Phool.co, a Kanpur-based flower and farm waste recycling start-up, has raised ₹10.5 crore in a pre-series A round of funding.
The start-up, incubated at the Atal Incubation Centre-IIIT (Hyderabad Foundation), raised the funds through IAN Fund and San Francisco-based Draper Richards Kaplan Foundation.
Founded by Ankit Agarwal and Prateek Kumar, Phool.co converts floral waste into charcoal-free luxury incense products.
“The start-up had developed ‘Fleather’ using flower cycling technology. During the lockdown, the company ensured its supply chain by sourcing flower waste directly from the distressed horticulture farmers, bringing them income in the toughest of times,” a company statement said.
“We aim to build natural alternatives to synthetic chemical-based products by using deep-tech and research,” Ankit Agarwal, Co-Founder of the start-up, said.