LUVIN, a startup producing pet food raises $300,000 in funding

• ByStartupStory     |    October 27, 2022

The family office of Possible Ventures in Gujarat, M.V. Nair, and others contributed $300K to the angel round that generated Rs 2.4 crore ($2.4 million) for the pet food company LUVIN. LUVIN claims that the cash would be used to increase its pan-India footprint, improve marketing initiatives, and diversify its portfolio.

Fabulicious, the parent company of LUVIN and founded by Ipshit and Meghna Bhattacharya, has introduced 12 items in the direct-to-consumer pet food market. In July of last year, the company launched its first product under the name “LUVIN.” Out of the 12, three are produced in Europe, with the remaining products being developed and produced internally.

Among other companies, LUVIN is in direct competition with Heads Up for Tails, Pawfect.xyz, Supertails, Wiggles, Goofy Tails, and Just Dogs. The largest player in the pet care industry, Heads up for Tails, raised the largest Series A round ($37 million) in August 2021. Goofy Tails, a company based in Delhi, recently received $500K in seed funding from BeyondSeed, The Chennai Angels, and other investors.

The Indian pet care market is anticipated to grow at a CAGR of more than 19 percent to reach Rs 5,474 crore by 2025, according to a Bonafide Research analysis.

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