Though the company did not disclose the financial details of the transaction, sources with knowledge of the development said Petveda was valued at $2 million.
Founded in 2014 by Kamakshi Kumar and Dhruv Kumar, Petveda is one of the first brands to provide a line of natural grooming solutions for pets that are sulfate and paraben-free. After the acquisition, Petveda will continue to develop pet care solutions while also launching a range of supplements for pets, the release said.
“At Petveda, we are committed to infuse the goodness of Ayurveda with modern science and offer a range of organic products catering to pet care and grooming,” said Kamakshi Kumar, cofounder, Petveda.
“This acquisition gives us an entry to enhance our reach in providing authentic and much needed ayurvedic solutions for pets and their well-being. Petveda and we share a similar vision and expertise in preaching, practicing, and incorporating natural and chemical-free solutions in our everyday lives,” said Aakash Anand, founder and CEO, Idam Wellness (Bella Vita Organic).
Launched in 2018, Bella Vita Organic raised $10 million in a funding round from Ananta Capital, Famy Care founders-Taparia family backed PE fund.
According to the company, natural and ayurvedic solutions that promote better living for their pets are becoming increasingly popular among today’s consumers. The company is looking to tap into India’s $490 million petcare industry.