IIT Kanpur-backed startup Phool.co raises $1.4 mn in pre-Series A funding

Phool.co says it converts floral waste at temples into charcoal-free luxury incense products

Phool.co, a start-up backed by the Indian Institute of Technology (IIT)-Kanpur, said on Thursday it has have raised $1.4 million in a pre-Series A funding round.

The funding was led by IAN Fund and San Francisco-based Draper Richards Kaplan Foundation, according to IIT Kanpur. IAN Fund’s institutional investors include SIDBI’s Fund of Funds for Startups, apart from several marquee individuals in the league of Kris Gopalakrishnan, Sunil Munjal etc.

Phool.co--founded in 2017 by engineering graduates Ankit Agarwal and Prateek Kumar--converts floral waste at temples into charcoal-free luxury incense products. Phool.co has now expanded its operations to Tirupati, Andhra Pradesh too.