Bengaluru-based pet care super-app Wagr.ai today announced it has raised Rs 4.2 crore in a funding round led by Inflection Point Ventures, along with the participation from IvyCap Ventures. The round also saw participation from Stanford Angels and Ashish Sharma (MD, Innoven Capital).
Founded in 2016 by Siddharth Darbha and Advaith Mohan, Wagr says it offers several products and services such as veterinary video consultations within 15 minutes. The startup also operates an e-commerce platform where it sells pet products like food, treats, grooming, and accessories, a pet care guide, a pet parent community, and a location & fitness tracker for dogs.
“My co-founder, Advaith, and I believe that selflessly caring for others brings out the very best in our nature. And when we make the decision to be a good pet parent, we are deciding to be a truly good human being. But we know that the journey is not so easy. It can be as tough and as rewarding as raising a child,” Siddharth Darbha, Co-Founder, Wagr said.
Previously, Wagr has also launched India’s 1st dog GPS and fitness tracker for which they have won multiple awards, the statement said. The startup claims to have 15,000+ users and has completed 3,500+ vet teleconsultations.
With this round of funding, Wagr.ai aims to expand its product offerings on its ecommerce platform and scale the scope of vet consultations and healthcare offerings for furry friends across the country. Apart from this, It will also focus on expanding the team and scaling up its customer acquisition efforts.
“We at Wagr want you to be the best possible pet parent you can be, and help you keep your pet safe, fit, healthy, and happy. Keeping that as our goal, we are building a pet care platform that personalises products and services based on your pet’s unique characteristics and behaviours,” Siddharth said.
He further said 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,” he adds.
Speaking on the investment, Ankur Mittal, Co-Founder, Inflection Point Ventures said, “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 & 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, said, “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. Hence, we will strongly support the team at Wagr.”
According to the company’s statement, The total addressable market for pet products and services is estimated to be about $1.2 billion in India growing at CAGR 28%, with the majority of it coming from pet products sales. India has an estimated number of 30-35 million pets.
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