Total amount raised
$1.3 Millions
Latest funding date
9/1/2023
Location
Sploot has successfully raised $800,000 in a Seed round on September 4, 2023, with backing from seven investors, including Info Edge and Redstart Labs. The platform is dedicated to enhancing pet parenting by offering a community-led approach, fresh food, and dog walking services.
Keep reading to explore the intricacies of Sploot's fundraising journey and the investors backing this innovative platform.
What Is Sploot?
Sploot, founded on August 8, 2019, in Gurgaon, Haryana, India, is a community-led platform aimed at enhancing pet parenting. The company was established by Arnav Sahni and Garima Kaushal.
Sploot focuses on providing pet parents with the right knowledge, support system, and access to products and services. They offer fresh food and dog walking services in Delhi-NCR.
With a team of 11-50 employees, Sploot is dedicated to creating happier and healthier lives for pets through its innovative approach.
How Much Funding Has Sploot Raised?
- Amount Raised: $500,000
- Date: May 2022
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the app.
- Amount Raised: $800,000
- Date: September 2023
- Lead Investors: Redstart Labs and angel investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand services such as dog walking, grooming, and ready-to-feed dog food, and to embark on territorial expansion.
Total amount raised: $1,300,000. Current valuation: Not publicly disclosed.
Key Investors
- Info Edge (via Redstart Labs)
- Details: Info Edge is a major internet company in India, known for its investments in various tech startups. Redstart Labs is a subsidiary of Info Edge, focusing on early-stage investments.
- Investment Focus Areas: Technology, internet-based businesses, startups.
- Notable Investments: Zomato, PolicyBazaar, Naukri.com.
- Akshay Chaturvedi
- Details: Akshay Chaturvedi is the founder and CEO of LeverageEdu and Fly. He is an active angel investor with a focus on education technology.
- Investment Focus Areas: Education technology, youth-oriented platforms.
- Notable Investments: LeverageEdu, Fly.
- Yatish Talvadia
- Details: Yatish Talvadia is a serial entrepreneur and angel investor. He has a general focus on startups with innovative solutions.
- Investment Focus Areas: Startups, innovative solutions.
- Notable Investments: Not specifically mentioned.
- Sanjay Singh
- Details: Sanjay Singh is a former member of PayTM and an active angel investor. He likely focuses on fintech and tech startups.
- Investment Focus Areas: Fintech, technology startups.
- Notable Investments: Not specifically mentioned.
- Mukul
- Details: Mukul is an angel investor and former member of Adobe. He participates in investments via GripInvest.
- Investment Focus Areas: Technology, software startups.
- Notable Investments: Not specifically mentioned.
What's Next for Sploot?
Sploot is poised to capitalize on the burgeoning pet care market in India, valued at over USD 500 million and growing at 20% annually. With plans to expand services like dog walking, grooming, and ready-to-feed dog food, the company aims to penetrate new regions and enhance its community-led platform. This expansion could significantly increase their market share and user base.
Future fundraising opportunities appear promising, given the rapid market growth and increasing demand for comprehensive pet care solutions. Sploot's successful seed rounds and backing from prominent investors like Info Edge suggest potential for further investment rounds to support their ambitious expansion plans.
However, challenges such as competition from other pet care providers, maintaining service quality, and managing logistics could pose hurdles. Navigating these challenges will be crucial for Sploot as they scale operations and strive to meet the evolving needs of pet parents.
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