Vetic Lands $40M Led by Bessemer to Double Pet Clinic Network

Gurugram-based pet healthcare startup Vetic has closed a $40 million funding round led by Bessemer Venture Partners. The Hindu BusinessLine reported the round’s investor line-up and clinic plans on June 18, 2026, naming Greenoaks Capital, Lachy Groom, and JSW Family Office as participants. The fresh capital lands while Vetic’s latest financials show revenue scaling fast and losses scaling faster. Founder and CEO Gaurav Ajmera will use it to add 25 clinics, double the vet team, and push Vet at Home into a national service.

Founded in 2022, Vetic operates more than 65 clinics across 11 cities, backed by 250 veterinarians and over 60,000 subscribed members. Its FY25 operating revenue rose 2.5X year-on-year to Rs 62.9 crore, even as losses widened 63% to Rs 65.6 crore. The company spent Rs 2.1 for every rupee of operating revenue in FY25, with EBITDA margins of -98.89%. Bessemer has now backed Vetic across multiple earlier rounds, including a $26 million Series C the startup raised in May 2025 at a post-allotment valuation of around Rs 960 crore or $113 million. The new round lifts that valuation to $130-140 million post-money, according to sources cited by The Economic Times.

What the $40 million will fund

The round’s primary job is clinic network expansion. Vetic plans to add 25 new centres over the next year across Delhi-NCR, Bengaluru, Mumbai, Pune, Hyderabad, Chennai, and Kolkata, founder and CEO Gaurav Ajmera told The Economic Times. The new money will also let Vetic double its veterinary team to 500 veterinarians from the current 250.

Inside the existing network, the company will roll out its Vet at Home service nationally within two fiscal quarters. The capital will deepen Vetic’s pet insurance and wellness plan offerings and widen its e-pharmacy footprint. The Hindu BusinessLine’s coverage of the deal said the deployment includes AI tooling for triage, diagnostics support, and personalised care. Ajmera framed the consolidation as the company’s organising principle: “Vetic is building a connected system where consultations, clinics, medicines, diagnostics, insurance, recovery, and wellness all work together.”

Vetic has built this connected pitch since 2022. The current footprint includes 65-plus clinics in 11 cities, 15 round-the-clock emergency facilities, and quick-commerce delivery for 600-plus pet products. The company’s e-pharmacy reaches 700-plus pincodes, per the same report.

Vetic’s network of clinics and an e-pharmacy

Vetic’s footprint stretches across 65-plus clinics in 11 cities, 15 round-the-clock emergency facilities, vet-at-home services, an e-pharmacy expanding to 700-plus pincodes, and quick-commerce delivery for 600-plus pet products. Its subscribed member base sits above 60,000 subscribed members, with the network backed by more than 250 veterinarians. In September 2025, the company extended its clinical reach by partnering with multispecialty pet hospital Doggy World, folding the hospital’s four clinics onto Vetic’s product and technology stack. The company also offers pharmacy and pet care products in 60 minutes across 1,200 pincodes, with its clinics doubling as local inventory hubs, Ajmera said.

Ajmera’s pitch to investors is that Indian pet care remains a fragmented stack of providers. “Pet parents often have to use separate providers for consultations, diagnostics, pharmacy, grooming, and other services,” he told The Economic Times. The platform’s clinics double as fulfilment centres, acting as local inventory hubs for delivery. Vetic reports serving more than 60,000 subscribed members through the integrated platform. Each new clinic opening adds both clinical capacity and a delivery node to the same footprint.

The financials behind the raise

Vetic’s FY25 financials, drawn from its consolidated filings with the Registrar of Companies and reported by Entrackr, show the cost of the build. Operating revenue rose 2.5X year-on-year to Rs 62.9 crore in FY25 from Rs 25.5 crore in FY24. Losses widened 63% to Rs 65.6 crore from Rs 40.2 crore.

Unit economics sat at Rs 2.1 for every rupee of operating revenue in FY25. ROCE and EBITDA margins came in at -86.25% and -98.89% respectively. Employee benefits, the single largest line, rose 40% to Rs 30.8 crore, of which Rs 7 crore was non-cash ESOP expense. Cost of materials reached Rs 28.4 crore, professional expenses paid to veterinarians came in at Rs 25.3 crore, and marketing spend more than doubled to Rs 13.2 crore.

