Hyperlocal gardening-focused marketplace Urvann raises Rs 3 Cr in seed round led by Inflection Point Ventures
|Akanksha Gupta and Sambhav Jain, co-founders of Urvann|
- Since its inception, Urvann has processed over 15,000 orders and delivered over 100,000 factories to Delhi NCR. He is currently processing more than 100 orders per day.
- Urvann has created India’s first active community of over 25,000 plant parents across India who regularly engage to discuss their plant related issues.
- IPV announced the launch of a $50 million AIF Physis Capital fund to invest in a Series A and B growth-stage startup
- IPV has so far invested over Rs. 400 Cr in over 128 deals
Hyperlocal gardening-focused marketplace Urvann has raised Rs.3 crore in a seed round led by angel investment platform, Inflection Point Ventures (IPV). The funds raised will be used for the expansion of operations across the country.
Founded by IIM-Ahmedabad and ISB alums, a husband-wife duo who left their consulting careers to pursue their passion for plants, Urvann is India’s first hyperlocal marketplace for plants and gardening products. Urvann launched its operations in Delhi-NCR in August 2021 to revolutionize the way India sources plants. Urvann offers the widest variety and next day delivery of fresh plants at the lowest prices by partnering with local nurseries within a city, setting it apart from traditional players who courier plants from city to city. another, resulting in high delivery costs and suboptimal plant quality. due to long transit times.
Less than a year after its establishment, Urvann has already filled more than 15,000 orders, delivered 100,000 plants to Delhi and served more than 6,000 satisfied customers. It is now aiming to expand its operations in major Indian cities including Mumbai, Pune, Bangalore and Chennai by the end of this year. The company expects a 10x increase in monthly GMV by the end of the year.
Mitesh Shah, Co-Founder, Inflection Point Ventures says, “Keeping plants in our homes has been a way of life for all of us. The gardening market is highly fragmented, which makes consumers find it difficult and time-consuming to care for their plants given their busy lives. Urvann provides people with a platform for all gardening requirements from seed to decor in one click, improving the overall customer experience. This is a largely untapped market opportunity, especially in urban pockets.
Urvann is the first hyperlocal gardening marketplace in India, creating a one stop shop for all gardening products and services using the unique Content-Community-Commerce concept. Its hyperlocal market approach provides a platform for local incubators to sell their products online and meet the needs of their specific region. Hyperlocal operations ensure that plants arrive in excellent condition when delivered to customers, without unnecessary packaging, and at the same price as they would be found in a local store. Urvann is currently operating in Delhi-NCR and will soon expand to other cities to achieve its goal of creating a true “URBAN VANN”.
Urvann’s unique aggregator model allows them to provide 10x product variety at five times the price of other online players. Their hyper-local, packaging-free deliveries ensure that plants reach customers fresh and healthy, and with minimal damage to the environment. The company has a community approach that helps plant lovers across India connect with each other. They have an active and growing community of over 25,000 plant parents, who interact with Urvann through their weekly workshops, events and community groups.
Sambhav Jain, co-founder of Urvann says: “Understanding the absolute necessity of making the whole gardening process transparent for our passionate plant parents who may find it difficult to buy due to time constraints, proximity to the market, etc. Urvann has set up a shop online one-stop-shop to meet all requirements from buying fresh plants to gardening products and services.The platform onboards local vendors/nurseries who can extend their service through Urvann, enabling them to develop their activity quickly.
He added, “With the funds raised, Urvann will use them to rapidly expand its operations to other Indian metros and support our next phase of growth. By 2025, we aspire to be present in all Indian cities and to offer our services to all plant lovers across India. We look forward to the support of IPV to help us grow strategically.
The Indian retail market for gardening products is an INR 20,000 crore market and is growing rapidly at a CAGR of 15%. The main reasons for this growth are an increasing number of millennials becoming active plant parents; and second, the use of plants in the gift and decoration industry. Plants have replaced bouquets and artificial centerpieces in homes and offices. People are actively realizing the benefits of having plants around them, as it also has a positive impact on our mental health.