Pet care app Wagr has raised Rs 4.2 crore in a funding round led by Inflection Point Ventures and participation from IvyCap Ventures.
The round also saw participation from Stanford Angels and Ashish Sharma (MD, Innoven Capital).
The funds will be used to expand the pet products available on their e-commerce platform and scale the scope of vet consultations and healthcare offerings for furry friends across India. The company will also be expanding their team and scaling up their customer acquisition efforts, it said in a press statement.
With the aim to provide everything a pet parent needs in a digital, personalised manner, Wagr offers several products and services such as veterinary video consultations within 15 minutes, an e-commerce store for pet products like food, treats, grooming and accessories, a pet care guide, a pet parent community, and a location and fitness tracker for dogs, it said.
Ankur Mittal, Co-Founder, Inflection Point Ventures says, “Over the years, especially post-2020, there has been a significant rise in pet parents across the country. For pet parents, the pets are like family members and hence the growth in this space is expected to mirror the exponential growth we have seen in the Mother and Child space. Wagr has anchored all the pet needs on its platform which is resulting in high stickiness of the pet parents as visible through and large number of returning customers. We see this market to continue its growth momentum, added with the D2C push in the segment.”
Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt Ltd, says, "We believe that Wagr is a perfect platform for solving all the requirements of pet parents. The credibility of the services ensures that there is an increase in the number of returning customers. Wagr has a strong team and the business model is addressing all the pinpoints."
Siddharth Darbha, Co-Founder, Wagr shares, “My Co-Founder, Advaith, are building a pet care platform that personalises products and services based on your pet’s unique characteristics and behaviours. The pet industry has been growing rapidly for over a decade, but the pandemic has brought it to the forefront. We intend to lead the way in digitising the industry and making easy, affordable and fulfilling pet care products and services available to all pet parents in India.”
The total addressable market for pet product and services is estimated to be about $1.2 billion in India growing at CAGR 28 percent, with the majority of it coming from pet products sales. India has an estimated number of 30-35 million pets.
