Phool.co was founded in July of 2017 by graduates Ankit Agarwal and Prateek Kumar. The startup focuses on the circular economy of converting floral waste into charcoal free luxury incense products.
Ankit, the Co-founder, and CEO said, “Phool.co is a sustainable solution to the monumental temple-waste problem in India. Through our efforts, we aim to build natural alternatives to synthetic chemical-based products by using deep-tech and research. We are perhaps India’s first natural incense brand taking a digital-first approach and have a first-mover advantage as bio-leathers are barely available in India.”
With deep-tech research, the startup has developed “Fleather,” leveraging its circular flower economy. A viable alternative to animal leather, Fleather was recently awarded PETA’s Best Innovation in the Vegan World.
Speaking on its efforts to create a new circular economy, Padmaja Ruparel, Founding Partner, IAN Fund, said, “Innovative solutions for the sustainable development of the community is the need of the hour. Phool.co‘s circular economy model brings triple bottom benefits of environmental, social, and financial sustainability. Ankit and Prateek are passionate entrepreneurs with an innovative product for a sustainable world.”
Earlier, the startup had raised Rs 3.38 crore in a seed round from Social Alpha (FISE) and DRK Foundation, and a few others such as IIT Kanpur and Balmer Lawrie.