Pet food brand LUVIN has raised Rs 2.4 crore or $300K in an angel round from M.V. Nair, a Gujarat-based family office of Possible Ventures and others.
According to LUVIN, the funds will be used to expand its portfolio, strengthen marketing efforts, and step up its presence pan-India.
Founded by Ipshit Bhattacharya and Meghna Bhattacharya, Fabulicious, the parent company of LUVIN, has launched 12 products in the D2C pet food space. The brand went live with its first product under ‘LUVIN’ in July last year. Out of 12, three products are manufactured in Europe while the rest are formulated and manufactured in-house.
LUVIN directly competes with the likes of Heads Up for Tails, Pawfect.xyz, Supertails, Wiggles, Goofy Tails, and Just Dogs among others. Heads up for Tails is the biggest player in the pet care space which raised the largest Series A round ($37 million) in August 2021. Delhi-based Goofy Tails recently secured $500K in its seed funding round from BeyondSeed, The Chennai Angels and others.
According to a Bonafide Research report, the Indian pet care industry is expected to reach Rs 5,474 crore by 2025, with a CAGR of more than 19 percent.