Heads Up For Tails plans to raise $40 mn

Heads Up For Tails (HUFT) has started talks to raise $40 million from new and existing investors, three people familiar with the matter told Mint, underscoring the growth potential of the pet care sector.

- Priyamvada C

"The discussions are still at very early stages and depending on the deal construct, existing investors including Peak XV and Verlinvest are expected to participate in the round," the first of the three persons said, all of whom spoke on the condition of anonymity. The funding is expected to be a primary round and will be used for the company's expansion plans, the second person said.

Peak XV declined to comment. Emails sent to Verlinvest and HUFT founder Rashi Narang remained unanswered till press time.

HUFT has been in the market to raise funds for some time now, the people added. Talks with private equity firm KKR in 2022 to raise about $50 million fell through due to differences over valuations.