Pune based Ugaoo raises INR 15 crore in pre-series A round of funding
- ByTejika Bajaj | November 25, 2021
Home and gardening startup Ugaoo announced that it has raised INR 15 crore in its pre-series A round of funding led by DSG Consumer Partners and RPG Ventures. This announcement indicates the spike in investor’s interest towards gardening and lifestyle startups post pandemic.
Commenting about the recent infusion of capital, the founder of Ugaoo, Siddhant Bhalinge said, “The plant and home gardening industry is estimated to grow at a CAGR of 50 per cent and reach a market size of $4 billion by 2025 in India. We plan to utilize the funds to expand our regional presence with hubs and garden centers in Bangalore, Delhi, and Kolkata and collaborate with international plant companies to introduce a wider range of exotic plants and premium plant care products. In the last six years, Ugaoo has fulfilled more than a million orders and we aim to produce at least 500,000 plants in a month by the end of 2022.”
Founded in 2015 by Siddhant Bhalinge, Ugaoo is a home and gardening startup which offers a wide variety of products ranging from live indoor plants, planters, kitchen garden seeds to plant-care products. The startup sells its products through own website as well as publicizes the same via e-commerce websites. The Pune based company has observed 120% annual growth since its inception.
Talking about the investment made in a promising startup, the head of India of DSG Consumer Partners, Hariharan Premkumar stated, “We are excited to partner with Ugaoo on its mission to help people reconnect with nature. Plant parenting is on the rise and the category has massive growth potential. Ugaoo has the potential to be the category-defining brand by solving customer pain points thoughtfully with a digital-first approach.”
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