Mumbai, Maharashtra, India., October 25, 2022 - Mumbai-based Pet Food Startup Fabulicious Pvt Ltd (Brand: LUVIN) has secured $300,000 in Angel funding from veteran banker M.V. Nair, a Gujarat-based family office Possible Ventures and other marquee investors- Tanvir Ahmed of UAE-based Food ingredients major Food Specialities Limited, Siddhartha Khemka of Motilal Oswal, Uday Shetty an advertisement industry veteran and founder of Cornerstone India, Mitesh Sorathiya of Evercon Developers, Viral Lodhiya of Sovereign Metals, Bhavesh Savaliya and Goutam Sanyal.
With this fund raise, Fabulicious plans to expand its innovative portfolio of natural and healthy pet foods and treats, strengthen marketing efforts, build on team strength and step-up channel presence pan-India for a wider customer reach.
The pet food industry has been witnessing a sharp growth and has witnessed number of new entrants lately. The Company believes this is just a beginning. By 2025, Indian Pet Food industry is slated to touch $1.4 billion. There is a dearth of quality products made-in-India, the consumer is increasingly aware and format of serving nutrition is getting humanised.
Talking about his venture, the founder Ipshit Bhatacharya says, "I started my career as a project engineer setting-up manufacturing plants of human foods abroad. So, Food & Nutrition had always been areas of interest. Over the years, my attachment towards my pets led me to learn more and more about their needs. Inflection point came when while advising a client on cattle feed, I started looking deeper in the pet food industry and realised it is at an interesting juncture. Demand is increasing, format of serving nutrition needs an overhaul, there is high dependence on imports and product-first disruption-oriented companies are far & few with clear white spaces in the customer value-proposition. Passion morphed into aspiration and a journey thus started. We are elated that our efforts have been thus far recognised well by Customers, channel partners & platforms. Few months back, Better India mentioned us amongst top-10 Natural & Healthy brands in the industry. We are fortunate to secure support from such eminent investors who believe in our vision equally and are willing to walk the miles with us. This will help catapult our efforts to reach our customers and serve them better."
About Fabulicious Private Limited
Fabulicious Private Limited is a DIPP certified Pet Food startup registered in the state of Maharashtra. Founded by a Food Technologist and IIM-Ahmedabad alumni, Fabulicious went live with its first product under 'LUVIN' in July'21. It has till date launched 12 natural and organic products in the D2C Pet food space, 3 of which are manufactured in Europe and the rest formulated and manufactured in-house, including India's first Instant Soup powder for dogs.