D2C cat food startup Smylo is in advanced talks to raise around Rs 30 crore in a mix of equity and debt, Inc42 reported on 30 October 2026. The round is not closed yet, but it is the newest data point in startup funding in India for the fast-growing pet care market.
What the reported round looks like
Sources told Inc42 that equity would account for the majority of the proposed round, and that a new venture capital firm is likely to join Smylo's cap table, with existing backer DSG Consumer Partners also looking to invest further. Smylo is likely to use the fresh capital for new product launches, research and development, and setting up a manufacturing facility. Inc42 said it had reached out to Smylo for comment and would update the story on receiving a response.
The company behind the talks
Founded in 2024 by former Titan Capital executives Abhishek Agrawal and Kartikeya Gupta, Smylo sells cat food that it claims is preservative-free, high in protein and made from fresh meat. The founders told Inc42 in February 2026 that Smylo was clocking average monthly sales of Rs 50-55 lakh, and the startup appeared on Shark Tank India in early 2026, though it has not disclosed its total funding raised.
The talks come amid continued pet care investment: D2C pet food startup Lickicious raised Rs 19 crore in September 2026, and pet care marketplace Supertails raised $30 million in a Series C round in February 2026. Industry body IBEF estimates India's pet care market at $3.6 billion in 2024, projected to reach $24.8 billion by 2032.
Why it matters for founders
Smylo's story is a reminder that a talks-stage report is not a closed round — treat the Rs 30 crore as reported, not banked. For pet care founders, the real lesson is the category tailwind: repeat purchases and premium food are pulling institutional money into a market once dismissed as niche.