Alia Bhatt invests in D2C startup Phool.co
- ByManjeet Singh | October 7, 2021
Alia Bhatt has joined wellness startup Phool.co as a new investor. “Phool incense really stands out for its fine natural fragrances and amazing packaging. I admire the founder’s vision of making incense and bio-leather from recycled flowers that contribute to keeping our rivers clean, creating a humane alternative to leather and providing employment to women in India’s heartland. I’m proud that these products are created in India and wowing the world and I’m thrilled to join the investors who are backing the company,” Bhatt said.
A seed round of $2 million was previously raised by Phool.co from the IAN Fund, Social Alpha (FISE), and Draper Richards Kaplan Foundation (San Francisco) and IIT Kanpur. Ankit Agarwal, founder of Phool.co, said the systemic change Phool.co aims to drive is innovation. “Alia’s investment is a validation of our efforts and firmly sets us on a path to build a global success story from a tier 3 city. The investment and support will help us expand our footprint globally and also step up the pace of research and development,” he added further.
Ankit Agarwal founded Phool.co in July 2017, a circular economy startup that transforms floral waste into luxurious incense products and other wellness products without the use of charcoal. It claims to have experienced a 130% growth year over year over the past two years and has expanded rapidly. When the company was in its ideas phase, IIT Kanpur invested in and nurtured it. “Phool.co vision is backed by strong research and development efforts and is based on sustainable development goals focused on creating a circular economy, promoting sustainable consumption, and bringing dignified livelihoods,” the company added in a statement.
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