Bengaluru-headquartered pet food company Drools has officially entered the unicorn club following a strategic minority investment by Swiss multinational Nestlé S.A. Although the financial specifics were not disclosed, the investment has placed Drools at a post-money valuation of $1 billion.
The company emphasised that despite the investment, it will continue to operate independently, both strategically and operationally. Nestlé echoed this sentiment, describing the move as a financial investment rather than a strategic acquisition.
This investment comes amidst a notable surge in India’s pet food and pet care industry, driven by millennial and Gen Z pet owners who are increasingly prioritizing quality nutrition and premium care for their animals. Nestlé is no stranger to the pet care domain, with its global pet care arm, Purina, contributing 20.7% to the company’s total sales in 2024 amounting to CHF 18.9 billion.
Purina Petcare entered the Indian market in 2017 and saw further consolidation when Nestlé India acquired its pet food operations in 2022 for ₹123.5 crore.
Backed by L Catterton, Drools competes with both global and local players such as Mars PetCare and Heads Up For Tails.
The company had earlier raised $60 million from L Catterton in June 2023 and plans to utilise parts of the new investment to scale operations in the expanding Indian market. Founded in 2010, Drools has grown its distribution to over 40,000 retail outlets and exports to 22 countries.
Drools becomes India’s fourth unicorn of 2025, joining the ranks of Netradyne, Porter, and JSW One. Founder Fahim Sultan expressed optimism, noting that Drools’ focus on science-backed nutrition and innovation has positioned the brand as a leader in India’s rapidly evolving pet care space, as per news reports.
The company aims to deepen its engagement with the new generation of Indian pet parents and continue pushing boundaries in the pet nutrition sector.
Read More: Porter joins unicorn club with $200 million funding round; valuation hits $1.2 billion.
Drools' entry into the unicorn club with Nestlé’s minority investment underscores the rising potential of India’s pet care industry. As demand for quality pet nutrition surges, Drools is well-positioned to leverage its science-backed offerings and widespread distribution to scale even further.
This milestone not only marks a new chapter for the company but also reflects broader trends shaping India’s consumer and wellness markets.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Published on: May 30, 2025, 9:27 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
