Retail pet chain Just Dogs on Wednesday said it has raised $7 million (around Rs 53 crore) in a funding round from Sixth Sense Ventures.
The startup plans to use the fresh money to build a full-stack online experience for the pet parent and expansion of offline stores.
Founded by Ashish Anthony and Poorvi Anthony, Just Dogs provides dog foods, supplements, accessories and other pet products through its platform.
"With over 30 million pets, the Indian pet industry is just coming of age, becoming the fastest-growing pet market in the world. There has been an evolution from dog owners to a rising number of pet parents who treat pets as their children, leading to informed consumers graduating towards higher quality, premium products. This is creating a large opportunity for the company to capture", said Ashish Anthony, Founder and CEO, Just Dogs.
"Being a first mover, Just Dogs has a clear edge to create a full-stack engagement brand by leveraging on its omnichannel presence, clearly a high entry barrier in an otherwise fragmented market," said Nikhil Vora, Founder and CEO, Sixth Sense Ventures.
Sixth Sense Ventures is a domestic, consumer-focused venture fund that currently manages over $450 million across three funds. Through its third fund SSIO III it has completed 22 investments including Parag Milk, Nobel Hygiene, Fraazo, Open Secret, Stylam, among others.
Recently, it backed supply chain, warehousing and logistics focused startup Prozo.
Boutique investment banking firm Panini Advisors advised Just Dogs on the financial transaction.
