# Kanpur Flowercycling Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/kanpur-flowercycling-pvt

- Industry: Environmental Services
- Headquarters: Kanpur, India
- Website: www.phool.co
- Total disclosed funding: $8.1M
- Latest round: Series A (Apr 5, 2022)
- Investors on record: 6

## About

Kanpur Flowercycling Pvt. Ltd. is an Indian company focused on producing eco-friendly incense products from recycled temple flowers, emphasizing sustainability and social empowerment. Their unique offerings cater to a growing market for natural alternatives in home fragrances.Founded in 2017 and headquartered in Kanpur, India, Kanpur Flowercycling Pvt. Ltd. transforms discarded temple flowers into incense products. The company was co-founded by Ankit Agarwal, Karan Rastogi, and Naman Shah. In April 2022, they successfully raised INR 600 million in Series A funding led by Sixth Sense Ventures, with participation from the Indian Angel Network. This funding will support scaling operations and exploring both domestic and global growth opportunities.Phool specializes in eco-friendly incense products, such as charcoal-free incense sticks and cones crafted from recycled temple flowers. These products maintain the natural aroma of the flowers and are hand-rolled by women from marginalized communities, empowering them through employment. Phool's product line caters to consumers seeking natural alternatives to conventional incense, particularly in urban markets across India, Europe, and North America, where there is a growing demand for sustainable and ethically produced home fragrance items. The brand also appeals to the wellness sector, attracting individuals interested in aromatherapy solutions for relaxation and well-being.In 2023, Kanpur Flowercycling Pvt. Ltd. reported a revenue of INR 3,292,859.80, with an EBITDA of INR -557,375.40. The company operates primarily on a direct-to-consumer (D2C) model, allowing customers to purchase a variety of incense products directly through their online platform, enhancing customer loyalty with incentives for bulk purchases.Following the Series A funding round on April 5, 2022, Kanpur Flowercycling Pvt. Ltd. plans to utilize INR 600 million to scale operations and explore new growth opportunities in domestic and international markets. The company is designed to launch additional new products in the eco-friendly segment, aiming for specific releases in the coming year. Their strategic focus includes expanding their market presence across regions in Europe and North America, targeting an increase in market share by the end of 2023.

## Funding rounds

- Series A, Apr 5, 2022, $7.9M — Indian Angel Network, Sixth Sense Ventures
- Seed, Oct 1, 2021, $0.2M — Draper Richards Kaplan Foundation, Social Alpha, IIT Kanpur Angels, IAN Fund

## Investors

- Draper Richards Kaplan Foundation (https://capitalatlas.ai/funds/draper-richards-kaplan-foundation) — Seed
- Social Alpha (https://capitalatlas.ai/funds/social-alpha) — Seed
- IIT Kanpur Angels — Seed
- IAN Fund — Seed
- Indian Angel Network (https://capitalatlas.ai/funds/indian-angel-network) — Series A
- Sixth Sense Ventures (https://capitalatlas.ai/funds/sixth-sense-ventures) — Series A