Wipro Ventures Fuels Growth in Indian Pet Food Market with Goofy Tails Investment
Wipro Consumer Care – Ventures has made its first foray into the pet-care segment with an investment in Goofy Tails, a D2C pet-food startup. This strategic move comes as India’s pet food market sees significant growth. The investment marks Wipro’s first deployment from its new Fund II.
- Country:
- India
Wipro Consumer Care – Ventures is expanding its portfolio by investing in Goofy Tails, a startup specializing in direct-to-consumer pet food. Announced Friday, this partnership represents Wipro's entrance into the pet-care sector and marks its first investment using the newly launched Fund II.
According to Wipro Consumer Care, the pet food market in India is on the rise, with projections to reach USD 1.7 billion by fiscal year 2031. The current investment round sees Goofy Tails raising over USD 1 million, pushing its total funding to USD 2 million.
The startup's co-founder, Karan Gupta, emphasized that the funds will aid in scaling operations, enhancing research and development, and innovating new products to serve the growing demands of pet parents across India.
(With inputs from agencies.)
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