Petpal

Petpal

Pet e-commerce and veterinarian platform in India, with nearly $1 million GMV transacted since inception

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Security Type
Convertible Note
Min Investment
$100
Location
LOS ALTOS, CA
Expected Close Date
August 22, 2022
Target Raise
$25.00K-$310.48K
No. Investors
32
Security Price
$1
Website
petpal.in
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.
Amount Raised : $8,560
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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