Gardening-focused hyperlocal marketplace Urvann has raised Rs 3 crore in a seed funding round led by angel investment platform Inflection Point Ventures (IPV), according to PTI report.
The capital raised by the company will be used for the expansion of operations, according to a statement. Urvann is a hyperlocal marketplace for plants and gardening products. It launched operations in Delhi-NCR in August 2021.
The company plans to expand operations in major Indian cities, including Mumbai, Pune, Bangalore, and Chennai by the end of this year.
Urvann provides a wide variety and next-day delivery of fresh plants at low prices by partnering with local nurseries in a city. The model is different from that of traditional players, who courier plants from one city to another, resulting in high delivery costs and suboptimal plant quality due to long transit times.
Mitesh Shah, co-founder of Inflection Point Ventures said, “Urvann offers people a platform for all the gardening requirements from seed to decor at the click of a button, enhancing the whole customer experience. This is a largely untapped market opportunity, especially in the urban pockets”.
Urvann creates a one-stop store for gardening products and services. Its hyperlocal marketplace approach provides a platform for local plant nurseries to sell their products online and cater to their specific area.
Sambhav Jain, co-founder of Urvann said: “With the funds raised, Urvann will be utilising this to rapidly expand operations to other Indian metros and support our next phase of growth”.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.