[Funding alert] Pet food startup Dogsee Chew raises $7M in pre-Series A from Sixth Sense Ventures
Bengaluru-based natural pet food brandon Wednesday said it raised $7 million in a pre-Series A round from Sixth Sense Ventures.
Founded by husband-wife duo Bhupendra Khanal and Sneh Sharma, Dogsee Chew produces 100 percent vegetarian hard cheese dog chews. Dogsee Chew will use the investment to expand its footprint in India and other developed markets and accelerate new product development and manufacturing.
Speaking on the investment, Nikhil Vora, CEO, Sixth Sense Ventures, said.
“Globally, petfoods is much larger than most FMCG categories like oral care and baby foods. The Indian pet food market is at a nascent stage as compared to global markets, with a potential to be 10X of its current size. Dogsee has picked a clear white space with its natural (veg) chews and pet treats as a natural replacement for hide-based chews. We like Dogsee’s approach of establishing its presence in the developed markets while tapping into the India opportunity.”
The COVID-19 pandemic boosted pet adoption, triggered by the need for companionship with limited social engagements. According to Research and Markets, the global pet treats market is expected to be worth $75 billion by 2027, and dog treats alone will account for $60 billion of the market, growing at a CAGR of about 20 percent over 2020-2027.
Dogsee Chew has 30+ SKUs and a sales volume of over 100 tonnes per month. The brand is present in 5,000+ retail stores across 30 countries and in three of the world’s top 20 retail chains. It also employs an estimated 10,000 farmers — the majority of whom are from remote hilly terrains with limited employment options.
Bhupendra Khanal and Sneh Sharma, Co-founders, Dogsee Chew, said, “We are very excited about Sixth Sense Ventures coming onboard. We look forward to leveraging their expertise in the consumer space as we work to better the quality of life for pets. Pet parents are looking for healthy food and treat options, and we are committed to delivering it with our rich expertise and research-oriented approach.”
They added, “The pet food industry presents a huge potential in India, with pet parents increasingly looking for healthy and organic dietary options. We believe that increased awareness about healthy options will only help grow the category. This investment from Sixth Sense is a validation of our work so far, and we are looking to expand and grow exponentially in the years to come.”