IIT Kanpur-backed D2C wellness startup Fool.co today announced that Alia Bhatt is now an investor in the company. Founded in July 2017 by engineering graduate Ankit Agarwal, Flowers.co is an innovative startup focused on the circular economy that converts flower waste into charcoal-free luxury incense products and other wellness products. The startup is also the first wellness brand in India to receive Fair for Life – Fairtrade and Ecocert Organic and Natural certification. Along with deep-tech research, the startup has also developed “Fleather” leveraging its flower cycling technology. Fleather is a viable alternative to animal leather that was recently awarded PETA’s Best Innovation in Vegan World.
Fool.co has rapidly expanded its operations and has achieved 130% year-on-year growth for the past two years in a row. Fool.co Vision is backed by strong RND efforts and based on the Sustainable Development Goals which focus on creating a circular economy, promoting sustainable consumption and bringing in dignified livelihoods.
Speaking on the latest investment, Alia Bhatt, who is known for her environmental initiatives, said, “Flower incense really stands out for its great natural fragrance and amazing packaging. I make incense and bio-leather from recycled flowers. I admire the vision of the founder. Contribute in keeping our rivers clean, creating a humane alternative to leather and providing employment to women in the heartland of India. I am proud that these products are made in India and serve the world and I’m thrilled to be joined by the investors who are backing this company.”
Earlier this year, Alia Bhatt also invested in Nykaa, an omnichannel lifestyle retailer, in which she cited three reasons for choosing the company, its Indian roots, its global scale, and that it was founded by a woman. Was. IIT Kanpur had invested in and nurtured the company while it was in the consideration stage. Speaking on the latest development, Dr. Abhay Karandikar, Director, IIT Kanpur said, “IIT Kanpur is proud to be a partner of Phool. I am glad that we can technically help the company but at the same time, I want to share that flower. Have to admit. co brought a lot of visibility to our incubator and the subsequent spectacular success of SIIC is at least partly due to the success of Flowers”.
Ankit Aggarwal, Founder, Flowers.co, said, “At Flowers.co, we aim to drive systemic change through innovation. Alia’s investment is a validation of our efforts and has helped us grow from a Tier 3 city to a global success story. The investment and support will help us expand our footprint globally and accelerate the Rnd’s momentum. I can proudly say, Flowers.co is a business that is built, led and now owned by women. investments are also made by
Speaking on the latest development, Manoj Kumar, Founding Partner, Social Alpha (FISE) said, “Ankit has truly shown how enthusiastic entrepreneurs can solve some of our most complex problems with their disruptive innovations. Empathy in the team , is a rare combination of audacity. Goal, extraordinary”.
Speaking on the latest development, Padmaja Ruparel, Founding Partner, IAN Fund said, “Innovative solutions for sustainable development of the community are the need of the hour. Flower.co’s circular economy model brings triple bottom benefits of environmental, social and financial. Sustainability. Ankit is an enthusiastic entrepreneur focused on creating a large market and value for both the customers and his team.”
For its efforts to create innovative and sustainable products, Flowers.co has received several international recognitions, including the prestigious United Nations Young Leaders Award for Sustainable Development Goals, United Nations Momentum of Change Award at COP, Asia Sustainability Award Hong Kong, Equality Transforming Lives Awards. Breaking the Wall of London and Science, Berlin
Earlier, Fool.co had raised US$2 million in seed rounds from IAN Fund, Social Alpha (FISE) and Draper Richards Kaplan Foundation (San Francisco), and IIT Kanpur.
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