Online plant store Ugaoo announced a Series A funding round totaling ₹47 crore. V3 Ventures, a global investment fund that backs early-stage consumer brands, led the funding round, which also saw participation from DSG Consumer Partners and RPG Group.
Based out of Pune, Ugaoo runs a digital platform that sells plants in a variety of categories, ranging from cacti and succulents to fruit plants. It also offers seeds and an array of pots and planters.
The latest influx of financing will support efforts to expand the company’s brick-and-mortar retail presence, with Ugaoo planning to have 80 stores established across India’s major cities by 2030, according to reporting by The Economic Times. The company will be investing in supply chain building, product line improvements and team growth as well.
“But what does this mean for you — our longtime customers and supporters? At Ugaoo, we’re passionate about making your gardening journey easy, affordable and a source of joy and personal fulfillment. And that means building a green movement that will enable us to innovate, scale and beautify more of your homes than ever before,” Ugaoo wrote in a LinkedIn post about the funding raise.
