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Alia Bhatt backed Phool raises $8M Series A investment

Biomaterial startup, and fragrance-focussed wellness brand, Phool has raised $8 million in Series A funding, led by consumer fund, Sixth Sense Ventures. The round also saw participation from existing investors, actress Alia Bhatt and IAN fund.

With this fundraise, Phool plans to scale operations further, explore untapped domestic and global growth opportunities and build India’s largest fragrance brand. Furthermore, it will also rapidly scale R&D efforts to make animal leather obsolete with Fleather, the revolutionary vegan alternative to animal leather.

Speaking on the funding, Founder Ankit Agarwal said, “In a short time, our modest efforts have managed to create a dent in the Indian fragrance industry. Phool as a brand today is synonymous with luxury fragrance products on account of our unwavering focus on superior product experience, and honest ingredients. We plan to transform the global home fragrance market, and build a distinct brand with our product range. We have already made strong inroads in the rapidly growing Indian market that has been starved for good quality products. The Sixth Sense investment is a testament to our vision to build a global fragrance brand from India. I believe Nikhil’s acumen and knack for unlocking opportunities will fuel our growth story in the years to come. ”

Phool.co has transformed the way Indian consumers look at home fragrances with their award-winning incense made from temple flowers. Reigniting India’s $3.2 billion home fragrance category, Phool has turned the jaded incense category into an experiential lifestyle one.

The brand has successfully captured the fascination of consumers looking for superior home-fragrance options, and made incense a part of their daily wellness routines. With a DNA driven by transformative innovation, and deep R&D, this IIT-backed startup has also put India on the global innovation map with their path-breaking invention, Fleather – ‘leather made from flowers’.

Nikhil Vohra, Founder and CEO of Sixth Sense Ventures, said, “The under-penetrated home fragrances industry presents a large, white space to be exploited. Plus, a clear shift to natural and sustainable alternatives is creating a strong demand for Phool’s products. The brand’s premium and international appeal can be easily leveraged across the globe, presenting a huge untapped opportunity for Phool’s certified, Indian-origin products.

He added, “A keen innovator and acute executioner, Ankit and his unrelenting spirit has led him to build an outstanding team with multiple patents to their name. Their moonshot, Fleather, is a game-changing innovation, and presents a massive potential opportunity. Super thrilled to partner with Ankit and team to dominate the global market”

Phool seems to be an intriguing startup with inspiring development on renewable energy semiconductor manufacturing platform. I’m certain this startup would keep on thriving in its excursion ahead. All the best to the whole group of Phool. This will give them an enormous achievement in the future.

Shishir Gupta, Founder and CEO, StartupLanes

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