Latest News | Phool Raises Rs 60 Cr from Sixth Sense Ventures, Alia Bhatt, IAN Fund

New Delhi, Apr 5 (PTI) IIT Kanpur-backed startup Phool has raised USD 8 million (about Rs 60 crore) from three investors, including Sixth Sense Ventures.

The money was raised in a series A round which also saw participation from existing investors -- actor Alia Bhatt and IAN Fund.

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Incubated at the startup's Incubation and Innovation Centre (SIIC), IIT Kanpur, Phool came to limelight with their incense made from flower waste.

"Leveraging its deep understanding of fragrances and consumer preferences, the company, with their suite of certified natural products, has raised this round to build depth in the USD 23 billion global home fragrance market, and enter the aromatherapy-based personal-care category," Phool said in a statement.

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"I believe that Phool will be an important global aromatherapy story to emerge from India.

"The company's plant-based leather will also be a more humane choice for the world's top luxury brands. As a Phool customer and as an investor, I am putting my money where my belief is," Bhatt said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)