Alia Bhatt Backed Startup Phool Raises $8 Million In Series A Funding
Phool, a biomaterial startup and fragrance-focussed wellness brand, has raised $8 million in Series A funding.
The funding round was led by the consumer fund, Sixth Sense Ventures and also saw participation from existing investors, actress Alia Bhatt and the IAN Fund.
As per Phool, it will use the raised funds to scale operations further, explore untapped domestic and global growth opportunities and build India’s largest fragrance brand. Additionally, the startup will also rapidly scale R&D efforts to make animal leather obsolete with Fleather, the revolutionary vegan alternative to animal leather.
Phool | Fragrance Of Sacred Flowers
Founded by Ankit Agarwal in 2017, Phool.co focuses on flower cycling technologies and specialises in manufacturing charcoal-free incense and other wellness products. This D2C startup has transformed the way Indian consumers look at home fragrances with their award-winning incense made from temple flowers.
Speaking about the development, Ankit Agarwal said,
“In a short time, our modest efforts have managed to create a dent in the Indian fragrance industry. Phool as a brand today is synonymous with luxury fragrance products on account of our unwavering focus on superior product experience and honest ingredients. We plan to transform the global home fragrance market and build a distinct brand with our product range.”
Ankit stated that the startup has already made strong inroads in the rapidly growing Indian market that has been starved for good quality products. He added that investment from Sixth Sense Ventures is a testament to their vision to build a global fragrance brand from India.
Phool has also put India on the global innovation map with their path-breaking invention, Fleather, a leather made from flowers. And with this indigenous, homegrown alternative to leather, Phool plans to transform the $550 billion global leather goods industry.
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