Home-grown pet food firm Drools Pet Food on Monday claimed that it has achieved the unicorn status after Nestle SA, the parent company of Nestle India, bought a minority stake in it.
With this, it becomes the fourth company in India to become a unicorn this year. Deeptech startup Netradyne was the first unicorn of 2025 after raising $90 million in January. It was followed by Juspay in April and logistics firm Porter in May.
While the valuation at which Nestle has bought a stake in Drools is unknown, the company was last valued at $600 million when Louis Vuitton-backed PE firm L Catterton bought a minority stake for $60 million.
In a statement, Drools said it will continue to remain strategically and operationally independent following the investment.
“The company has also recently joined the ranks of India’s unicorn companies—a rare and significant milestone in the pet care space,” Drools said.
Notably, Nestle already operates a pet care business in the country under the brand name Purina.
Founded in 2010, Drools has distribution across more than 40,000 retail outlets and exporting to 22 countries, with plans of expansion underway. The firm also claims to be one of the largest companies on e-commerce platforms like Amazon.
Drools currently operates six manufacturing units and an expansive 16-lakh sq ft warehousing footprint, supported by 3,400 employees — including 1,800 sales professionals. The company offers over 650 SKUs.
“Backed by a strong focus on science-based nutrition, Drools continues to drive innovation and build meaningful engagement with the evolving demographic of Indian pet parents, positioning itself at the forefront of the country’s pet care industry,” said Fahim Sultan, founder, Drools Pet Food.
India is one of the fastest growing pet care markets in the world. Drools said it expects the market to grow by approximately 20% annually over the next five years to reach over $1.2 billion in 2028. While penetration is still tiny, with only 10% households in India having a pet, trends show that there is much room for growth.