Urvann Raises INR 3 Crore In Seed Funding
The funds will be utilized for the expansion of operations across the country
Urvann, a gardening-focused hyperlocal marketplace, has raised INR 3 crore in a Seed funding round led by Inflection Point Venture (IPV). The funds will be utilized for the expansion of operations across the country.
"Understanding the sheer need to make the entire gardening process a seamless for our passionate plant parents who may find it difficult to purchase due to time constraints, proximity to marketplace etc. With the funds raised, Urvann will be utilizing this to rapidly expand operations to other Indian metros and support our next phase of growth. By 2025, we aspire to be present in all Indian cities and take our service to all plant lovers across India," said Sambhav Jain, co-founder, Urvann.
Urvann, within a year of its inception, has already catered to more than 15,000 orders, delivered 100,000 plants in Delhi and served more than 6000 customers. It is now aiming to expand its operations in cities including Mumbai, Pune, Bangalore and Chennai by the end of this year. The company is also planning ten times increase in the monthly GMV by the year-end, claimed by the company in a statement.
"Nurturing plants in our homes has been a way of life for all of us. The gardening market is very fragmented due to which customers find it difficult and time-consuming to attend to their plants given their busy lives. Urvann offers people a platform for all the gardening requirements from seed to décor at the click of a button, enhancing the whole customer experience. This is a largely untapped market opportunity, especially in the urban pockets," said Mitesh Shah, co-founder, Inflection Point Ventures.
Founded in 2021, Urvann provides large variety and next-day delivery of fresh plants at an affordable price by partnering with local nurseries in a city-setting it apart from traditional players who courier plants from one city to another. Their hyperlocal and zero packaging deliveries ensure plants reach the customers fresh and healthy, and with minimum harm to environment.
As per market studies, the Indian gardening retail market is valued at INR 20,000 crore and is expected to grow at a CAGR of 15 per cent. The primary reasons for this growth are increasing number of millennials becoming active plant parents and the use of plants in the gifting and décor industry.