Angel Investors back pet startup PetSutraNeha Jain
Pet startup PetSutra has raised Rs 95 lakh from angel investors from across the world. The funds will be used to expand the company's brand presence across India and globally. Gurgaon-based PetSutra leverages technology to provide information to pet owners, connecting them with service providers, and catering to their requirements through its own, or other brands in the categories of treats, toys, and accessories.
Having started with its flagship yak milk-based treat called Chewlicious, PetSutra is now eyeing expansion into other categories such as grooming and wearable devices for pets. It also has a mobile application which has features like adoption, pet care, pet dates, etc, and would soon come up with an AI interface.
Amol Sharma, founder, PetSutra, said, “This is not just a startup for us, it is something that we came up with out of our love for pets. Owing to the lack of knowledge and awareness among people for their pets, PetSutra is an initiative to educate and help people in making the journey of their pets worthwhile. Our investors have faith in us and are as excited as we are. Given the magnitude at which the pet industry is growing, our efforts will show great results sooner than later.”
Speaking about his investment, Michael Patrick Hickey, one of the angel investors, said, “Market opportunity aside, I have a detailed view around what impacts the probability of success for any endeavor. There are three broad areas with a lot of detail within. These are: Choice, Capability, and Commitment. A high probability of success requires strength in each of these areas and I believe that PetSutra has what it takes.”
He continues, “PetSutra’s aim to deliver a holistic ecosystem for pet parents leveraging mobile app and internet supply, combined with their professional experience and a disciplined approach to using data to drive decision making along with a strong work ethic, are very encouraging indicators for success.”
The pet care market globally is upwards of $150 billion and is forecast to continue to grow. The trend is toward increasingly premium quality products, mainly as a result of increased awareness around food quality.
In coming years, PetSutra’s plan is to be a dominant player in the pet industry, focusing on providing specific solutions to peculiar problems of the pets. The company has already entered the organic food segment and has plans to further diversify as per the needs of the customers.