Zoivane Naturale Cosmetics Pvt Ltd, which operates pet supplies brand Zoviane Pets, has raised $100,000 (around Rs 75 lakhs) in a seed funding round from We Founder Circle, a digital-first and community-based investment platform.
The round also saw participation from Hitesh Dhawan, founder of Neuronimbus, Abhishek Gupta, CEO, APAC and Middle East of Turbotic among other angel investors.
The company said it will use a part of the fund in scaling the team and tech development. In addition to this, the start-up also aims to use the infusion on marketing and creating efforts.
Founded by Nishma Singhal and Kshitij Singhal in 2019, it offers products claims products tested by vets and have natural ingredients and are paraben-free. The brand said it is selling its product online through its website as well as on marketplaces like Amazon, Nykaa, Myntra, Meesho, Flipkart and offline.
Zoivane said it has registered more than 6 times the growth in sales since the last financial year, it said without elaborating.
“We are committed to incubate and invest in start-ups coming from tier2/3/4 cities and Zoivane is a perfect example of that. We worked with the founder for almost a year and are now funding their growth. Pet care is a fast-growing category and Zoivane has a huge opportunity in front of them,” Neeraj Tyagi, co-founder and CEO of We Founder Circle said.
Founded in 2020, Mumbai-based We Founder Circle is a global community of founders and angels that help early-stage startups. It claims to invest around $50,000- $150,000 (around Rs 37 lakh- Rs 1 crore) in early-stage startups.
It has invested as much as $1 million in 10 startups in the third quarter of 2021.
Earlier this month, We Founder Circle invested in Uthaan Technologies Pvt Ltd, which operates Microfinance.ai.
In November, We Founder Circle applied for its first fund with the Securities and Exchange Board of India (Sebi) that seeks to raise Rs 200 crore (around $27 million).
Recently, Settl raised $500,000 (Rs 3.72 crore) in a seed round while local content production platform Knocksense Media Services Pvt Ltd raised a $150,000 bridge round from We Founder Circle and other investors.
