Houseplants and Urban Gardening Firm Ugaoo Secures Rs 47 Crore Series A Funding to Scale National Presence
Ugaoo, a prominent houseplant and urban gardening brand, has raised Rs 47 crore ($5.6 million) in its Series A funding round, led by V3 Ventures with participation from existing investors DSG Consumer Partners and RPG Ventures. This investment follows Ugaoo’s pre-Series A round in November 2021, where it secured $2 million.
The Pune-based company plans to use the new funds to deepen its reach across India’s top cities, aiming to establish a robust physical presence with 80 retail stores by FY30. Alongside retail expansion, Ugaoo seeks to diversify its product line by partnering with international plant suppliers. The brand intends to introduce a curated selection of exotic plants and premium plant care products tailored for Indian consumers, enhancing its offerings for urban gardening enthusiasts.
Founded in 2015 by Siddhant Bhalinge, Ugaoo operates a 25-acre farm in Talegaon, near Pune, where in-house greenhouses and horticulture experts cultivate its range of plants. The company reaches customers through both online and offline channels, including its website, mobile app, and nine retail stores across Pune, Mumbai, and Bengaluru. Ugaoo’s products are also accessible on major digital marketplaces like Amazon and Flipkart, as well as quick-commerce platforms such as Zepto, Swiggy, and Blinkit.
With a focus on a diverse demographic—including women aged 25-60 and urban gardening and home décor enthusiasts in metropolitan and tier II and III cities—Ugaoo has seen substantial growth. The company reports over 1 million fulfilled orders in the past three years, along with an annual recurring revenue (ARR) of Rs 100 crore. In FY24, Ugaoo generated Rs 63 crore in revenue, marking a 100% year-on-year growth from Rs 24 crore in FY23, while maintaining operational profitability.
As urban gardening gains traction in India, Ugaoo competes with other brands like Urvann, Kyari, Nurserylive, GreenMyLife, and Grow Garden, leveraging its extensive product offerings and expanding retail footprint to capture a growing market.
