 "India share of VC funding lowest in 5 years")
Landscaping startup Garden of Joy said on Thursday it has raised Rs 84 lakh in a seed funding round led by Inflection Point Ventures (IPV).
The company will use the money to expand in Bengaluru and five other cities. "Partnering with IPV has been a pivotal moment for our startup's journey. This infusion of capital not only fuels our expansion but also validates our vision for creating vibrant and sustainable outdoor spaces. We will be utilising these funds for building in-house tech products for designing and vertical integration for all our services," said Sanyam Raheja, founder and chief executive officer (CEO), Garden of Joy.
"Currently, we're present in Bangalore (the older name of the city) and Hyderabad and in the next couple of years we will be expanding to all major cities in Karnataka, Telangana, Maharashtra, Tamil Nadu and Kerala," he said in a press statement.
The landscaping market in India is valued at $14.96 billion and globally it is worth $296 billion, said Garden of Joy. The global market is estimated to grow annually 4.72 per cent (compound annual growth rate, 2024-2028).
Garden of Joy offers customisable project management solutions for urban landscaping. The company said it has completed more than 100 landscaping projects in the first 18 months of inception.
"Their strengths and unique selling points include offering a comprehensive one-stop solution for landscaping and civil work, leveraging in-house teams for seamless execution, providing free site consultations, ensuring affordability without compromising quality, maintaining fast project execution timelines, and offering warranties of up to 10 years," said Vinay Bansal, founder and CEO of IPV.
IPV is an angel investing platform comprising more than 12,000 CEOs, high-net-worth individuals and professionals who invest in startups. It has invested over Rs 700 crore across 200 deals.
