Flowercycling Startup Raises ₹10 Cr. in Pre-Series A Round Funding
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Phool.co, an IIT Kanpur backed biomaterial startup, has raised about ₹10 crores in a pre-series A funding round led by Ian Fund and San Francisco-based Draper Richards Kaplan Foundation.
Founded by engineering graduates Ankit Agarwal and Prateek Kumar in July 2017, Phool.co is a startup focused on the circular economy which converts the floral waste into charcoal-free luxury incense products.
With deep-tech research, the startup has developed ‘fleather,’ leveraging the flower cycling technology. Fleather is a viable alternative to animal leather which was recently awarded PETA’s best innovation the Vegan World.Phool.co has expanded its operations at Tirupati in Andhra Pradesh. During the Covid-19 lockdown, the company ensured its supply chain by sourcing flower waste directly from the distressed horticulture farmers, bringing them critical income in tough times.
Image credits: Twitter.
Suprotik Sinha is the Content Writer with Synkrama Technologies. He writes about technologies and startups in the global enterprise space. An animal lover, Suprotik, is a postgraduate from Symbiosis Institute of Mass Communication (SIMC) Pune. He carries 6+ years of experience in Content Writing, and he also worked in mainstream broadcast media, where he worked as a Journalist with Ibn7 ( now known as News18 India) and Zee Media in Mumbai.