Latest News | Urvann Raises Rs 3 Crore in Seed Funding Led by Inflection Point Ventures

New Delhi, Jun 30 (PTI) Gardening-focused hyperlocal marketplace Urvann has raised Rs 3 crore in a seed funding round led by angel investment platform Inflection Point Ventures (IPV).

The capital raised by the company will be used for the expansion of operations, according to a statement.

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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.

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Within a year of its inception, Urvann has already catered to 15,000-plus orders, delivered 1,00,000 plants in Delhi, and served over 6,000 customers.

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".

(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)