The startup ecosystem in India is still grappling with a decrease in venture capital inflow due to unfavourable macroeconomic conditions, deterring venture investors from allocating substantial funds to Indian startups. During the fourth week of June, the cumulative venture capital inflow in Indian startup ecosystem amounted to $98 million, distributed across 21 deals. The largest investment was a notable $60 million injected into Drools. In contrast, the previous week witnessed startups raising a higher total of $213 million. In the
/PRNewswire/ L Catterton, a leading global consumer-focused investment firm, today announced that it has invested around $60 million in Drools Pet Food.
Broiler Group-owned pet food company Drools Pet Food Pvt Ltd on Tuesday said that it has raised around $60 million (nearly Rs 490 crore) from global consumer-focused investment ..
Global consumer-focused investment firm L Catterton has invested $60m in Indian pet food company Drools. It is the firm s first entry into the Indian pet food market, which could reach $1.2bn by 2028, with a projected annual growth rate of 20%. Drools was founded in 2010 and its portfolio includes brands such as Pure Pet, Meat Up, Canine Creek, and Kitty Yum.
The funding will be used to enhance the companys existing manufacturing capabilities, meet the growing demand for high-quality pet food products, accelerate its retail plan, bolster the marketing budget, and attract top talent, per the statement.