YS Exclusive: Vet chain Dr. Paws raises Rs 7.8 crore in seed round
Sauce.vc led the round with an investment of Rs 5.2 crore. The round also saw participation from angel investors including Curefoods' Ankit Nagori, Zetwork’s Rahul Sharma, Cult.fit's Naresh Krishnaswamy, and Tracxn’s Abhishek Goyal.
Bengaluru-based veterinary clinic chain Dr. Paws has raised Rs 7.8 crore in a seed round led by Sauce.vc, with participation from angel investors, its co-founder Udit Gadkary told YourStory.
The angel investors include Curefoods founder Ankit Nagori, Zetwork co-founder Rahul Sharma, Cult.fit co-founder Naresh Krishnaswamy, and Tracxn co-founder Abhishek Goyal.
The company plans to use the funding to open more clinics and hire talent.
Sauce.vc led the round with an investment of Rs 5.2 crore. The consumer brands focused venture capital firm had earlier invested, in the pre-revenue stage, in luggage brand Mokobara, health food brand The Whole Truth, and Hocco Ice Cream.
Commenting on the veterinary clinics space, Manu Chandra, Founder and Managing Partner of Sauce.vc, said, “A lot of the current market is very doctor-dependent. It's driven by one single doctor and the entire peripheral staff is not of the same quality and their ability to expand their services to pin codes outside their main market is very limited.”
Dr. Paws aims to differentiate itself by offering an "elevated experience" for its clients, both furry and human ones.
Udit Gadkary and Rakesh Santhapur started Dr. Paws this year, after realising a dearth of specialised clinics and a one-stop shop for pet lovers. Both the founders, who are pet lovers themselves, met during their previous stint at Boston Consulting Group. They later roped in Dr Girish Kumar as the chief vet; he had an established practice and clientele in Bengaluru.
Crownvet and Vetic are the other established names in the veterinary clinics space.
Dr. Paws opened its first clinic in Indiranagar, an upscale neighbourhood in Bengaluru, two weeks ago. Another clinic is scheduled to open in early September. The veterinary clinic chain plans to have three clinics in operation this year.
Dr. Paws says it offers the expertise of established medical professionals and provides rigorous training for its staff for bedside training and grooming. Its clinic is equipped with consultation rooms; emergency response stations; facilities for blood tests, imaging and lab services; separate grooming centres for cats and dogs; and operation theatres.
Basic consultation at Dr. Paws starts at Rs 500. Its average billing is around Rs 2,000, and this includes medicines, consultation, tests, and items for pet care such as toys, snacks and accessories. These services come with a decent margin; costs are mainly driven by medical supplies and staffing, said Gadkary.
“We don't think it is going to be sustainable for us to expand with a premium pricing. After a while, you start running out of neighbourhoods that can absorb such a premium clinic,” he added.
(The copy was updated with a new feature image.)
Edited by Swetha Kannan