BackPet care startup Vetic raises $3.7 million in seed round
The capital will be used by Vetic towards further bolstering technology, establishing state-of-the-art medical infrastructure, as well as the geographical expansion of its clinic network
PremiumVetic, a tech-enabled chain of pet clinics, has raised $3.7 million in a seed funding round led by angel investor Lachy Groom.
The round also saw participation from other angel investors including Utsav Somani, partner, AngelList India; Nitin Saluja, founder of Chaayos, Ritesh Agarwal and Abhinav Sinha, Maninder Gulati of Oyo; Shiva Singh Sangwan, founder of 1947 Rise, Revant Bhate, CEO of Mosaic Wellness, among others.
Started in August 2022 by Gaurav Ajmera, the company said it will provide pets with medical care, and convenience to pet parents for all other pet care needs like nutrition, wellness etc.
The capital will be used by the company towards further bolstering technology, establishing state-of-the-art medical infrastructure, as well as the geographical expansion of its clinic network across Delhi NCR and Bangalore regions. The company has four clinics in Gurgaon and plans to scale to 15 clinics across Delhi NCR and Bangalore regions by June 2023. Ajmera said, “Pet adoption in India is increasing at a fast rate, however, pet health care remains the biggest challenge for pet parents. The current pet healthcare ecosystem is plagued with subpar clinical and medical infrastructure with minimal technology adoption. Vetic believes that every pet should have access to the best medical care. We aim to deliver this through our network of tech-enabled modern pet clinics equipped with the latest medical infrastructure and experienced veterinary doctors. The latest round of funding will allow us to invest in building consumer-facing technological platforms and cutting-edge medical facilities."
Lachy Groom added, “Pet healthcare is going to experience the same disruption that personal healthcare has experienced over the last few decades. I believe Ajmera and the team will redefine the pet experience and build the leading pet healthcare brand in India."
According to a report by Euromonitor, India’s overall dog food market is projected to rise at a 15% current value CAGR in the next five years.
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