Gurugram-based cat food startup Smylo is in advanced discussions to raise approximately ₹30 crore through a combination of equity and debt, according to an exclusive report by Inc42. Equity is expected to account for the majority of the proposed round. The funding could bring a new venture capital firm onto the company’s cap table, while existing investor DSG Consumer Partners is also expected to participate.
The startup plans to use the proposed capital to launch new products, invest in research and development, and establish a manufacturing facility. The development comes as India’s pet food industry attracts growing investor attention, with companies competing to serve consumers who are increasingly spending on specialised nutrition for their pets. However, Smylo’s proposed funding round has not yet been publicly confirmed by the company.
Key Takeaways
- Proposed fundraise: Smylo is reportedly in advanced talks to raise around ₹30 crore, or approximately $3.2 million.
- Funding structure: The round is expected to combine equity and debt, with equity forming the larger portion.
- Investors: Existing backer DSG Consumer Partners is considering further investment, alongside a potential new venture capital investor.
- Use of funds: New product launches, research and development, and a manufacturing facility.
- Business traction: Smylo reported average monthly sales of ₹50–55 lakh in an earlier interaction with Inc42.
- Distribution: The company sells through its website, ecommerce marketplaces and quick-commerce platforms such as Blinkit and Zepto.
Smylo Plans ₹30 Crore Fundraise to Accelerate Expansion
According to Inc42, Smylo is in advanced discussions to raise around ₹30 crore through a mix of equity and debt. Sources cited in the report said equity would account for most of the proposed funding, although the exact division between the two financing methods remains undisclosed.
The round is expected to bring a new venture capital firm into the company’s investor base. Existing investor DSG Consumer Partners is also looking to increase its investment.
The proposed capital would support three major priorities:
- Product expansion: Developing and launching additional cat food products to serve different nutritional requirements and consumer preferences.
- Research and development: Improving formulations, ingredients and product development capabilities.
- Manufacturing: Establishing a manufacturing facility to strengthen production capabilities and support future expansion.
A manufacturing facility could give Smylo greater control over production, quality processes and product development. It could also help the company manage supply as sales volumes increase.
However, the company has not disclosed the proposed facility’s location, investment allocation or expected operational timeline.
What Is Smylo and Who Founded It?
Smylo was founded in 2024 by Abhishek Agrawal and Kartikeya Gupta, former executives from the investment industry. The founders identified an opportunity in India’s cat food category, where specialised nutrition options have historically been more limited than those available for dogs.
The company’s origins are linked to the founders’ experience as cat parents. Their difficulty finding suitable nutrition for their own pet encouraged them to research feline dietary requirements and develop a dedicated cat food brand.
Smylo positions itself around fresh-meat formulations, high protein content and clean-label products. The company says its products are made without artificial preservatives.
Its existing portfolio includes:
| Product category | Purpose |
|---|---|
| Wet cat food | Meat-based meals and gravies |
| Dry cat food | Convenient everyday feeding |
| Broths | Additional moisture and hydration |
| Kitten food | Nutrition products designed for younger cats |
| Adult cat food | Products developed for adult cats |
The brand also uses retort packaging, a thermal processing technique that sterilises sealed food products and helps them remain shelf-stable without refrigeration.
Smylo sells through its own website and ecommerce platforms, as well as quick-commerce services including Blinkit and Zepto.
Smylo Reports Monthly Sales of ₹50–55 Lakh
One of the important indicators of Smylo’s early business traction is its reported monthly sales.
In an interview with Inc42 in February 2026, the founders said the startup was generating average monthly sales of approximately ₹50–55 lakh.
The founders also provided a breakdown of the company’s sales channels.
| Sales channel | Share of revenue |
|---|---|
| Company website and ecommerce marketplaces | Around 80% |
| Quick-commerce platforms | Around 20% |
| Total | 100% |
This suggests that Smylo’s business has been driven primarily by direct-to-consumer sales and online marketplaces, while quick commerce provides an additional distribution channel.
The company has also been working to build a repeat-purchase business. Cat food is a recurring-consumption product, meaning customers who adopt a particular brand may purchase it regularly if their pets accept the formulation and the product meets their expectations.
In January 2026, co-founder Kartikeya Gupta told Mint that nearly 40% of the brand’s repeat customers came through its subscription model. This indicates the importance of recurring orders in its customer-retention strategy.
However, monthly sales figures should not be confused with annual revenue or profitability. Smylo has not publicly disclosed audited financial results establishing its current revenue, margins or net profit.
Shark Tank India Helped Smylo Build Visibility
Smylo also gained consumer attention through its appearance on Shark Tank India in early 2026.
According to Mint, the company secured a ₹75 lakh investment from Anupam Mittal, Kunal Bahl and Varun Alagh in January 2026, giving up 1% equity along with advisory shares. The deal implied a valuation of approximately ₹75 crore.
The television appearance provided an opportunity to introduce the brand to a wider audience beyond its existing online customer base.
For an emerging consumer brand, visibility can help reduce customer-acquisition barriers. However, long-term growth still depends on product quality, pricing, distribution, repeat purchases and the ability to maintain consistent supply.
The proposed ₹30 crore funding round would represent a separate and substantially larger capital-raising effort if completed.
