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Gardening startup Ugaoo raises ₹47 crore in Series A funding
Urban gardening startup Ugaoo has successfully raised ₹47 crore in a Series A funding round led by V3 Ventures. In just three years, Ugaoo has achieved over 1 million orders and an annual recurring revenue exceeding ₹100 crore. Currently, the company sells around 2.5 lakh plants per month, supported by a customer base of more than 3 million.
Urban gardening startup Ugaoo has successfully raised ₹47 crore in a Series A funding round led by V3 Ventures, with participation from existing investors DSG Consumer Partners and RPG Ventures. The Pune-based startup plans to use the funds to scale its operations and expand its footprint in India's burgeoning home and garden market.
The startup aims to expand its production capacity to 100 acres within two years. In an interview with CNBC-TV18, Founder Siddhant Bhalinge revealed ambitious plans to increase the company's presence across India, stating, “Right now, we are in five cities, and with this fundraise, we hope to be in another five by the end of the next financial year. The most demand usually comes from Bangalore and Mumbai, but we’re also seeing a huge uplift in demand from NCR due to rising air pollution.”
In just three years, Ugaoo has achieved over 1 million orders and an annual recurring revenue exceeding ₹100 crore. Currently, the company sells around 2.5 lakh plants per month, supported by a customer base of over 3 million.
Ugaoo operates primarily through online channels but has also diversified into offline sales. “Currently, the mix is 30% offline and 70% online. In the next three years, we anticipate it will evolve into a 50-50 mix,” Bhalinge explained.
The company currently operates 10 stores and plans to open two more by year-end, with a target of adding one store every two months. Ugaoo is also tapping into opportunities in tier-II cities, which Bhalinge sees as a significant growth area.
Watch the accompanying video for the entire conversation.
The startup aims to expand its production capacity to 100 acres within two years. In an interview with CNBC-TV18, Founder Siddhant Bhalinge revealed ambitious plans to increase the company's presence across India, stating, “Right now, we are in five cities, and with this fundraise, we hope to be in another five by the end of the next financial year. The most demand usually comes from Bangalore and Mumbai, but we’re also seeing a huge uplift in demand from NCR due to rising air pollution.”
In just three years, Ugaoo has achieved over 1 million orders and an annual recurring revenue exceeding ₹100 crore. Currently, the company sells around 2.5 lakh plants per month, supported by a customer base of over 3 million.
Ugaoo operates primarily through online channels but has also diversified into offline sales. “Currently, the mix is 30% offline and 70% online. In the next three years, we anticipate it will evolve into a 50-50 mix,” Bhalinge explained.
The company currently operates 10 stores and plans to open two more by year-end, with a target of adding one store every two months. Ugaoo is also tapping into opportunities in tier-II cities, which Bhalinge sees as a significant growth area.
Watch the accompanying video for the entire conversation.
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