As parenting fur babies gains traction in India, thanks to lockdowns and work from home policies keeping people indoors, a new breed of startups is gaining traction in the pet care market. One such company, Heads Up For Tails (HUFT), which claims to have registered revenue growth of more than 80% despite the pandemic, plans to accelerate product development to corner a larger share of the market.
Fuelling HUFT’s growth ambition is a Rs 277 crore ($37 million) Series A funding round, which the company raised from investors such as Verlinvest and Sequoia Capital India, along with participations from Amitell Capital and existing investor W&C PetTech.
Founded by Rashi Sanon in 2008, HUFT has introduced over 100 products in the category. The company offers products ranging from human-grade, preservative-free treats to novelty items like orthopedic beds and organic supplements.
HUFT is looking to expand its portfolio of 10 exclusive international brands such as Pet head, Isle of Dog and Wild Earth that which currently sells in the country.
“We aim to create products and educational material for all the needs of pets at every stage of their life,” Heads Up for Tails, founder, Rashi Sanon, said in a statement.
The company employs 350 staff across teams like marketing, product, brand, tech and manufacturing. It aims to increase its employee count to 450 by the end of 2021.
“India’s pet care market is valued at about $600 million, growing at 20%+ CAGR and is likely to expand multifold over the next decade. In addition to increasing pet ownership and pet spends, this market will grow as a supply for quality products gets unlocked,” Sakshi Chopra, managing director at Sequoia India, said.