Drools, the home-grown pet food company, has claimed unicorn status following an investment from Nestlé SA, the parent of Nestle India, which acquired a minority stake in the firm.
The company did not disclose the deal value but said it has joined the ranks of India’s growing tribe of unicorns. The claim is yet to be verified independently.
A unicorn is a privately held startup valued at $1 billion or more.
Nestlé’s entry comes after private equity firm L Catterton also picked up a minority stake in Drools in June 2023. Despite the stake sale, Drools said it will continue to operate independently.
Founded in 2010 by Fahim Sultan, Drools has grown into a major player in India's pet food market, selling across more than 40,000 retail outlets and exporting to 22 countries.
It claims to be the leading seller in India’s cat food category and performs strongly on platforms such as Amazon.
The company offers over 650 SKUs, including high-protein and prescription diets, and operates six manufacturing facilities backed by a 16-lakh sq. ft. warehousing network and a 3,400-strong workforce, half of whom are sales professionals.
The company’s claim of unicorn status marks a rare moment for India’s pet-care space, which has seen limited venture funding and few large exits.
Drools did not provide a valuation figure or funding round size to substantiate the milestone.
“This is a testament to the love and trust of millions of pet parents,” Sultan said in a statement, positioning Drools as a science-backed, nutrition-first brand aimed at India's fast-evolving pet owner demographic.
With this deal, Nestlé strengthens its foothold in India’s growing consumer and pet-care segments, while Drools gains access to deeper global expertise in the category.
Nestlé owns global pet food brands like Purina but the Drools investment appears to be a strategic play focused on scaling a local brand with strong distribution and manufacturing infrastructure.
The investment comes at a time when India’s pet food sector is witnessing a surge in demand and increased foreign competition, driven by a rising urban pet population and increasing willingness to spend on premium nutrition.
Imports of dog and cat food have more than doubled in the last five years and jumped six-fold in the past decade, according to commerce ministry data.
India imported $69.8 million worth of pet food in the first six months of 2024, up from $25.5 million during the same period in 2019 and just $11.2 million in 2015.
The Drools-Nestlé deal reflects rising investor interest in pet-focused D2C and FMCG brands in the country.
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