Personal care brand Emami has acquired a 30% stake in pet care startup Cannis Lupus in an all-cash deal, without disclosing the financial details of the transaction.
FMCG Emami’s vice chairman and managing director said the company will roll out a range of natural, ayurvedic and chemical-free products for pets and will scale up the business by virtue of the expertise of Cannis Lupus. It said Cannis Lupus under the brand ‘Fur Ball Story’ would be focusing on the ayurvedic range of solutions for common and recurrent ailments in pets, especially dogs.
Gurugram-based startup Cannis Lupus, founded in 2019 by Animesh Katiyar and Srishti Sharma, that offers food, supplements and other pet care products.
The startup reported a turnover of INR 23 Lakh in the financial year 2019-20 (FY20). Its turnover stood at INR 19 Lakh mark in FY21 and INR 22 Lakh in FY22.
Emami Group is one of the major fast-moving consumer goods (FMCG) companies in the country with a market cap of more than INR 20,000 Cr. Taking a cue from the smaller D2C brands that take up lesser time to launch new products and diversify their portfolio, Emami has been investing and adding new startups to its fold.
In March 2022, Emami picked up a 19% equity stake in nutrition-focused D2C FMCG startup TruNativ for an undisclosed amount. In June last year, the company invested another INR 50 Cr in a men-focused grooming brand, The Man Company.
According to a report, India’s pet care market is projected to cross the INR 7,500 cr mark by 2026, led by increasing demand for such products.