to a 2016 report called India Pet Food Market Forecast & Opportunities, the pet food market in India is projected to cross $270 million by 2019. The major factors contributing to this exponential rise in demand for pet food includes the rising number of nuclear families in urban areas and increasing per capita disposable income.
The news was first reported by Moneycontrol.
