In a Series B fundraising round headed by Ektha.com, Bengaluru-based pet food company Dogsee Chew has raised $8 million (INR 69.4 crore), with participation from Shivanssh Holdings and the Poddar Family office. The money will be used by the manufacturer of natural pet treats to increase production capacity and strengthen its position in global markets, especially in the US and Canada. Dogsee Chew, which was founded in 2015 by Bhupendra Khanal and Sneh Sharma, makes vegetarian snacks using Himalayan cheese. In a statement, Sharma stated that the brand’s objective is to become the world’s largest manufacturer of Himalayan chews with the assistance of this funding. The business had previously raised $7 million in November 2021, led by Sixth Sense Ventures, and INR 50 Cr in January 2022 from Mankind Pharma and Sixth Sense Ventures. “Our human-grade chews are in high demand. By increasing production and our global footprint, this investment guarantees that we are ready to satisfy this demand,” Khanal said in the release.
Expansion Plan
The company wants to establish distribution centres in strategic international markets, and now it operates in more than 30 countries. Additionally, it will concentrate on fortifying its Amazon Global Selling approach.
Dogsee has established a strong worldwide brand in the natural pet food industry, according to Sreenivasa Musani Reddy, managing director at Ektha. Investors think that by expanding, they will maintain their market dominance. Dogsee Chew, which began with just seven products in 2015, is currently the fourth-largest pet food exporter in India.
Dogsee Chew’s revenue in FY24 was INR 53.76 crore, up from INR 98 crore in FY23, according to data analytics platform TheKredible. In the most recent fiscal year, the company reported a nearly flat loss of INR 27.73 crore.
Global Pet Food Market
Fortune Business Insights, a market research company based in Pune, estimates that the size of the worldwide pet food market was USD 126.66 billion in 2024. The market is anticipated to expand at a compound annual growth rate (CAGR) of 5.52% from USD 132.92 billion in 2025 to USD 193.65 billion by 2032.In 2024, North America held a 40.6% market share, dominating the pet food industry. Furthermore, due to the increasing rate of pet ownership and the growing trend of pet humanisation, the pet food industry in the United States is expected to increase dramatically, reaching an estimated value of USD 59.76 billion by 2032.
The global market offers pet food items in a variety of forms, including snack treats, wet foods, and dry foods. These goods may come from plants or animals. These products are sold through a variety of distribution channels, including speciality shops, internet platforms, hypermarkets, and supermarkets. The industry has grown significantly in recent years due to the growing number of pets worldwide. Along with the growing humanisation of pets, the market is anticipated to rise rapidly over the course of the projected period.
According to a report by Decipher, the profound connection that people in India have with their furry friends is evident in the incredible evolution of the pet industry in the country. Approximately 32 million people in India own pets, and that number is growing at a rate of 11 percent per year. In response to this uptick in pet ownership, seventy new pet care businesses have sprung up in only two years. Investor interest in the pet care industry is on the rise, mirroring the rising spending on pet supplies and services. Venture Intelligence said that the industry received 77 million dollars in investments from 2021 and 2022. Among the most notable developments is the record-breaking $60 million investment in Drools by L Catterton, a major participant in the worldwide pet food investment industry.
The Indian Pet Market Joint Advisory Council (IPICA) recently predicted that the pet market in India had expanded approximately at a CAGR of 20% from 2016 to 2018. The current valuation of the industry is approximately Rs. 8,000 crores, with projections showing a growth to Rs. 20,000 crores by 2025. When put in context with the industry’s valuation of 1,200 crores only ten years ago, this is a very impressive growth rate.
Having more and more people in the country own pets is a major factor fueling this expansion. Euromonitor International estimates that there are currently roughly 19 million pets in India, with a projected 9% compound annual growth rate (CAGR) over the next five years. About 65% of pet owners in India are in the 20- to 40-year-old age bracket, according to the report.
Changing lifestyles and increasing disposable wealth are also driving the pet market in India. Pet supplies and services are seeing a surge in demand as the number of households headed by a single breadwinner increases and the number of people opting to keep pets as pets grows in popularity. The demand for high-quality pet supplies and services has grown in tandem with the growing awareness of the importance of pet health and wellness among pet owners.
Approximately 70% of India’s pet industry revenue comes from the pet food segment, making it one of the country’s most important economic drivers. More and more pet owners are seeking out premium pet food options that address their pets’ unique dietary requirements, taking into account factors like breed, age, and health status. Natural and organic pet food products have also been on the rise in recent years, as more and more pet owners seek options that don’t contain any artificial ingredients, flavors, or preservatives.
Size of the Pet Population Across India From 2006 to 2021, With Estimates Until 2026
Revolutionising India’s Petcare Industry: The Role of Startups
Like many other sectors, this sector is also attracting many startups to take its growth to the next level. Throughout the country, new businesses are making waves in the animal welfare industry. In addition to utilizing state-of-the-art technology to offer pet owners unmatched help, these firms are transforming conventional pet care techniques.
Some of the dominant startups in this sector such as Heads Up for Tails, and Pawfect.xyz, Wiggles, Just Dogs, etc. are making waves through their user-friendly solutions for pet owners.
The availability of trustworthy and reasonably priced technology is also contributing to the rise in popularity of the Internet of Things (IoT) in India. Pet tracking systems that are both affordable and easy to use are currently sold by a plethora of companies. A pet’s whereabouts, health, and activity levels can all be tracked with one of these gadgets. Another tech solution that is making waves in the pet care industry is cloud computing. With the help of this module, pet owners can store and share their pet’s data.
To better understand the requirements of their pets, pet owners, veterinarians, and others in the pet care industry can access this data. Another benefit of cloud computing is that it gives pet owners remote access to their pet’s data. This way, they can monitor their health and safety status even when they’re not there. Pet care startups are also leveraging the Internet of Things to create a more interconnected experience for pets. Internet of Things (IoT) gadgets, including tracking collars and smart feeders, allow pet owners to keep tabs on their pets’ whereabouts and activity, as well as give them the food and water they need. Pet owners can use this to keep in touch with their pets even when they’re not around. The pet care industry is utilizing blockchain technology to increase trust and transparency. Using this technology, pet owners can have greater control over the data stored securely and access it whenever they need it. This can guarantee that their pet’s information is not misused and provide them access to better services.
These changes are occurring at a dizzying rate, and the pet business is preparing for a nationwide explosion. Based on Drools’s projections, this industry is expected to reach $1.2 billion by 2028, rising at a rate of about 20% each year. Emerging patterns indicate plenty of space for expansion in both homes and hearts, even though pet ownership is still relatively low with only 10% of Indian households having a pet.
FAQs
How much revenue does the pet food segment contribute to the pet care industry?
Approximately 70% of India’s pet industry revenue comes from the pet food segment, making it one of the country’s most important economic drivers.
What are the latest technologies being used by the pet care industry?
The latest technologies used by the pet care industry include the Internet of Things (IoT), Blockchain Technology, and Cloud Computing.
What are the best pet care startups?
Heads Up for Tails, and Pawfect.xyz, Wiggles, and Just Dogs are a few top pet care startups.
Nitin Konde