On revenue mix, sale of traded pet food and accessories contributed 46% of total revenue at Rs 29.3 crore in FY25. Pet care services such as vaccination, consultation, and grooming accounted for 53% at Rs 33.6 crore. Cash and bank balances stood at Rs 10.5 crore as of March 2025 against current assets of Rs 54.7 crore.

The fresh round lifts Vetic’s post-money valuation to $130-140 million, up from $55 million in 2024, per sources cited by The Economic Times. Bessemer has now backed the company across multiple earlier funding rounds. Entrackr’s deep-dive into Vetic’s FY25 unit economics traces the operating model behind the raise. In May 2025, the same outlet had reported Vetic’s $26 million Series C at a post-allotment valuation of around Rs 960 crore or $113 million. That earlier round also had Bessemer leading, with Lachy Groom’s LGF3, Acorn, and JSW Ventures participating.

The fragmented trade Bessemer is betting against

Bessemer framed the round as a bet on category leadership in Indian pet health. Partner Vishal Gupta said Vetic has “turned a fragmented, doctor-led trade into a genuine consumer healthcare platform, with the unit economics and clinical standards to prove it.” The framing puts the investment case on clinic count and clinical standards rather than near-term profitability. For Bessemer, the Vetic bet is now a multi-round conviction.

The wider market has been pulling in the same direction. In February 2026, Supertails raised $30 million in a round led by Singapore-based Venturi Partners. In May 2025, Nestle picked up a minority stake in Bengaluru-based Drool, turning it into a unicorn.

Other pet healthcare and supplies players have raised capital this cycle as India’s pet care market expands on rising pet ownership and spending on healthcare and wellness services. The wider pattern is consolidation capital moving into a category still described as fragmented by every founder and investor in it. Indian startup funding scrutiny has been intensifying across categories, including at larger groups like Tata Digital. Bessemer’s Vetic cheque is the latest expression of that flow.

• Vetic seed round: $3.7 million (November 2022, led by Lachy Groom)
• Vetic Series C: $26 million (May 2025, led by Bessemer)
• Vetic 2024 valuation: $55 million
• Vetic post-this-round valuation: $130-140 million
• Vetic cumulative raised: over $45 million

What the unit economics still need to show

Whether the next 25 clinics and 250 new vets can build a different cost line than the one Vetic filed for FY25 is the open question. The fragmented-pet-care pitch Ajmera has used since 2022 now sits beside a larger balance sheet and a larger team to feed. Each new site becomes a test of whether scale moves the company’s loss line.

The founder’s origin in the business is the operating thesis he keeps returning to. Ajmera built Vetic after his cat Simba needed 25-30 visits across five or six vets to get a correct diagnosis. Bessemer partner Gupta has framed the round as that thesis being turned into a platform. The FY25 numbers already tell one story: a company that grew 2.5X while posting a -98.89% EBITDA margin. Supertails’ FY25 results, also reported by Entrackr, showed a similar shape at higher revenue scale: Rs 108 crore in revenue against Rs 52.5 crore in losses.

Frequently Asked Questions

How much has Vetic raised in this round?

Vetic raised $40 million in a funding round led by Bessemer Venture Partners. Existing investors Greenoaks Capital, Lachy Groom, and JSW Family Office also participated. The deal was announced on June 18, 2026.

Who is leading the round?

Bessemer Venture Partners is leading the round, with Bessemer having backed Vetic across multiple earlier funding rounds including a $26 million Series C in May 2025. That earlier round placed Vetic’s post-allotment valuation at around Rs 960 crore or $113 million.

What will Vetic use the new capital for?

Vetic plans to add 25 new clinics over the next year across Delhi-NCR, Bengaluru, Mumbai, Pune, Hyderabad, Chennai, and Kolkata. The capital will also fund the doubling of its veterinary team to 500 and a national Vet at Home rollout within two quarters. Insurance, wellness plans, and AI tooling for triage and diagnostics support are also on the deployment list.

How is Vetic performing financially?

Vetic’s operating revenue grew 2.5X to Rs 62.9 crore in FY25 from Rs 25.5 crore in FY24, per its consolidated RoC filings. Losses widened 63% to Rs 65.6 crore from Rs 40.2 crore, with the company spending Rs 2.1 for every rupee of revenue.

Who are Vetic’s main competitors?

Vetic competes in Indian pet healthcare and supplies with Supertails and Drool, among other players. Supertails reported FY25 revenue of Rs 108 crore, against Vetic’s Rs 62.9 crore. Nestle took a minority stake in Drool in May 2025, turning the Bengaluru-based pet food maker into a unicorn.