Smylo is in advanced talks to raise around ₹30 Cr through a mix of equity and debt, with equity expected to account for the majority.
The startup is likely to use the fresh capital for new product launches, research and development, and setting up a manufacturing facility.
The proposed round is expected to bring a new venture capital firm onto Smylo’s cap table, alongside further investment from existing backer DSG Consumer Partners.
D2C cat food startup Smylo
is in advanced talks to raise around ₹30 Cr (about $3.2 Mn) in a mix of equity and debt, sources told Inc42.
The proposed round is likely to bring a new venture capital firm onto Smylo’s cap table, with existing backer DSG Consumer Partners also looking to invest further, the sources added.
While the split between equity and debt could not be ascertained, the sources said equity would account for the majority of the round.
Smylo is likely to use the fresh capital for new product launches, R&D, and setting up a manufacturing facility.
Inc42 has reached out to Smylo for comment. The story will be updated on receiving a response.
Founded in 2024 by former Titan Capital executives Abhishek Agrawal and Kartikeya Gupta, Smylo offers cat food that it claims is preservative-free, high in protein, and made from fresh meat.
Its portfolio includes wet food, dry food, and broths for kittens and adult cats. Besides its website, the startup sells through ecommerce marketplaces and quick commerce platforms such as Blinkit and Zepto.
In an interaction with Inc42 in February, the founders said Smylo was clocking average monthly sales of ₹50–55 Lakh. Its website and ecommerce channels contributed about 80% of revenue, with quick commerce accounting for the remainder.
At the time, the startup had raised smaller rounds before securing investment during its appearance on Shark Tank India in early 2026. However, the startup did not disclose the total funding raised.
The development comes amid continued investment in India’s pet care market, with startups across food, supplies, and healthcare raising capital to expand their operations.
In September, D2C pet food startup Lickicious raised ₹19 Cr through a mix of equity and debt in a round led by Prath Ventures. It planned to use the capital to expand manufacturing, strengthen R&D, and widen its product range and sales channels.
Pet care marketplace Supertails raised $30 Mn in a Series C round in February to expand its pet clinic network and quick commerce infrastructure.
Investor interest is being driven by India’s growing pet care market, with rising pet ownership and higher spending on pet nutrition and healthcare.
India’s pet care market is estimated to be worth $3.6 Bn in 2024 and is projected to grow at a CAGR of 20% to reach $24.8 Bn by 2032, according to IBEF.
Source: Inc42
