Gardening Startup Ugaoo Bags INR 47 Cr Led By V3 Ventures

Urban gardening startup Ugaoo has secured INR 47 Cr (around $5.6 Mn) in a Series A funding round led by V3 Ventures, along with participation from existing investors DSG Consumer Partners and RPG Ventures.

The Pune-based company plans to use the fresh capital to expand its presence across 10 cities and also launch 80 retail stores by FY 2030. 

It also aims to expand its product offerings, besides rolling out a diverse selection of exotic plants and premium plant care products to the Indian market.

Founded in 2015 by Siddhant Bhalinge, Ugaoo offers a wide range of plants, including exotic indoor and outdoor varieties, flowering plants, succulents, and high-yielding vegetable and flower seeds. 

The company also provides high-quality soils, fertilisers and gardening tools and accessories for both professional and amateur home gardeners.

“The Indian home and garden category is projected to grow at a CAGR of 30%, opening up significant opportunities for Ugaoo. We plan to deploy the funds towards product enhancement, expanding our regional fulfilment centres, and team growth. We will expand via new hubs in Kolkata, Kochi, Lucknow, Chennai, Guwahati, and Ahmedabad” said Bhalinge.

In 2021,the company raised INR 15 Cr ($2 Mn) in a Pre-Series A funding round co-led by DSG Consumer Partners and RPG Ventures.

Ugaoo serves customers nationwide through its website, app and nine stores in Pune, Mumbai and Bengaluru.

It has an omni channel presence on digital marketplaces, including Amazon and Flipkart and even on quick commerce platforms like Zepto Swiggy and Blinkit.

The company claims its revenue increased from INR 24 Cr in FY 2023 to  INR 63 Cr by the end of FY 2024 on the back of 100% growth fuelled by an omnichannel approach.