Pet care brand Heads Up For Tails announced Thursday that it has raised $ 37 million (around Rs 277 crore) with funding led by Verlinvest and Sequoia Capital India. Series A also saw participation from Amitell Capital and existing investor W&C PetTech, according to a statement. The funding builds on an exceptional year for the company, which, despite the pandemic, has seen its revenues increase by more than 80%, he added.
The company has already raised around $ 13 million in funding. “The (latest) investment will help HUFT increase its distribution footprint across India and accelerate the development and manufacture of new products,” he said. The company, through educational content and marketing efforts, also aims to increase awareness among parents of existing and new pets about the need for pet welfare and care, he said. he noted.
Also Read: Doxel Raises $ 40 Million in Series B
Founded in 2008 by Rashi Sanon, Heads Up For Tails (HUFT) has launched more than 100 Indian products that provide innovative solutions to animal care problems and help animals lead their best lives. We aim to create products and educational materials for all the needs of pets at every stage of their life. We will continue to be an integral part of people’s lives as pet parenting partners, leveraging our in-house expertise and over 12 years of experience working with dogs and cats, said the founder of HUFT, Rashi Sanon.
HUFT, which currently has a team of 350 in functions such as marketing, products, brand, technology and manufacturing, aims to increase the number of employees to 450 (by the end of 2021). The company also plans to introduce a range of fresh pet food across the country, as well as expand its portfolio of 10 exclusive international brands such as Pet head, Isle of Dog and Wild Earth, he said. he declares.
The Indian pet care market is valued at around $ 600 million, growing over 20% CAGR and is expected to expand over the next decade. In addition to increasing pet ownership and pet spending, this market will grow as the supply of quality products is unlocked, ”said Sakshi Chopra, Managing Director of Sequoia India. HUFT has the opportunity to become the destination for all things pet care with a focus not only on commerce, but also on preservation, content and consultation, she added.