Heads Up For Tails Secures $25 Million in Series B Funding
Heads Up For Tails, a premium pet care startup, is nearing the completion of its $25 million Series B funding round, as indicated by two individuals familiar with the situation. The funding is led by Nilesh Ved, who is the founder and chairman of Apparel Group India (AGI). This group is the Indian division of the Dubai-based retail giant, Apparel Group, and includes investment from Malinea Pte Care Limited, as noted by one source who wished to remain unnamed.
The specifics of the deal have been agreed upon, and the funds are expected to be transferred in the coming weeks. Currently, Heads Up For Tails has achieved an annual recurring revenue (ARR) of Rs 400 crore.
Samarth Narang, the CEO of Heads Up For Tails, has chosen not to comment further on this fundraising effort. This marks the company’s third significant expansion in Asia, following its ventures into Singapore and its primary market, India.
Heads Up For Tails is known as a premium direct-to-consumer (D2C) pet care brand, providing a range of products including food, treats, accessories, and grooming essentials. The company markets its offerings through its own website and various online platforms, along with a growing offline presence. The brand boasts over 13,000 products sourced from more than 250 brands and has established a foothold in over 18 cities, operating 115 stores and 95 pet spas.
According to insights from various startup intelligence platforms, the Gurugram-based company has successfully raised approximately $40 million before this funding round. This includes a noteworthy $37 million in a Series A round led by Peak XV Partners, formerly known as Sequoia Capital India, along with Verlinvest back in 2021.
The latest funding round highlights the increasing interest from investors in India’s pet care sector, which encompasses food, services, and healthcare. For instance, Vetic, a pet healthcare platform based in Gurugram, recently secured around $26 million in a Series C funding round led by Bessemer Venture Partners. Simultaneously, Supertails from Bengaluru is currently negotiating to raise between $15-20 million. Additionally, the nutrition brand Drools has achieved unicorn status after a minority stake acquisition by the global FMCG leader Nestlé.