14 February 2024 – Pet care startup Supertails has secured Rs 125 crore (approximately $15 million) in a Series B funding round led by RPSG Capital Ventures, with participation from existing investors Fireside Ventures, Saama Capital, DSG Consumer Partners, and Sauce VC. The funds will be utilized to drive business expansion, enhance technological capabilities, and extend healthcare services, including the growth of Supertails Pharmacy. The company also aims to explore an offline business strategy and establish an omnichannel experience for consumers.
About Supertails:
Founded by Varun Sadana, Aman Tekriwal, and Vineet Khanna in June 2021, Supertails is a full-stack pet care startup addressing the evolving needs of pet parents. The Supertails app offers a comprehensive range of pet essentials, including food, treats, accessories, and more. The platform has expanded its services to include online vet consultations, online behavior training, and a pet pharmacy, positioning itself as a one-stop solution for pet care needs.
This Series B funding follows Supertails’ successful Series A round in November 2022, where it raised $10 million in a mix of equity and debt, led by Fireside Ventures. Since its inception, Supertails has now accumulated a total funding of $27.5 million, showcasing the significant investor confidence in its business model.
The newly acquired funds will play a crucial role in supporting Supertails’ growth trajectory. The company plans to acquire new customers, invest in technology, and expand its healthcare services. Additionally, it aims to venture into offline business strategies and enhance the overall consumer experience through omnichannel initiatives.
Financial Performance:
Supertails’ revenue from operations witnessed an impressive 4.2X jump, reaching Rs 33 crore during FY23 compared to Rs 7.82 crore in FY22. However, losses also increased by 2.6X, reaching Rs 30.6 crore in FY23 against Rs 11.65 crore in FY22. Despite this, the company remains optimistic about its growth potential and aims to achieve an Annual Recurring Revenue (ARR) of Rs 500 crore in the next two years.
With the pet population in India standing at approximately 35 million, growing at a CAGR of 15%, and a potential market size of $5 billion, Supertails is strategically positioning itself to be a prominent player in the thriving pet care segment. The company faces competition from other players in the market, including Heads Up For Tails, Goofy Tails, and JustDogs.
Conclusion:
Supertails’ successful Series B funding underscores the increasing importance and growth potential of the pet care industry. With a robust strategy in place, including technological advancements, service expansion, and offline initiatives, Supertails is poised to solidify its position as a leader in the pet care space. As the company focuses on doubling down on its growth plans, the funding will play a pivotal role in achieving its ambitious targets and providing comprehensive solutions for pet parents in India.
