Ugaoo Raises INR 15 Crore In Pre-Series A
The funds will be used to invest heavily in regional expansion, product enhancement and building a dream team
Ugaoo, a home gardening startup, has raised INR 15 crore in its pre-Series A funding. The round was led by DSG Consumer Partners and RPG Ventures.
Founded in 2015, the startup has seen a consistent growth of 120 per cent year-on-year. The company offers an array of products—live indoor plants, planters, kitchen garden seeds and plant care products—through its website as well as marketplaces such as Amazon, Flipkart, etc., said a statement.
“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, 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,” said Siddhant Bhalinge, founder of Ugaoo, in the statement.
“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,” said Hariharan Premkumar, head of India, DSG Consumer Partners.