India’s Cat Food Market Is Attracting Investor Attention
Smylo’s fundraising discussions come amid growing investment in India’s pet care and pet nutrition businesses.
According to the India Brand Equity Foundation (IBEF), India’s overall pet care market was valued at approximately ₹30,434 crore ($3.6 billion) in 2024 and is projected to reach ₹2.1 lakh crore ($24.8 billion) by 2032.
The pet food segment is also expanding. A sector profile published by the Ministry of Food Processing Industries, drawing on market research, estimated India’s pet food retail market at approximately $730 million in 2024.
Cat food is a particularly interesting category within this market.
A 2026 report by Canada’s agriculture department, using Euromonitor data, estimated India’s cat food retail sales at $213.9 million in 2025, up from $55.2 million in 2020. That represents a compound annual growth rate of approximately 31.1% over the period.
| Market indicator | Estimate |
|---|---|
| India’s pet population in 2025 | 39.2 million |
| India’s cat population in 2025 | 4.5 million |
| India’s pet food retail sales in 2025 | $769.7 million |
| India’s cat food retail sales in 2025 | $213.9 million |
| Cat food retail sales in 2020 | $55.2 million |
These figures indicate that cat food is becoming an increasingly important part of India’s commercial pet nutrition market.
The opportunity is supported by urbanisation, changing household structures, rising pet adoption and greater awareness of specialised animal nutrition.
Competition in India’s Pet Food Market Is Increasing
Smylo is entering a market where both established companies and newer startups are expanding their product offerings.
International brands such as Whiskas, Me-O, Royal Canin and Sheba compete in different parts of the cat food market. Indian startups are also developing products focused on fresh ingredients, premium nutrition and specialised formulations.
Recent funding activity reflects this growing interest.
In September 2026, D2C pet food startup Lickicious reportedly raised ₹19 crore through a combination of equity and debt, with plans to expand manufacturing, research and development, product offerings and distribution.
Pet care marketplace Supertails raised $30 million in a Series C funding round in February 2026 to expand its pet clinic network and quick-commerce infrastructure.
These developments suggest that investor interest is extending beyond individual pet food products into the wider pet care ecosystem.
For Smylo, the challenge will be to differentiate its formulations while keeping prices accessible enough to encourage regular purchases.
Why Manufacturing Could Be Important for Smylo
Establishing an in-house manufacturing facility could become an important step in Smylo’s expansion strategy.
Many emerging food brands initially depend on third-party manufacturers. While this approach can reduce upfront capital requirements, it may limit control over production schedules, capacity and certain product-development decisions.
An owned facility could help Smylo:
- Improve control over production and quality processes.
- Experiment with new recipes and product formats.
- Increase manufacturing capacity as demand grows.
- Reduce dependence on external manufacturing partners.
- Develop products more efficiently over time.
However, owning a facility also creates additional costs, including capital expenditure, staffing, maintenance, regulatory compliance and capacity utilisation risks.
The commercial benefits will depend on whether Smylo can generate sufficient demand to keep the facility operating efficiently.
The Bigger Picture
Smylo’s proposed ₹30 crore fundraise highlights how India’s pet food market is creating opportunities for specialised consumer brands. While the wider pet care industry includes healthcare, grooming, accessories and services, nutrition remains a recurring purchase category with the potential to build long-term customer relationships.
The growth of cat food is particularly noteworthy. India’s cat population and demand for specialised feline nutrition are increasing, creating room for brands that focus on product formulation, convenience and distribution. Smylo is attempting to build its business around these trends, with wet food, dry food, broths and subscription-led repeat purchases forming part of its strategy.
Looking Ahead
The next important development will be whether Smylo successfully closes its proposed funding round and how much capital it ultimately secures through equity and debt. The participation of a new venture capital firm and additional investment from DSG Consumer Partners could strengthen its financial position, but the reported discussions should not be treated as a completed transaction.
If the funding goes through, Smylo’s ability to execute its manufacturing plans, expand its product portfolio and increase repeat purchases will determine how effectively it converts investor interest into business growth. The company’s future performance will also depend on managing production costs, competing with established brands and building consumer trust in a growing but increasingly competitive cat food market.
Frequently Asked Questions
1. How much funding is Smylo planning to raise?
Smylo is reportedly in advanced discussions to raise approximately ₹30 crore, or around $3.2 million, through a combination of equity and debt. Equity is expected to account for the majority of the round.
2. Who are the founders of Smylo?
Smylo was founded in 2024 by Abhishek Agrawal and Kartikeya Gupta. The company is headquartered in Gurugram and focuses on cat nutrition products.
3. Who is investing in Smylo’s proposed funding round?
Existing investor DSG Consumer Partners is reportedly considering further investment. A new venture capital firm is also expected to join the company’s cap table if the proposed round is completed.
4. How will Smylo use the ₹30 crore funding?
The startup plans to use the proposed capital for new product launches, research and development, and establishing a manufacturing facility.
5. How much revenue does Smylo generate?
In February 2026, Smylo’s founders told Inc42 that the company was generating average monthly sales of ₹50–55 lakh. This is a previously reported sales figure, not a confirmation of its current revenue or profitability.
6. What products does Smylo sell?
Smylo offers wet cat food, dry cat food and broths for kittens and adult cats. The brand positions its products around fresh-meat ingredients, high protein content and clean-label formulations.
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