Heads Up for Tails (HUFT), a retailer of pet products, has closed its Pre-Series A funding round with $10 million (approx INR 71 crore) investment. The round was led by a group of family offices, HNI’s, and existing promoters.
The startup will be using the freshly raised funds to expand its retail as well as the ecommerce business.
HUFT was founded by Rashi Narang in 2008. The firm has grown to become synonymous with pet couture in India.
Earlier, Narang mentioned that her startup is growing at a record of 30 percent year-on-year and clocks in an average of 1,000 monthly customers.
At present, the startup operates in 28 stores across Delhi, Bengaluru, Mumbai, Pune, Chennai and Hyderabad.
It is planning to expand its network to 50 by the end of 2020. Additionally, its ecommerce business has a client base of over 3.5 lakh customers.
According to recent media reports, pet startups not only provide a bevvy of pet products and services, but they also keep their team and pet parents happy. The niche sector is now valued at $1.22 billion, with an annual growth of over 35 percent.
Some of the known startups with an animal loving factor include DogSpot, TailsLife, DoggieTheApp, Fur Ball Story and For Love of All Pets.