In its Series C round, which is being led by Bessemer Ventures and includes participation from Lachy Groom's company LGF3, Acorn, and JSW Ventures, the pet care startup Vetic is raising Rs. 224 crore, or $26 million.
According to its regulatory filing source from the Registrar of Companies (RoC), the board of Vetic has passed a special resolution to issue 34,746 Series C preference shares at an issue price of Rs. 64,517.5 each in order to raise Rs. 224 crore, or roughly $26 million.
Bessemer Ventures will drive the round with Rs. 152 crore, while its early investor, Lachy Groom’s firm LGF3, will invest Rs. 42.7 crore. The remaining sum will be contributed by Reed India, JSW Venture Capital, and Acorn Heavy Industries.
According to Entrackr's estimations, the company's post-allotment valuation is around Rs. 960 crore, or $113 million, which represents a roughly twofold increase in valuation over its previous investment round.
Vetic is a pet healthcare portal delivering consultations, telehealth, immunizations, operations, physiotherapy, and grooming. It states that it has provided services to more than 40 centers and more than 1 lakh pets.
Over $45 million has been raised by the Gurugram-based company in several phases. Acorn Heavy Industries was the biggest external stakeholder before this round, followed by Bessemer Ventures, according to the startup data intelligence portal TheKredible.
The company has not yet released its FY25 financial results. Its operating revenue for the fiscal year that ended in March 2024 increased 4.75 times year over year to Rs. 26.6 crore. Its losses, meanwhile, were Rs. 40.2 crore.
