Dogsee Chew Secures $8 Million in Series B Funding
Natural pet treat brand Dogsee Chew has successfully raised $8 million in its Series B funding round, which was spearheaded by Ektha.com along with contributions from promoters Shivanssh Holdings and Poddar Family Office. Overall, the brand has acquired $22 million in funding to date, including this latest round. Previously, in January 2022, the startup garnered $6.7 million during its Series A funding round, which was led by Mankind Pharma, alongside the existing investor Sixth Sense Ventures.
Utilisation of Funds to Enhance Manufacturing
The newly acquired funds will be allocated towards enhancing manufacturing capabilities by expanding current factories and establishing a new production facility. Dogsee Chew is also focused on bolstering its Amazon Global Selling strategy to fuel growth within international markets, with plans to further expand into the United States and Canada by 2025.
Company Background and Product Offerings
Founded in 2015 by the husband-wife team of Bhupendra Khanal and Sneh Sharma, Dogsee Chew has established its presence in over 30 countries. The startup proudly provides 100 percent vegetarian dog treats that are entirely natural, human-grade, and rich in protein.
Meeting Growing Demand in the Pet Food Market
As Bhupendra Khanal noted, the rising premiumisation of the pet food sector has led to an exponential demand for their human-grade chews. This investment positions the company favourably to meet this surge in demand by scaling production and enhancing their global reach. To improve accessibility, there are plans to set up distribution hubs in significant international markets. This will allow retail partners to access Dogsee Chews with reduced lead times.
Financial Performance and Market Competition
According to various sources from a data intelligence platform, Dogsee Chew generated a revenue of Rs 53.76 crore in FY24, compared to Rs 98 crore in FY23. The firm reported a nearly flat loss of Rs 27.73 crore in the previous financial year. Based in Bengaluru, the startup faces competition from brands like Khanal Foods, Captain Zack, Fidele Dog Food, among others in the pet care industry.