Gujarat Venture Finance Infuses Rs 5 Cr In Zoivane Pets


Pet grooming platform Zoivane Pets, on Tuesday said it has raised Rs 5 crore (around $6,05,063) from GVFL (formerly known as Gujarat Venture Finance) in a seed funding round.

The Surat-based startup will use the fresh funds for product development and to strengthen its workforce and marketing.

With this fundraise, Zoivane claims to have secured Rs 5.54 crore in total so far.

Founded by Nishma Singhal and Kshitij Singhal in 2019, Zoivane Pets provides products that have natural ingredients, paraben-free and are tested by vets. The brand sells its product online through its website as well as on marketplaces like Amazon, Nykaa, Myntra, Meesho, Flipkart and offline too.

GVFL launched its eighth startup-focused fund in 2016. The fund invested in 13 companies, including Frazzo, Sequretek, Pet Pooja, and Qarmatek. GVFL has so far invested in 96 companies through its nine funds.

GVFL completed the first close of its ninth fund in July, raising Rs 185 crore Meanwhile, the petcare industry has attracted venture capital funding.

Earlier this month, retail pet chain Just Dogs received a $7 million investment from Sixth Sense Ventures.

Categories: Other News

Leave a Reply Cancel reply