Gurgaon-based PetsGlam Services Pvt. Ltd that runs online pet supplies store Dogspot on Monday said Ratan Tata, chairman emeritus of Tata Sons Ltd has invested an undisclosed amount in his personal capacity in online pet shop Dog-Spot, along with existing investor Ronnie Screwvala. Other investors in the round include Ashok Mittal, Rishi Parti, Dheeraj Jain, partner at Redcliffe Capital, a UK-based hedge fund, and Abhijeet Pai.
Early-stage investment firm India Quotient also participated in this funding round which is also an existing investor in the startup. In 2013, DogSpot raised an undisclosed amount from early-stage investment fund India Quotient.
Over the past 12 months, Tata has backed several Indian startups, including taxi-hailing app company Ola, online marketplace Snapdeal, auto portal CarDekho.com and online furniture and lifestyle retailer Urban Ladder.
"The investment by Mr Tata is an endorsement of the long-held belief by us and our investors that the Indian pet care sector is going through a phase of huge growth and transformation," said Rana Atheya, cofounder and CEO of DogSpot.
The startup plans use the money to expand its private label product range. It currently sells biscuits, treats and grooming products under its own brand and plans to further expand the portfolio by launching variants within these categories. The company has so far raised close to $1 million in multiple rounds from angel and seed investors.
Started in 2008 by Rana Atheya, Shalesh Visen and Gaurav Malik, Dogspot.in is no.1 portal in India under pet Category, according to ComScore.
Currently, the company generates almost 150 orders a day from its portal and aims to increase it three fold in the next one year. The website sells accessories, food, toys, grooming and healthcare products for dogs, cats, birds and fish.
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