Home-grown, fast-growing, nutrition-focused pet care D2C company ‘Goofy Tails’ has secured seed funding of $500,000 led by BeyondSeed, a Singapore-based investor group, and The Chennai Angels, with participation from other overseas angel investors.
The company plans to use the funding to expand its portfolio of healthy pet foods and pet accessories. Goofy Tails will step up customer acquisition efforts and expand the team and warehouse presence across India for a better customer experience and faster delivery. Goofy Tails would also use the funds for extensive research, feedback, and new product development to expand its pet food and treats category.
Goofy Tails is headquartered in New Delhi and is one of the leading pet care brands that started its operations in 2019 by co-founders Karan Gupta, Kartik Gupta, Kunal Gupta, and Ashish Kaushal. The company has seen 200 percent growth across all categories of its product line and has served over 1.2 lakh + customers across Amazon, its own website, and other channels. The current Goofy Tails pet care product range consists of fresh and healthy food, interactive toys, accessories, and grooming products. Goofy Tails plans to enter other South Asian and European markets by the middle of next year.
Kartik Gupta, Co-Founder and CEO of Goofy Tails said, "We would like to thank our partners who have trusted us and helped us raise this amount. We will be using the funds to acquire customers for a lifetime, engage pet parents with good quality content, provide a seamless platform experience for shoppers, and expand our product development to solve challenges that Indian pet parents are facing."
Karan Gupta, Co-Founder of Goofy Tails, a pet coach and nutritionist who has been a part of the pet care world for over a decade, stated, "Unbalanced home food and kibble are one of the prime causes of obesity, diabetes, and poor gut health in our pets. Goofy Tails aims to solve this problem with a complete and proprietary range of preservative-free food and treats."
Kuldeep Mirani, Co-Founder and CEO of BeyondSeed Venture Solutions, Singapore asserted, "We are very excited to be foraying into the "pet category" with our investment in Goofy Tails as we see huge potential and promise in this sector. The Goofy Tails team is passionate and hyper-focused on offering high-quality, vet-approved, nutritious pet food that improves the overall health of pets, a welcome change for all concerned pet parents. We believe that Goofy Tails is well-positioned to be a market leader in the "nutrition-focused pet food" category."
Murugan N, CEO, Southern Health Foods Pvt. Ltd. added, " The founders, being pet parents themselves, have strong expertise in pet foods and nutrition." The company has recently expanded across borders, helping thousands of pet parents access affordable, high-quality pet products. We are extremely happy to take Goofy Tails on as a TCA portfolio company and are eager to see them grow and reach great heights in the coming years."
Mumbai-based Pareto Capital, a consumer-focused and research-driven investment banking firm, acted as the financial and strategic advisor to the company.