Relaying an array of creative and consumer-friendly commodities, Phool.co is headed to win over the market of incense products. Now, the IIT Kanpur-backed startup has succeeded to get Bollywood star Alia Bhatt as its latest investor. Banking on the ideas of sustainable development, the firm converts floral waste from temples and other places into a range of charcoal free luxury incese products.
Churning creativity with the ‘Flowercycling’ technology
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The company was founded by engineering graduate Ankit Agarwal in the year 2017 and it has managed to secure a significant market share since then. Notably, it has also been awarded Fair for Life – Fairtrade and Ecocert Organic & Natural certificates for its innovative work. With the deployment of ‘flowercycling’ technology, the firm has brought out Fleather, a flower-made environmental friendly alternative to animal leather.
Speaking about the investment, Alia Said, “I admire the founder’s vision of making incense and bio-leather from recycled flowers, thereby contributing to keeping our rivers clean, creating a humane alternative to leather and providing employment to women in India’s heartland.”
Multiple investments & awards in a brief period of 4 years!
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In the past, Phool.co had managed to raise $2 million in seed funding from the IAN Fund (New Delhi), Social Alpha FISE (Bangalore), Draper Richards Kaplan Foundation (San Francisco) and IIT-Kanpur. Abhay Karandikar, the director of IIT Kanpur said, “The innovative ‘flower cycling technology by PHOOL’ has enabled sustainable and eco-friendly waste flower management, and the uplift of hundreds of women along the way.”
In recognition of its commendable work, Phool.co has been presented with a multitude of rewonwed awards and accreditions. This includes UN Young Leaders Award for Sustainable Development Goals, UN Momentum of Change Award, Asia Sustainability Award Hong Kong, Alquity Transforming Lives Awards, London, and Breaking the Wall of Science, Berlin.
– With inputs from IANS
