Hoovu Fresh Raises INR 6.45 Crore In Pre-Series A Funding
The firm delivers high quality fresh flowers by shortening the supply chain and leveraging on technology in packaging and innovation
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Hoovu Fresh, a fresh puja flower startup, has raised INR 6.45 crore in pre-Series A funding round led by Sauce.VC and joined by multiple angels such as Sangeet Agrawal (founder of Mokobara), Akshay Dujodwala (CSO at Mangalam Organics), Nikhil Bhandarkar (founder of Panthera Peak Capital), Mylktree Family Office, Cafe Coffee Day's family office etc.
"Hoovu is a pan India brand synonymous with quality, fresh puja flowers. With our developed processing and packaging technology our flowers stay fresh for 15 days when compared to the average of 2-3 days, something that is unheard of in the industry. This way we have been able to create value both for the farmer as well as the end customer," said Yeshoda and Rhea, founders of Hoovu Fresh, in a joint statement.
Hoovu has operations in Bangalore, Hyderabad and Mumbai. They also have special packages for festivals, puja staples and others curated with exclusive flowers. Their assorted flowers plus greens package is very popular as it includes auspicious greens like gharke, bil Patre and tulsi which people use for their special pujas, claimed by the company in the statement.
"We view Hoovu as a breakthrough brand in the enormous and unorganised space of puja consumables. While in the early stages, Rhea and Yashoda's adoption of technology to repurpose wastage while improving margins to deliver growth and profits from day zero is a testament to their disciplined and execution focussed DNA. I am personally excited about the employment generation potential of this business especially for women at the lowest strata of society. It is the perfect marriage of purpose with profit," says Manu Chandra, founder and managing partner at Sauce. VC.
Founded in Fenruary 2019 by sisters Yeshoda Karuturi and Rhea Karuturi, Hoovu's mission is all about making fresh flowers available every day at affordable prices. They deliver high quality fresh flowers by shortening the supply chain and leveraging on technology in packaging and innovation.