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Pet Care startup Vetic is raising Rs 224 crore or $26 million in its Series C round led by Bessemer Ventures with the participation of Lachy Groom’s firm LGF3, Acorn and JSW Ventures.
The board at Vetic has passed a special resolution to issue 34,746 Series C preference shares at an issue price of Rs 64,517.5 each to raise Rs 224 crore (approximately $26 million), its regulatory filing source from the Registrar of Companies (RoC) shows.
Bessemer Ventures will spearhead the round with Rs 152 crore, while its early backer, Lachy Groom’s firm LGF3, will invest Rs 42.7 crore. Acorn Heavy Industries, JSW Venture Capital and Reed India will inject the rest of the amount.
As per Entrackr’s estimates, the company has been valued at around Rs 960 crore or $113 million post-allotment, which is nearly 2X valuation surge when compared to its last funding round.
Vetic is a pet healthcare platform offering consultations, telehealth, vaccinations, surgeries, physiotherapy, and grooming. It claims to have served over 1 lakh pets across over 40 centers.
The Gurugram-based firm has raised over $45 million across rounds. According to the startup data intelligence platform TheKredible, prior to this round, Acorn Heavy Industries was the largest external stakeholder, followed by Bessemer Ventures.
The company is yet to disclose its financials for FY25. For the fiscal year ending March 2024, it reported a 4.75X year-on-year growth in its operating revenue to Rs 26.6 crore. Meanwhile, its losses stood at Rs 40.2 crore.
It competes with players like Supertails, which raised $15 million in a round led by RPSG Ventures in February last year, along with Wiggles, Heads Up For Tails, and others. Earlier this year, Dogsee Chew raised $8 million in its Series B round.
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