Urvann Raises Pre-Series Round Led by Inflection Point Ventures
- ByStartupStory | June 17, 2023
Gardening-Focused Hyperlocal Marketplace Urvann Raises Undisclosed Amount in Pre-Series Round A Led by Inflection Point Ventures to Drive Technological Advancements and Nationwide Expansion.
Urvann, an innovative plant purchasing venture in Delhi-NCR, was established by IIM-Ahmedabad and ISB alumni, a dynamic couple who left their consulting careers to follow their passion for plants. Commencing operations in August 2021, Urvann aims to transform the plant buying experience in India. By forging partnerships with local nurseries in the city, Urvann offers an extensive range of fresh plants, ensuring next-day delivery and unbeatable prices. This sets Urvann apart from traditional competitors who rely on intercity plant couriers, resulting in expensive deliveries and compromised plant quality due to prolonged transit periods.
Mitesh Shah, Co-Founder, Inflection Point Ventures, says, “Gardening as a business is an untapped market for the Indian market especially in urban areas. Urvann aims to enhance the gardening experience across cities by providing a wholesome experience with their extensive service and their collaboration with local nurseries. At IPV we look forward to extending strategic support and helping them penetrate new markets and scale their business”.
Since its inception, Urvann has made remarkable strides, attaining noteworthy accomplishments such as surpassing 75,000 orders fulfilled and consistently handling over 500 daily deliveries. A notable achievement for Urvann is the distribution of a staggering 500,000 air-purifying plants across Delhi NCR and Bangalore. Furthermore, Urvann has successfully pioneered India’s first-ever active community of plant enthusiasts, fostering a platform for regular engagement and discourse on various plant-related inquiries. Impressively, Urvann has provided valuable assistance to more than 50,000 individuals embarking on their gardening journeys.
With its unique aggregator model, Urvann sets itself apart by providing an astonishing 10X range of products, all at prices that are merely one-fifth of what other online platforms offer. Moreover, Urvann takes pride in its hyperlocal and environmentally conscious delivery methods, ensuring that plants reach customers in optimal freshness while minimizing packaging waste. Emphasizing community engagement, Urvann fosters connections among plant enthusiasts nationwide through weekly workshops, events, and community groups. To cater specifically to millennial plant parents, Urvann has launched the Urvann Academy initiative, offering continuous guidance and support in their plant care endeavors.
Sambhav Jain, Co-Founder of Urvann says, “IPV has been really supportive throughout our journey. With the help of IPV, we scaled Urvann from X to 10X and now with this round, we are looking to scale further from 10X to 100X across the country.”
The Indian gardening retail market holds significant value, estimated at INR 25,000 crore, and is witnessing a remarkable growth rate of 15% CAGR. This surge in demand for live plants can be attributed to three key factors. Firstly, the millennial population is actively embracing plant parenthood, driving the increasing popularity of plants. Secondly, plants are gaining prominence as desirable gifts and decorative items, surpassing traditional bouquets and artificial showpieces in homes and offices. Lastly, there is a growing awareness of the positive impact of plants on mental health, with people acknowledging the sense of tranquility and happiness they provide, particularly in the post-pandemic era.
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