Just Dogs received its first funding since founding in 2011
The startup plans to build on its offline presence while also creating a full-stack online experience for pet parents
Sixth Sense Ventures invested $7 Mn in the pet care startup
Ahmedabad-based pet care retail chain startup Just Dogs has raised $7 Mn in an unknown series funding round from Sixth Sense Ventures, as told to Inc42 by the company.
The pet-focused startup will use the fresh capital towards creating a full-stack online experience for the pet parent and for the expansion of offline stores.
Founded by the husband-wife duo Poorvi and Ashish Anthony in 2011, Just Dogs provides dog foods, supplements, accessories and other pet products through its platform.
Recently, the startup has ventured into products for cats as well, along with offering pet insurance and publishing a free pet magazine called ‘Creature Companion’.
Through its offline stores, Just Dogs also provides pet training and grooming services for pets. Here, Ashish’s expertise as a trained K9 specialist from the Police Dog Center, Holland, comes into play.
Incidentally, since its founding in 2011, the founders had bootstrapped the startup profitably, and the present transaction represents the first round of funding Just Dogs has received from an outside investor.
Ashish told Inc42 that they were advised by boutique investment bank Panini on the transaction.
In his words, “With over 30 Mn pets, the Indian pet industry is just coming of age, becoming the fastest-growing pet market in the world. There has been an evolution from dog owners to a rising number of pet parents who treat pets as their children, leading to informed consumers graduating towards higher quality, premium products. This is creating a large opportunity for the company to capture.”
Nikhil Vora, founder and CEO of Sixth Sense Ventures, said, “Being a first mover, Just Dogs has a clear edge to create a full-stack engagement brand by leveraging on its omnichannel presence, clearly a high entry barrier in an otherwise fragmented market.”
The pet care market is only going to witness growth; according to India International Pet Trade Fair (IIPTF), an average of 600,000 pets are adopted every year. Therefore, with an increasing pet population, and an increasing knowledge related to how to better care for pets, pet parents are spending more on such products.
According to a report by Mordor Intelligence, the Indian pet food market is projected to register a CAGR of 4.7% during 2022-2027. Also, per ResearchAndMarkets.com’s report, India’s pet care market is expected to grow at a value of INR 7,500 Cr by the end of 2026.
Some of the pet-focused startups in India include Wiggles, Collar Folk, Gurugram-based Doggie Dabbas, Wiggles, among others.
Recently, Sixth Sense Ventures had invested $7 Mn in Bengaluru-based natural pet food brand, Dogsee Chew, in Pre-Series A funding round. While working in similar verticals with Just Dogs, Dogsee Chew only focuses on pet food, while Just Dogs has diversified a fair bit.
