Vetic: A Leading Player in the Pet Care Industry

Vetic is a prominent pet care startup that secured $26 million in a Series C funding round with Bessemer Venture Partners taking the lead last year. This funding comes following impressive growth metrics in Fiscal Year 2025.

Impressive Revenue Growth

In FY25, Vetic achieved a remarkable 2.5X increase in its revenue from operations, soaring to Rs 62.9 crore from Rs 25.5 crore in FY24, as reported in its consolidated financial statements submitted to the Registrar of Companies (RoC).

About Vetic

Established in 2022 by Gaurav Ajmera, Vetic serves as a comprehensive pet healthcare platform providing a range of services, including consultations, telehealth, vaccinations, surgeries, physiotherapy, and grooming. The platform has successfully catered to over 1 lakh pets across more than 40 centres in cities such as Delhi NCR, Mumbai, Bengaluru, and Chennai.

Revenue Breakdown

Sales from traded pet food and accessories made up over 46% of Vetic’s total earnings, amounting to Rs 29.3 crore in FY25. Additionally, pet care services like vaccinations, consultations, and grooming contributed over 53% to the revenue, generating Rs 33.6 crore.

Expense Analysis

Vetic’s largest expense in FY25 was employee benefits, which increased by 40% to Rs 30.8 crore, reflecting a significant investment in human resources. This figure includes Rs 7 crore allocated for ESOP expenses, classified as non-cash. The cost of materials represented another substantial expenditure totaling Rs 28.4 crore. Professional expenses, which encompass payments to veterinarians for service provision, amounted to Rs 25.3 crore. Marketing expenses also saw a significant rise, more than doubling to Rs 13.2 crore in the last fiscal year.

Financial Performance

The escalation in total expenses outpaced revenue growth, leading to a 63% increase in losses, which reached Rs 65.6 crore, compared to Rs 40.2 crore in FY24. On a unit-level basis, Vetic incurred Rs 2.1 for every rupee of operational revenue in FY25. The company recorded a Return on Capital Employed (ROCE) of -86.25% and an EBITDA margin of -98.89%.

Current Assets

As of March 2025, Vetic, backed by Bessemer Venture Partners, reported current assets amounting to Rs 54.7 crore, with cash and bank balances totalling Rs 10.5 crore.

Funding Success

In total, Vetic has raised over $45 million through various funding rounds, kicking off with a $3.7 million seed round in November 2022 that was led by Lachy Groom.

Market Competition

Vetic faces competition from companies like Supertails, which reported a 68% uptick in revenue, reaching Rs 108 crore in FY25, while also incurring a loss of Rs 52.5 crore.