Indian pet company Heads Up For Tails raises $37 million

The investment will help HUFT increase its distribution footprint and accelerate new product developement. Currently, the team is 350 people big and is likely to grow to 450 by the end of the year.

Besides introducing its own line of fresh pet food, the company also plans to expand their portfolio of international brands they represent.

Indian pet market

According to Sequoia Capital, India is home to over 11 million domestic pets, and the amount Indian consumers spend on their cats and dogs is about to hit a major inflection point. Global studies show that spending on pets tends to rise sharply when GDP per capita hits around $4,000 to $5,000. India, which is now at about $2,000, is forecast to hit this number over the next five to six years.

India’s pet care market, which was worth $600 million in 2020, is growing at 20% annually and is likely to reach $4 billion by 2030 as pet ownership and per-pet spend continues to rise, unlocking the supply of quality food and accessories.

The investment comes from Verlinvest, Sequoia Capital India, Amitell Capital and W&C PetTech.