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Security Type
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Convertible Note
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Min Investment
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$100
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Expected Close Date
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August 22, 2022
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Target Raise
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$25.00K-$310.48K
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No. Investors
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32
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Security Price
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$1
- Number of Employees
- 10
- Cash
- $226,291
- Revenue
- $166,899
- Short Term Debt
- $184,825
- Cost of Goods
- $168,670
- Long Term Debt
- $456,067
- Net Income
- $-203,657
Company Description
A pet can be a joyful addition to your family. While they may provide you with stress-relief and conversation starters, they usually require frequent care. In the U.S., caring for your pet can be as easy as shopping for pet supplies online or driving to grocery stores or pet supply stores for your pets’ needs. However, pet care in India may not always be that simple. Urban cities like Bangalore, Delhi, Mumbai, and Hyderabad rank among the densest populated cities in the world, making travel to and from stores difficult.i For nearly 30 million pets in India, accessing pet care digitally can be a viable alternative.iiPetpal was co-founded by ex-Googler and India native Sri Gorthy and fellow software entrepreneur Swetang Sharma, who are on a mission to solve the challenges that Indian pet owners face—accessibility, convenience, and quality of pet care. Petpal’s marketplace currently features over 150 products from numerous brands. Founded in 2015, the marketplace has continuously expanded its product offerings as pet ownership in India has become a rising trend,iii which has contributed to Petpal’s growth. Petpal originally rolled out its marketplace in Bangalore and Hyderabad and has since expanded to Pune and has partnered with delivery startup Dunzo to potentially reach five other cities.This capital raise is Petpal’s second round of funding after raising over $220,000 of funds through the MicroVentures platform from 2020 to early 2021. Since then, Petpal has expanded its platform to include veterinary care, which pet parents can use to book a veterinary appointment online and receive care within their own home. To facilitate this, Petpal has integrated its platform with Vetzz and Petzz, another Indian pet care marketplace, that has a network of veterinarians ready to provide pet checkups and health screens when needed.
Key Deal Facts
A pet can be a joyful addition to your family. While they may provide you with stress-relief and conversation starters, they usually require frequent care. In the U.S., caring for your pet can be as easy as shopping for pet supplies online or driving to grocery stores or pet supply stores for your pets’ needs. However, pet care in India may not always be that simple. Urban cities like Bangalore, Delhi, Mumbai, and Hyderabad rank among the densest populated cities in the world, making travel to and from stores difficult.i For nearly 30 million pets in India, accessing pet care digitally can be a viable alternative.iiPetpal was co-founded by ex-Googler and India native Sri Gorthy and fellow software entrepreneur Swetang Sharma, who are on a mission to solve the challenges that Indian pet owners face—accessibility, convenience, and quality of pet care. Petpal’s marketplace currently features over 150 products from numerous brands. Founded in 2015, the marketplace has continuously expanded its product offerings as pet ownership in India has become a rising trend,iii which has contributed to Petpal’s growth. Petpal originally rolled out its marketplace in Bangalore and Hyderabad and has since expanded to Pune and has partnered with delivery startup Dunzo to potentially reach five other cities.This capital raise is Petpal’s second round of funding after raising over $220,000 of funds through the MicroVentures platform from 2020 to early 2021. Since then, Petpal has expanded its platform to include veterinary care, which pet parents can use to book a veterinary appointment online and receive care within their own home. To facilitate this, Petpal has integrated its platform with Vetzz and Petzz, another Indian pet care marketplace, that has a network of veterinarians ready to provide pet checkups and health screens when needed.