Exclusive: Smylo In Talks To Raise ₹30 Cr To Expand Cat Food Portfolio

D2C cat food company Smylo is reportedly in advanced negotiations to raise approximately ₹30 crore ($3.2 Mn) in a combination of equity and debt financing, according to sources cited by Inc42. The round is expected to attract a new venture capital firm, alongside existing investor DSG Consumer Partners, with equity anticipated to dominate the offering.

The additional funds are likely to be allocated towards launching new products, investing in research and development, and constructing a manufacturing facility. Inc42 has reached out to Smylo for comment, which will be incorporated into the story once a response is received.

Smylo, founded in 2024 by former Titan Capital executives Abhishek Agrawal and Kartikeya Gupta, offers cat food that is preservative-free, protein-rich, and crafted from fresh meat. The startup's product range includes wet food, dry food, and broths designed for kittens and adult cats, and is sold through its website, ecommerce marketplaces, and quick commerce platforms such as Blinkit and Zepto.

In February, Smylo's founders disclosed that the company was generating average monthly sales of ₹50-55 lakh, with over 80% of revenue derived from its website and ecommerce channels, and the remaining portion through quick commerce.

The startup's recent funding effort follows a similar pattern to its earlier rounds, as highlighted during a February interview with Inc42. Smylo had secured smaller funding rounds before its appearance on the Indian version of Shark Tank in early 2026, though the company did not disclose its total funding history. The development aligns with the broader trend of investment in India's pet care sector, with numerous startups focusing on food, supplies, and healthcare raising capital to expand their operations.

In September, D2C pet food company Lickicious secured ₹19 crore in a mix of equity and debt, led by Prath Ventures, to bolster manufacturing, R&D, product diversity, and sales channels. Meanwhile, pet care marketplace Supertails raised $30 million in a Series C round in February to bolster its pet clinic network and quick commerce infrastructure.

The surge in investor interest reflects the rapid growth of India's pet care market, which is valued at $3.6 billion in 2024 and is projected to expand at a compound annual growth rate of 20% to reach $24.8 billion by 2032, as per IBEF.