Ugaoo is an online platform for ornamental plants and urban gardening that secured 5.6 million USD from V3 ventures in its ongoing series A funding round. The funding round saw the participation of other investors including RPG ventures and DSG Consumer Partners. This marks the second major funding round for the company. The startup plans to use these fresh proceeds to scale its offerings, enhance its platform, expand its product offerings, and develop a market presence.
The company will mainly focus on expanding its regional presence across the top 10 Indian cities. The firm plans to establish 80 retail stores by FY30. The startup has raised around $2.5 million across multiple funding rounds since its inception. The firm previously secured $2 million from RPG ventures, DSG consumer partners, and other investors during its seed funding round in 2021. Ugaoo provides indoor plants, flowering plants, seedling trays, garden tools, ceramic pots, and more.
Ugaoo also offers an online platform providing personalized and corporate gifts. The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 13 million USD as of April 19, 2023. The platform allows users to buy multi-category products across ornamental plants and accessories. The startup also provides metal pots, potting mixes, and more. The company is focused on broadening its product offerings with the help of international plant suppliers.
The Pune-based startup aims to introduce various selections of exotic and premium plant care products to the Indian market. Entrackr reported. Ugaoo serves customers through online and offline mediums including its websites and stores. The firm has nine stores across Mumbai, Bengaluru, and Pune. The houseplant and urban gardening brand also offers services in quick commerce platforms like Swiggy, Zepto, and Blinkit.
Ugaoo reported a 100 percent growth in its revenue to Rs 63 crore in FY24. The company claims to have fulfilled around 1 million orders in the past three years and boasts an annual recurring revenue of Rs 100 crore. The development came just after Ugaoo saw increased investor interest. Ugaoo operates on a 25-acre farm on the outskirts of Pune in Talegaon. The firm has been profitable throughout the year. Ugaoo faces competition from other garden supplies offering platforms including Urvann, GreenMyLife, Grow Garden, Nurserylive, and Kyari.
Conclusion :
Ugaoo is a provider of garden supplies and ornamental plants that secured Rs 47 crore in its series A funding round from V3 Ventures, RPG Ventures, and DSG Consumer Partners. The company offers an online platform that sells flowering plants, flower seeds, and other plant-related products. The startup intends to use this fresh capital to strengthen its business in the top 10 Indian cities, enhance its platform, and develop its market presence.
The company aims to establish around 80 retail stores by the end of FY30. The company plans to expand its offerings by partnering with international plat suppliers and introducing plant care products. Before this round, tracxn posted that the startup had raised around $2.5 million across multiple funding rounds.
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