India: Luxury pet products brand Heads Up For Tails raises $2m from HNIs

Heads Up For Tails, a retailer of pet products, has raised $2 million in a pre-series-A round from a group of high networth individuals (HNIs), the company said in a statement on Monday.

“This fresh round of funding comes as a huge milestone for the brand and we look forward to using it to further enhance the end-user experience by investing in technology,” said the founder of Heads Up For Tails, Rashi Sanon Narang, in the statement.

Moreover, the company plans to use the funding for expanding business in both domestic and overseas markets. The company also plans to open more retail stores.

Owned and operated by Precious Pet Services Pvt. Ltd., Heads Up For Tails was founded by Narang in 2008. The brand sells grooming products for cats and dogs, in addition to pet food, apparel, toys and accessories. It claims to have more than 100,000 active customers.

Based on an omni-channel strategy, the company sells through its website as well as operates offline retail stores. The company also sells overseas in Singapore and the US.

Heads Up For Tails had earlier raised $1 million in seed funding from a group of unnamed investors, VCCircle had reported in February 2016.

The company competes with DogSpot, owned by PetsGlam Services Pvt. Ltd. Backed by Dheeraj Jain, partner at Redcliffe Capital, Ronnie Screwvala, K. Ganesh and early-stage investment firm India Quotient, DogSpot had most recently raised an undisclosed amount of funding from Ratan Tata, chairman emeritus of Tata Sons Ltd, in January 2016.

The pet food market in India is likely to cross $270 million by 2019 on account of an increasing number of nuclear families, particularly in urban areas, and rising per capita disposable income, according to a report by research firm TechSci Research.

Also Read:

India: Luxury pet products brand Heads Up For Tails raises seed funding

Ratan Tata, others invest in Indian online pet care shop DogSpot

This article was first published on Livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.