India, Oct. 30 -- D2C cat food startup Smylo is in advanced talks to raise around Rs.30 Cr (about $3.2 Mn) in a mix of equity and debt, sources told Inc42.

The proposed round is likely to bring a new venture capital firm onto Smylo's cap table, with existing backer DSG Consumer Partners also looking to invest further, the sources added.

While the split between equity and debt could not be ascertained, the sources said equity would account for the majority of the round.

Smylo is likely to use the fresh capital for new product launches, R&D, and setting up a manufacturing facility.

Inc42 has reached out to Smylo for comment. The story will be updated on receiving a response.

Founded in 2024 by former Titan Capital executives Abhishek A...