The start-up intends to utilise the funds on product development, increasing its workforce and marketing activities
Zoivane Pets, a Gujarat-based pet training and grooming brand, has raised Rs 5 crore in a seed funding round led by GVFL Limited. With this development, the start-up’s total funding has reached Rs. 5.54 crore to date.
The company is backed by We Founder Circle and angel investors including Hitesh Dhawan, founder of Neuronimbus Dhrumil Patel, Joy Gnanamony and Abhishek Gupta, Turbotic's CEO of APAC and Middle East.
Zoivane Pets intends to utilise the funds primarily on product development, increasing the quality of the workforce and marketing its various product lines to spread knowledge about them.
According to a company statement, Zoivane is present at more than 500 retail stores in 25 states and more than 300 cities and it has sold more than 50,000 units of products till date.
On raising the fund Nishma Singhal, co-founder of Zoivane Pets, said, “We were able to introduce products that filled gaps in the market and created new categories. By integrating our industry expertise, we seek to become a permanent part of people's lives as pet parenting partners.”
Addressing their decision to invest in Zoivane Pets, Mihir Joshi, President of GVFL said, “This was in line with its strategy of investing in start-ups that continuously innovate through research and development and Zoivane Pets is a perfect example of that. Zoivane Pet is an emerging brand that has launched several innovative products in an affordable range for Pet care and we envision penetrating the market together.