Phool.co has raised US$8 million (Rs. 60.5 crore) in a Series A round from Sixth Sense Ventures, a consumer-centric venture fund. The round also saw participation from its existing investors, Alia Bhatt and IAN Fund. Alia had invested in October, 2021 and believes that “Phool will be an important global aromatherapy story to emerge from India”.
Founded in 2017 by engineering graduates Ankit Agarwal and Prateek Kumar, Phool.co is a flower recycling technology startup. It uses floral waste—collected from dumping temple waste in rivers—to make patented organic fertiliser and charcoal-free luxury incense products.
Thinking Legal advised Phool with a team led by Vaneesa Agrawal (Founder), Vasuvita Singh (Senior Associate) and Shiphali Patel (Associate). ICUL advised Sixth Sense on this transaction.