Pet Care Startup Supertails Scoops Up $15 Mn in Series B Funding
In a notable advancement within the pet care industry, Supertails, a burgeoning full-stack pet care startup, has successfully secured Rs 125 crore (around $15 million) in its latest Series B funding round. This significant financial boost was led by RPSG Capital Ventures along with contributions from existing investors including Fireside Ventures, Saama Capital, DSG Consumer Partners, and Sauce VC.
The infusion of these new funds is earmarked for a variety of growth-oriented initiatives. Primarily, Supertails aims to leverage this capital for acquiring new customers, enhancing its technology infrastructure, and broadening its healthcare services. A key focus will be the expansion of the Supertails Pharmacy, which is part of the firm’s strategic development plans.
Beyond these immediate plans, Supertails is looking to branch out into the offline market, aspiring to create an omnichannel experience that caters seamlessly to consumers’ needs. This strategy is indicative of the brand’s commitment to not just maintain, but significantly enhance its engagement with the pet care community.
The successful closure of this Series B funding round comes on the heels of a fruitful Series A round in November 2022, where Supertails raised $10 million. Since its establishment in June 2021 by founders Varun Sadana, Aman Tekriwal, and Vineet Khanna, Supertails has cumulatively raised $27.5 million, showcasing a robust investor confidence in its business model and growth trajectory.
At its core, Supertails was conceived to cater to the nuanced needs of pet parents. Through its digital platform, the startup offers a wide assortment of food, treats, accessories, and other essential pet supplies. Recognizing the comprehensive needs of pet owners, Supertails expanded its offerings to include a pet pharmacy, making it a full-stack pet care platform complete with online vet consultations, behavior training sessions, and a dedicated pet pharmacy.
The fiscal performance of Supertails underscores a promising trend of rapid growth. The company’s operational revenue saw a remarkable 4.2X increase, soaring to Rs 33 crore in FY23 from Rs 7.82 crore in FY22. Despite a 2.6X surge in losses to Rs 30.6 crore in FY23 from Rs 11.65 crore in the previous fiscal year, the startup remains optimistic about its future prospects. With a clear vision, Supertails is aiming to double down on its growth strategies to achieve an impressive Annual Recurring Revenue (ARR) of Rs 500 crore within the next two years.
India’s pet population stands at an estimated 35 million, growing at an impressive compound annual growth rate (CAGR) of 15%. With a potential market size tapping at $5 billion, Supertails is keen on cementing its stature as a forefront player in this expanding industry.
While the competition in the pet care segment includes notable names like Heads Up For Tails, Goofy Tails, and JustDogs, Supertails is making significant strides. Notably, Heads Up For Tails has emerged as a major competitor with a $37 million fundraise in its Series A round. Nevertheless, Supertails’ comprehensive approach and strategic expansions signal a strong positioning amidst these competitive dynamics.
With its latest round of funding, Supertails is set to embark on a journey of accelerated growth and expansion. The startup’s ambitious plans are likely to redefine pet care services in India, making it an exciting space to watch in the coming years.
