Petpooja raises $15.5 Mn Series C at over 3x valuation premium

Restaurant point of sale (POS) and management software provider Petpooja has announced that the company raised Rs 137 crore ($15.5 million) in its Series C round led by Dharana Capital,  with the participation of Ashish Gupta, co-founder of Helion Ventures; Abhiraj Singh Bhal, Varun Khaitan, co-founders of Urban Company.

The fresh capital comes after a gap of four years for the Ahmedabad-based company.

The proceeds will be utilised to enhance Petpooja’s product portfolio, accelerate AI-driven automation, and bolster customer support, Petpooja said in a press release.

According to the company’s regulatory filings with the Registrar of Companies (RoC), Dharana Capital has invested Rs 82 crore, while Ashish Gupta chipped in with Rs 1 crore.  The allotment filings for the remaining amount has yet to be done.

Entrackr estimates that the new funding valued Petpooja at around Rs 910 crore ($103 million), a 3.5X jump from its previous round. The company’s post-money valuation will change once the remaining amount of the rounds is disbursed.

Founded in 2011 as a B2B food delivery venture, Petpooja later pivoted into a SaaS platform, offering cloud-based billing and management software for SMB food service businesses. The company says it serves over 1,00,000 clients across India, the UAE, and South Africa, and processes around 25% of online order volumes on Zomato and Swiggy.

So far, the company has raised about Rs 185 crore across rounds, including a $4.5 million Series B led by Aroa Ventures in 2021. Post this round, Dharana Capital will command an 18.62% stake in the company on a fully diluted basis.

While Petpooja’s FY25 financials are yet to be filed, the firm saw its revenue surge 43% to Rs 76 crore in FY24. During the same fiscal year, its losses also narrowed to Rs 13.4 crore.