In a big boost to India’s pet healthcare ecosystem, Vetic, the Gurugram-based full-stack petcare startup, is set to raise INR 224 crore (~USD 26 million) in its Series C funding round led by global venture capital major Bessemer Venture Partners. The round also sees participation from prominent investors including Lachy Groom’s LGF3, Acorn Heavy Industries, JSW Ventures, and Reed India.
According to regulatory filings, the company’s board has approved a special resolution to issue 34,746 Series C preference shares at an issue price of INR 64,517.5 per share, aggregating the total fund raise.
Funding Breakup and Valuation Surge
Bessemer Ventures will invest INR 152 crore, while LGF3 will invest INR 42.7 crore. The remaining amount will be invested by Acorn, JSW, and Reed India. This round values Vetic at approximately INR 960 crore (~USD 113 million), almost twice the previous round.
With this round, Vetic’s total funding will cross USD 45 million (~INR 385 crore), indicating strong investor confidence in the brand.
A Growing Petcare Ecosystem
Founded in August 2022 by Gaurav Ajmera, former COO at OYO, Vetic was born out of a personal experience—Ajmera’s own cat Simba had a medical emergency and he found gaps in quality veterinary care. This was the trigger for Vetic’s inception, which aims to deliver human-grade healthcare outcomes for companion animals.
In less than three years, Vetic has grown to have over 40 centers across India, including seven 24/7 multi-specialty hospitals with emergency services and critical care units. Vetic has served over 1 lakh pets and offers services like consultations, vaccinations, surgeries, physiotherapy, grooming, and telehealth.
Operational and Financial Highlights
The company has not disclosed its FY25 financials yet, but the filings show a 4.75X growth in operating revenue for FY24 at INR 26.6 crore, with INR 40.2 crore net loss. The financials indicate a growth at all cost strategy with high capital deployment towards network expansion and technology upgradation.
According to some industry reports, Acorn Heavy Industries was the largest external investor before this round and Bessemer was the second largest. Continued investment from both early and new investors shows strong confidence in Vetic’s growth story.
Expansion Plans and Industry Trends
Vetic is looking to grow fast and plans to add 25 more centers by December 2025 and reach 65 centers. The network will upgrade technology, support senior pet care and potentially enter pet health insurance, a niche but exciting space in India’s petcare industry.
Ajmera said the company is committed to inclusive care and services are offered to community animals at discounted rates with 20-30% off. After an animal abuse incident in Mumbai, Vetic has taken measures to upskill staff and surveillance to ensure accountability and transparency at all centers.
Conclusion
Vetic Series C fundraise is more than just a funding round—it’s a sign of a market ready for innovation, professionalism and compassion in petcare. With seasoned investors backing the vision and a clear roadmap ahead, Vetic is set to change the face of veterinary services in India.
As India’s petcare industry grows, Vetic’s bold moves will be the benchmark for what modern, tech enabled animal healthcare looks like in a changing world. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
