Description
PetSutra is a platform for everything the pet needs. The team uses their data smartly to guide the community of pet parents to purchase products apt for their pet while creating a social impact. Smart targeting based on predicted needs of the pet and understanding the ability of various pet parents to spend is what brings back the Pet Parents to shop from PetSutra.
The fragmented retail landscape of small store sizes, poor assortment (lack of shelf space), operated by less informed personnel, low focus on category creation, and lower buying clout; is just not able to offer the right mix of products and services to pet parents.
PetSutra is getting 50%+ monthly revenue from repeat customers and an AOV of INR 2100. The company has clocked in INR 8.4 cr in FY20-21 and currently doing an MRR of 70 lakhs. They have engaged 53000+ registered users with blended gross margins of ~40% & 27,000+ pet profiles.
Significant trends in Pet Care in India are pointing towards a market all set to boom. They see a significant opportunity in carving out a category-killer, NYKAA moment in the pet industry. They aim to build a “CHEWY in India”.
Details of the round
The company is looking to raise 4.5 Cr at a Pre-money Valuation of Rs. 30 Cr.
The company has already received a commitment for ~70% of the funds from existing micro-VC and new individual investors.
They are looking to raise 1 Cr from Lead Angels Network to close the round at the same Pre-Money valuation.
The minimum commitment to the company is INR 5 Lakhs. In case commitments exceed the ask amount, allotment will be on the “First Come, First Serve” basis.
