Startup News Magazine

Sploot raises INR 5.2 crore

Sploot was founded in 2020 by Akshay Jagtap and Pranav Maheshwari.

New Delhi: Petcare startup Sploot has recently announced that it has raised Rs 5.2 crore in a funding round led by Info Edge, a prominent investor in the Indian startup ecosystem. The funds raised will be used to expand Sploot’s operations, and further develop its platform.

Sploot was founded in 2020 by Akshay Jagtap and Pranav Maheshwari, both graduates of the Indian Institute of Technology (IIT) Bombay. The startup aims to provide comprehensive petcare services to pet owners, including veterinary consultation, grooming, and boarding facilities. Sploot also offers an online marketplace for pet products and accessories.

The petcare industry in India is growing rapidly, with increasing pet ownership and rising disposable incomes. However, few organized players are in the market, and unorganized local vendors still provide most petcare services. Sploot aims to fill this gap by providing a one-stop solution for all petcare needs.

The funding round was led by Info Edge, which has a long history of investing in successful startups such as Zomato, PolicyBazaar, and Info Edge’s investment in Sploot is a testament to the startup’s potential and the growing demand for petcare services in India.

Commenting on the funding, Akshay Jagtap, Co-founder of Sploot, said, “We are thrilled to have Info Edge as our lead investor. Their extensive experience in building and scaling successful startups will be invaluable to us as we grow our business. We are committed to providing the best possible care for pets and their owners, and this investment will help us achieve that goal.”

With the funding, Sploot plans to expand its operations in major cities across India, including Delhi, Mumbai, and Bangalore. The startup also plans to invest in technology to improve its platform and provide a seamless experience for pet owners.

Overall, the investment in Sploot is a positive sign for the Indian startup ecosystem and the petcare industry in particular. With the support of investors like Info Edge, Sploot and other petcare startups have the potential to revolutionize the way pets are cared for in India.