Fredun Pharma acquires pet tech platform Wagr

New Delhi: Fredun Pharmaceuticals on Thursday said it has acquired all assets of Wagr, a leading pet tech platform, marking the launch of the country's first online marketplace for pet products and services.

The strategic move positions the company at the forefront of India's rapidly growing pet care industry, projected to reach USD 6 billion by 2030, it said in a regulatory filing.

The acquisition includes Wagr's comprehensive technology platform with a user base of over 1.4 lakh pet parents, patented pet fitness tracking technology, and an established veterinary network, it added.

The acquisition creates an unprecedented ecosystem that addresses critical gaps in the Indian pet care market, the company said.

Fredun said it will relaunch the Wagr marketplace and services in Q4 of the current fiscal.

Shares of the company on Thursday ended 0.33 per cent at 1,418.70 apiece on BSE.