OPEN APP
Home / Companies / Start-ups /  Sixth Sense Ventures invests in fragrance brand Phool.co
Listen to this article

NEW DELHI: Fragrance brand Phool.co has raised $8 million in a series A round from domestic consumer-focussed venture fund, Sixth Sense Ventures. The round also saw participation from existing investors, Bollywood actor Alia Bhatt and IAN fund.

Phool.co is a digital-first home fragrances brand that sells incense sticks and cones.

“With this fundraise, Phool plans to scale operations, explore the untapped domestic and global growth opportunities and build India’s largest fragrance brand. Furthermore it also will be rapidly scaling the R&D efforts to make animal leather obsolete with its trademark Fleather, a vegan alternative to animal leather," the company said in a statement on Tuesday.

Phool.co had earlier raised a seed round from IAN Fund, Social Alpha (FISE), Draper Richards Kaplan Foundation (San Francisco), and IIT Kanpur.

The company has also partnered with large fashion houses to pilot its vegan leather products.

“We plan to transform the global home fragrance market, and build a distinct brand with our product range. We have already made strong inroads in the rapidly growing Indian market that has been starved for good quality products. The Sixth Sense investment is a testament to our vision to build a global fragrance brand from India," said founder, Ankit Agarwal.

The market for home fragrances is under-penetrated in India, said Nikhil Vohra, Founder and CEO of Sixth Sense Ventures.

“Plus a clear shift to natural and sustainable alternatives is creating a strong demand for Phool’s products. The brand’s premium and international appeal can be easily leveraged across the globe, presenting a huge untapped opportunity for Phool’s certified, Indian-origin products," Vohra added.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Close

Recommended For You

×
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout