[Funding alert] Heads Up For Tails raises $37M in Series A led by Verlinvest and Sequoia Capital India
Heads Up For Tails (HUFT), a pet care company, announced its $37 million (Rs 277 crore) Series A round of funding on Thursday. Verlinvest and Sequoia Capital India led the investment round, with participation from Amitell Capital and existing investor, W&C PetTech.
The investment will help HUFT increase its distribution footprint across India and accelerate new product development and manufacturing. The company, through educational content and marketing endeavours, also aims to increase awareness among existing and new pet parents on the need for pet wellness and care.
Rashi Sanon, Founder, said, “At HUFT, we believe pets are family. And family deserves only the best. Pets are at the heart of everything we do, and all our offerings are a celebration of who they are and our relationship with them. Every single day we work toward and in tandem with our vision statement - ‘For every home to experience the joys of raising pets as family’.”
“We aim to create products and educational material for all the needs of pets at every stage of their life. We will continue to become a permanent part of people’s lives as pet parenting partners by leveraging on our in house expertise and experience of over 12 years of working with dogs and cats,” she added.
Founded in 2008 by Rashi Sanon, Heads Up For Tails is a labour of love inspired by Rashi’s own journey as a pet parent to Sara. Unable to find high-quality products in the Indian market, Rashi decided to make the products herself, leading to the inception of Heads Up For Tails. Over the years, the company has introduced over 100+ products that provide solutions to pet care problems and help pets lead their best possible lives. Their products range from human grade, preservative-free treats to novelty items like orthopaedic beds and organic supplements.
HUFT, which has a current team strength of 350 across functions such as marketing, product, brand, tech and manufacturing, aims to increase their employee count to 450 (by the end of 2021) by onboarding outstanding talent aligned with their values and goals.
The company also plans to introduce a line of fresh pet food across the country, as well as expand their portfolio of 10 exclusive international brands such as Pet head, Isle of Dog and Wild Earth that they currently represent in the country.
“India’s pet care market is valued at about $600 million, growing at over 20 percent 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 supply for quality products gets unlocked. We believe Heads Up For Tails has the opportunity to become the destination for all things pet care with a focus not just on commerce, but also curation, content and consultation,” said Sakshi Chopra, Managing Director, Sequoia India.
The company has a vast distribution network across Delhi/NCR, Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Lucknow and Ludhiana. It also has manufacturing and R&D setups in Delhi and Bengaluru.
“Heads up for tails has great momentum to delight its fast-growing community of furry consumers and we would love to support the growth of the company for several years to come,” added Arjun Anand, Executive Director, Verlinvest.