Sploot closed a funding of $800,000 to expand services and areas of coverage.
Sploot, a New Delhi-based pet-parenting mobile app, raised $800,000 (€747,500) in its second round of seed funding led by angel investors.
The capital injection is expected to push regional expansion and further increase its services across its dog walking, grooming and customized meal plan services.
“India’s youth is now single-handedly giving rise to the pet parenting industry, and this is, in turn, giving rise to the demand for more things than just quality pet food, grooming, accessories, and other vet services,” says angel investor Chaturvedi. He also notes that he is happy to see Sploot enabling this “generation of hustlers with the ease of pet parenting at just a click.”
Since its founding, Sploot has been backed by Redstart Labs, a subsidiary of Info Edge. In 2022, the company invested $500,000 (€467,000) in the brand. Their latest contribution was not disclosed.
Sploot’s business philosophy is to simplify pet care by creating a community of pet owners who share their experiences and provide services and expert advice to troubleshoot common problems people have. It also focuses heavily on pet parenting education. “We believe that education about pet parenting is the first step towards influencing purchase decisions,” says Co-Founder and CEO Garima Kaushal.
Currently, the company boasts 100,000 app downloads, 80,000 meals delivered and 100,000 dogs walked in the National Capital Region alone. Sploot was earlier part of Blume Ventures’ Lead Tribe, a program for early-stage women entrepreneurs, and Google’s Appscale Academy, an educational platform supporting businesses of new-gen tech entrepreneurs.
Some sources indicate that Indian pet companies raised $77 million (€71.9M) in investments between 2021 and 2022.
The latest articles
European pet food manufacturers establish new group
SANYpet, Natural Line and Codico have created a new production and distribution group to capture the international market.
Flybird Holding’s tender offer for Musti is expected to be completed by March
Portuguese group Sonae increased the amount that shareholders of the Nordic pet retailer will obtain to €26.10 per share.
Zoetis increased revenue by 6% in 2023
Sales of its osteoarthritis, flea, tick and heartworm medications have driven the company’s pet portfolio’s positive results in the last quarter of 2023.
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.