Petcare brand Wiggles plans to raise $15-20 million in funding
Wiggles, a pet-care startup aims to raise $15-20 million in the coming months through some new and their current investors, the company said it will use the funding as part of expansion to scale and grow their product portfolio to meet the needs of pets and parents. It plans to expand its offline footprint across India in the near future.
Previously, the company has raised a total of $6.5 million in funding over 2 rounds. It has been funded by 16 investors including Abhay Amrute and Panthera Peak Ventures in their most recent seed funding round. On growth plans, Anushka Iyer, Founder and CEO of the company said, "We plan to continue expanding our pet food category through innovative formats, formulations and products that solve for real pet & pet parent problems."
She added, the company's expansion plans are designed to fit this vision - through the category creating products, curated services & a growing community of pet parents. The pet food market in India is projected to grow at 13-14 per cent CAGR. With the growing awareness amongst pet parents, the demand for high quality food at a good price point is on the rise. Further, an increasing number of millennials & Gen Z are bringing pets home.
In India, the pet food market is currently estimated at Rs 2500 crore with close to 80 per cent of the market dominated by dog food. However, the majority of Indians still rely on home-cooked meals for their pets.
The startup aims to build a complete pet care ecosystem that pet parents can depend on from the day they bring a pet home all the way till the pet is there with them. Wiggles recently launched a dog food range EveryDawg to provide the right nutrition. In its other product range, it also has wet food for both cats & dogs.
Currently, the brand is present across pet shops and veterinary clinics across the country and looks to strengthen this presence with entry into general and modern trade. It recently launched products in Metro, Lulu, Kwality, and a number of other modern trade(MT) stores.
Previously, the company has raised a total of $6.5 million in funding over 2 rounds. It has been funded by 16 investors including Abhay Amrute and Panthera Peak Ventures in their most recent seed funding round. On growth plans, Anushka Iyer, Founder and CEO of the company said, "We plan to continue expanding our pet food category through innovative formats, formulations and products that solve for real pet & pet parent problems."
She added, the company's expansion plans are designed to fit this vision - through the category creating products, curated services & a growing community of pet parents. The pet food market in India is projected to grow at 13-14 per cent CAGR. With the growing awareness amongst pet parents, the demand for high quality food at a good price point is on the rise. Further, an increasing number of millennials & Gen Z are bringing pets home.
In India, the pet food market is currently estimated at Rs 2500 crore with close to 80 per cent of the market dominated by dog food. However, the majority of Indians still rely on home-cooked meals for their pets.
The startup aims to build a complete pet care ecosystem that pet parents can depend on from the day they bring a pet home all the way till the pet is there with them. Wiggles recently launched a dog food range EveryDawg to provide the right nutrition. In its other product range, it also has wet food for both cats & dogs.
Currently, the brand is present across pet shops and veterinary clinics across the country and looks to strengthen this presence with entry into general and modern trade. It recently launched products in Metro, Lulu, Kwality, and a number of other modern trade(MT) stores.