Petpooja Raises Rs 137 Crore in Series C Funding

Petpooja, a provider of restaurant point of sale (POS) and management software, has successfully secured Rs 137 crore ($15.5 million) in its Series C funding round. This investment was led by Dharana Capital, with additional participation from Ashish Gupta, co-founder of Helion Ventures, and Abhiraj Singh Bhal and Varun Khaitan, co-founders of Urban Company. This new capital injection follows a four-year hiatus for the Ahmedabad-based firm.

According to a press release from Petpooja, the funds will be allocated towards enhancing the company’s product portfolio, boosting AI-driven automation, and improving customer support. Regulatory filings with the Registrar of Companies (RoC) indicate that Dharana Capital invested Rs 82 crore, whilst Ashish Gupta contributed Rs 1 crore. The paperwork regarding the remaining funds is still pending.

Valuation Insights and Previous Funding Rounds

Startup Superb projects that the new funding round values Petpooja at approximately Rs 910 crore ($103 million), marking a 3.5X increase compared to its previous valuation. The company’s post-money valuation will be updated once the remaining funds from the current round have been dispatched.

Initially founded in 2011 as a B2B food delivery venture, Petpooja transitioned into a SaaS platform that provides cloud-based billing and management software for small and medium-sized food service businesses. The company claims to cater to over 100,000 clients across India, the UAE, and South Africa, processing around 25% of online order volumes on platforms like Zomato and Swiggy.

Funding History and Financial Performance

To date, Petpooja has raised approximately Rs 185 crore through various funding rounds, including a $4.5 million Series B round led by Aroa Ventures in 2021. Following this latest round, Dharana Capital will hold an 18.62% stake in Petpooja on a fully diluted basis. Although Petpooja’s financial results for FY25 have not yet been disclosed, the company’s revenue saw a remarkable increase of 43% to reach Rs 76 crore in FY24. During the same fiscal year, losses were narrowed to Rs 13.4 crore.