Smylo, a direct-to-consumer Indian cat food startup founded by ex-Titan Capital executives, is in advanced discussions to secure approximately ₹30 crore ($3.2 million) in a combination of equity and debt financing aimed at expanding its product portfolio and manufacturing capabilities.
- Smylo seeks ₹30 crore funding mix, mostly equity
- Funds intended for R&D, product launches, manufacturing
- India pet care market growing at 20% CAGR through 2032
What happened
Smylo is in late-stage talks to raise approximately ₹30 crore ($3.2 million) through a round combining equity and debt, with equity expected to be the larger portion. A new venture capital firm is set to join its investor base alongside existing backer DSG Consumer Partners, which plans to top up its investment.
The fresh capital will support Smylo’s expansion plans including new product launches, enhanced research and development efforts, and the establishment of its own manufacturing facility. The startup, launched in 2024 by former Titan Capital executives Abhishek Agrawal and Kartikeya Gupta, currently sells preservative-free, high-protein cat food via its own website, ecommerce marketplaces, and quick commerce platforms.
Why it matters
Smylo’s planned funding round comes as India’s pet care market experiences robust growth driven by rising pet ownership and increased consumer spending on pet nutrition and healthcare. According to IBEF, this market segment is projected to grow at a CAGR of 20% from 2024 to reach $24.8 billion by 2032, highlighting the opportunity for startups like Smylo.
The new capital injection will enable Smylo to strengthen its product portfolio and manufacturing infrastructure, helping it compete more effectively with other players like Lickicious and Supertails. These startups have also recently raised significant funding rounds to scale operations in the pet food and pet care space, reflecting investor confidence in the sector’s long-term potential.
What to watch next
Market observers should monitor Smylo’s announcement about the formal close of this funding round, including the identity of the new venture capital investor and the final equity-to-debt ratio. How the startup deploys these funds toward research, product innovation, and manufacturing setup will also be key indicators of its growth trajectory.
Additionally, watching Smylo’s sales growth and market penetration through ecommerce and quick commerce platforms will provide insights into its competitive positioning. Given the rapid expansion expected in India’s pet nutrition segment, Smylo’s performance post-funding could serve as a bellwether for other early-stage pet care startups.