The Bangalore-based company will use the funds to launch new range of products under the existing brand
Business tycoon-cum-serial investor Ratan Tata has invested an undisclosed amount in Indian pet care portal DogSpot.in.
Ronnie Screwvala, who led the previous round in the Bangalore-based company along with Mumbai-based early-stage fund India Quotient and serial investor K Ganesh, also joined this round along with a few new and existing investors, including Ashok Mittal, Rishi Parti, Dheeraj Jain and Abhijeet Pai.
The funds will be used to offer new range of products under the existing brand.
Launched in 2007 by the husband-wife duo of Rana and Vizal Atheya, DogSpot started out as a blog for all information and content needs for pet owners. Five years later, it launched a separate portal called FishSpot.in, which was later merged with DogSpot.in.
The company claims to have 2,000 stock keeping units (SKUs) across India.
Tata, an industrialist-turned-serial investor, has actively been investing in a range of startups in India. Till date, he has invested in over a dozen startups that include Ola, Snapdeal, Urban Ladder, CarDekho, Bluestone, Crayon Data and UrbanClap. He is also an investor in Chinese smartphone giant Xiaomi.
Recently, he joined as Advisor at Singapore-based Jungle Ventures and IDG Ventures India
The global pet care market has breached the US$100 billion mark in 2014. With over 4 million pet dogs, the Indian pet care market is is pegged at over US$1.22 billion with an annual growth rate of over 35 per cent.
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